Plans for a new downtown apartment building were dealt a setback last week.
Horizon Development Group wants to build a three-story, 40-unit apartment building — with 85% of the units considered affordable housing — on the city-owned site at 11th and Madison Avenues, but the South Milwaukee Plan Commission voted against rezoning necessary for the project on Nov. 19.
The biggest concern raised at the Plan Commission meeting: density. The proposed 40 units on 0.86-acre site are well above the guideline of 20 to 25 units per acre (maximum) called for in the 2003 comprehensive plan.
Learn more about the initial proposal at the end of this Business Journal article here. From it:
The developer plans to finance the project at 1028 Madison Ave. with affordable housing tax credits from the Wisconsin Housing and Economic Development Authority, said Scott Kwiecinski, development manager for Horizon. The project would have six market-rate units, and the remainder would be rent-controlled. Madison-based Movin’ Out Inc., which develops and provides housing for people with disabilities, would manage about 10 apartments in the building, Kwiecinski said. … Horizon also will seek city financial support in the form of low-interest loans or potentially tax-incremental financing, Kwiecinski said.
I’ll keep you posted on this project if it moves ahead.