Affordable Apartments Proposed for Former AHPRC Site

[Macallan 18]

A 140-unit affordable apartment development is planned for a large vacant downtown site owned by Marquette University.

Known as Michigan Street Commons, it would be built on around 7 acres bordered mainly by North Lovell, North 10th, West Michigan and West Clybourn streets.

No word on if it will include an Arby's.

https://www.jsonline.com/story/money/real-estate/commercial/2021/01/11/140-unit-affordable-apartment-project-proposed-downtown-milwaukee/6622023002/

[The Sultan]

Wonder if Marquette will retain any sort of ownership in these. 

[mu_hilltopper]

Looks good to me.

[MU24]

MUCH NEEDED. The "affordable housing" situation off Wisconsin and near that area is absurd, jacked up rent rates because property owners know of the proximity to campus (a "rich kid school").
Hopefully the rent is at a price point suitable for students, and not inflated. I understand its a desirable area to be in but a couple apartments nearby are charging 1200-1400 a month for a studio apartment. That is absurd.

[Dr. Blackheart]

Looks good to me.

Is that the Arby's BennyDome attached to it?  Fans only allowed remotely through the drive thru?

[The Sultan]

MUCH NEEDED. The "affordable housing" situation off Wisconsin and near that area is absurd, jacked up rent rates because property owners know of the proximity to campus (a "rich kid school").
Hopefully the rent is at a price point suitable for students, and not inflated. I understand its a desirable area to be in but a couple apartments nearby are charging 1200-1400 a month for a studio apartment. That is absurd.

Based on what I understand from Madison, WHEDA's low income apartment requirements don't allow for full time students.  Or I that could be a unique circumstance for Madison. 

IOW, I would be surprised if these were student apartments.  I would doubt WHEDA would issue tax credits for student housing.  But I may be completely wrong.

[MUpugnacity]

Based on what I understand from Madison, WHEDA's low income apartment requirements don't allow for full time students.  Or I that could be a unique circumstance for Madison. 

IOW, I would be surprised if these were student apartments.  I would doubt WHEDA would issue tax credits for student housing.  But I may be completely wrong.

It's a federal rule, not a WHEDA rule. Students could live there but their parents income would need to be included when determining eligibility. Unless they can demonstrate they are entirely independent of their parents/guardians. 

[The Sultan]

It's a federal rule, not a WHEDA rule. Students could live there but their parents income would need to be included when determining eligibility. Unless they can demonstrate they are entirely independent of their parents/guardians. 

Thank you!