Bear Development Advances Affordable Housing with New RACM Loans

Bear Development has received approval for two brownfield cleanup loans totaling $1.5 million from the Redevelopment Authority of the City of Milwaukee (RACM). These funds will facilitate the development of a 140-unit affordable housing complex at 100 E. National Ave. The project, which includes tackling poor soil quality and contaminants, previously secured a $2 million TIF subsidy in May and is expected to open in 2026. This initiative highlights Bear Development’s commitment to addressing environmental challenges while providing affordable housing in Walker’s Point.

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Urban Milwaukee: https://urbanmilwaukee.com/2024/07/11/loans-subsidies-approved-to-support-301-affordable-apartments/
Milwaukee Journal Sentinel: https://www.jsonline.com/story/money/real-estate/commercial/2024/06/26/milwaukee-affordable-apartment-projects-to-get-city-financing/74216032007/