A proposed mixed-use complex, the
Bronzeville Creative Arts & Tech Hub, is nearing a groundbreaking.
The four-story development, which includes 60 apartments and 29,000 square feet of commercial space, would replace a collection of city-owned vacant lots and a vacant building along North Avenue between 6th and 7th streets.
First proposed in 2022, Milwaukee-based real estate firm
FIT Investment Group is anticipating a groundbreaking this fall, according to
Michael Adetoro of FIT Investment Group, as the project is wrapping up its financing package.
A $28.7 million investment, the development team received low-income housing tax credits from the Wisconsin Housing and Economic Development Authority last year and received city approval Tuesday for $700,000 in tax incremental financing.
The project also received financing from the Milwaukee Housing Trust Fund, the Federal Home Loan Bank of Chicago and Milwaukee's Redevelopment Authority, as well as a Green Infrastructure Grant, among other financing sources, Adetoro said.
A four-story commercial building would be placed at the intersection of North Avenue and 6th Street and would include a cafe. The commercial spaces are to be filled by the
Wisconsin Conservatory of Music,
Beyond STEM,
Black Arts MKE and
2112, a Chicago-based operator of arts-centric coworking space. Black Arts MKE would also have a two-story theater in the middle of the structure with capacity for up to 175 people.
The mix of tenants is intended to grow the business, technical and artistic skills of youth and adults.
"It's not really an office building, but it's an intentional space for these individuals to grow their businesses," Adetoro said, pointing to the programming, mentoring and collaboration that would be available through the building and its tenants.
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"Milwaukee has some of the best artists in the nation, but there is a difficulty being able to live professionally off of your art," said local Ald.
Milele Coggs. "This project will provide several aspects that artists otherwise don't have."
Some of the entrepreneurs could end up both living and working in the building, Adetoro said.
Three two-story live-work apartments would be located at the front of the building, allowing entrepreneurs to have a storefront in front of their three-bedroom apartment.
At the rear of the property would be 57 apartments units, a mix of one, two, three and four-bedroom floor plans. 48 of them would be leased at below-market rates.
The project is a partnership between FIT Investment Group and West Allis-based
Lutheran Social Services of Wisconsin and Upper Michigan, which will serve as the property manager and subsidize specific units for tenants it works with. Milwaukee-based
Emem Group is serving as an owner’s representative.
