Bear Development has taken on the ambitious task of redeveloping the Filer & Stowell site in Bay View into a massive 576-unit complex, marking the most extensive private affordable housing development in the state’s history. To facilitate this, the Department of City Development proposes a $9.2 million allocation from property tax revenue. The housing initiative, primarily funded through federal low-income housing tax credits, will cater to households at various income thresholds, with a significant portion reserved for those at or below 60% of the regional median income. Bear CEO, S.R. Mills, highlights the necessity of demolishing the existing structures due to their deplorable condition while underscoring the company’s commitment to the project and the community.
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Urban Milwaukee: https://urbanmilwaukee.com/2023/08/06/plats-and-parcels-city-will-contribute-9-million-to-large-bay-view-development/
Daily Reporter: https://dailyreporter.com/2023/08/11/large-affordable-housing-development-seeks-9m-from-city-of-milwaukee/
Finance & Commerce: https://finance-commerce.com/2023/08/developer-seeks-9m-from-city-of-milwaukee-for-500-unit-project/