A parking lot on Milwaukee's north side could be redeveloped into affordable apartment units and townhomes under a new proposal from a local developer.
Milwaukee-based
Cupid Development is planning to build a five-story building with 40 senior apartments and 10 more rental units in side-by-side townhome buildings. The project would also include interior parking spaces and a community room.
Currently, the project site, located at 2953-2979 N. 8th St. in the city's North Division neighborhood, is owned by the neighboring St. Matthew Christian Methodist Episcopal Church and is used for overflow parking.
The parking lot, which sits along I-43, is only used occasionally, according to city documents
Cupid Development is partnering with Madison non-profit
Cinnaire Solutions on the project. City documents say that the team plans to apply for low-income housing tax credits that the Wisconsin Housing and Economic Development Authority will award in 2024. The tax credits mean there would be income caps ranging from 30% to 60% of the area’s median income for residents renting the apartments.
Cupid Development has also partnered with Dane County developer Gorman & Co. on theÂ
redevelopment of the former Edison Middle School in Milwaukee into 63 affordable senior apartments and 12 townhomes.
[caption id="attachment_580914" align="aligncenter" width="724"]
Rendering from City of Milwaukee[/caption]
