Two stalled apartment development projects in Milwaukee’s Walker’s Point neighborhood are moving ahead with support from two proposed tax incremental financing (TIF) districts.

The developments, known as Via and Forma and proposed by Milwaukee-based New Land Enterprises, were initially planned as market-rate projects and received design approvals in 2023, but did not move to construction as project costs have risen and demand for “missing middle” housing has grown.

Via would be built at the corner of North 5th Street and West Mineral Street and include 82 rental units and about 4,000 square feet of commercial space. The project carries an estimated cost of $23.7 million, with the city proposing a $3.8 million TIF investment, according to a Wednesday announcement. In December, New Land pulled permits to deconstruct the vacant industrial building on the site.

Forma, planned for North 4th Street and West Florida Street, would include 65 rental units at a total cost of $17.9 million, supported by a proposed $2.9 million TIF contribution. The project site has two aging single-family homes on it. New Land is considering a relocation of at least one of them.

Both developments would include a mix of studio, one- and two-bedroom residential units targeted to households who earn less than 80%, 90%, and 100% area median income, which is also known as workforce housing.

“Via and Forma are ground-up, infill projects, which are inherently complex in today’s national cost and interest-rate environment,” said New Land managing director Tim Gokhman. “Reaching this point reflects critical progress in our partnership with the City of Milwaukee, and these incentives will help us to deliver a housing type and price point that is significantly undersupplied in Milwaukee. We are proud to partner with a city that is putting real solutions in motion and is focused on making projects like these possible.”

Last spring, Milwaukee’s Department of City Development rolled out updated TIF guidelines specifically to support workforce housing developments. So far, three projects in downtown Milwaukee have been awarded TIF under these guidelines including the conversion of the 100 East and Mitchell office buildings, as well as a ground-up apartment project planned in Deer District.

“I am pleased to support projects that invest in workforce housing in our neighborhood,” said Ald. Jose Perez, who is Milwaukee’s Common Council president and whose district includes the Walker’s Point neighborhood. “Our community remains strong and connected when workers and families across all income levels can afford to live here.”

Milwaukee’s Redevelopment Authority, which is the first city body to review proposed TIF districts, is scheduled to review the proposal on Feb. 19.

Nearby, at the northern edge of the Bay View neighborhood, New Land is envisioning a development with up to 500 apartment units and seeking similar TIF support, though details of that project have not yet been unveiled.

Forma. Rendering credit: Korb + Associates Architects