Affordable apartments proposed for Milwaukee’s near south side
Plans are proceeding for a 67-unit affordable apartment development on Milwaukee's near south side after a previous proposal failed to materialize at the site.
Cardinal Capital Management Inc. plans to develop the four-story building at 1127-1135 S. Chavez Drive, according to information filed with the Milwaukee Board of Zoning Appeals.
The $15.1 million development, known as Cesar Chavez Apartments, would include 44 parking spaces in an underground garage and 23 parking spaces in the exterior alley way, according to the board filing.
It would feature a mix of one- and two-bedroom units for individuals and families, the filing said.
The site now has a former dental clinic, which would be razed, and a parking lot.
Madison-based Cardinal Capital is seeking a variance from front and side street setbacks, and from the minimum lot size for the number of apartments the building would include.
The board is to review that request at its Sept. 9 meeting.
The "slightly increased" setbacks would provide a buffer between the four-story building and nearby one- and two-story homes and commercial buildings, according to the filing.
The landscaped setbacks also would create a buffer between heavy street traffic and the building's residents.
This marks the second time Cardinal Capital has proposed affordable apartments for the site.
A 45-unit proposal in 2019 didn't proceed because a ground-floor commercial tenant planned for the development dropped out of the project, the filing said.
The revised plan doesn't include commercial space.
Cesar Chavez Apartments would be financed in part with federal affordable housing tax credits, which are distributed through an annual competition.
Developments that receive the tax credits generally must provide at least 85% of the apartments at below-market rents to people earning no more than 60% of the area median income.
The Wisconsin Housing and Economic Development Authority usually announces in April which projects receive tax credits from that year's competition.