This project will be developed by Rule Enterprises.
Phase I
Johnson’s Park Apartments is a proposed 90-unit affordable development located in the Granville neighborhood of Milwaukee, Wisconsin.
The Phase I Development site is approximately 86,000 square feet of land (2 acres) just north of the intersection of N. 76th Street and W. Good Hope Avenue. The Development will encompass approximately 100,000 square feet of residential space yielding 90 one-, two- and three-bedroom apartments. Eighty-three percent of the units will be affordable: 18 units at or below 30% of the Area Median Income (AMI), 36 units at or below 50% AMI, 21 units at or below 60% AMI, and 15 market rate units.
This $20.1 Million development will be financed with a combination of 9% Low Income Housing Tax Credit equity, Federal Home Loan Bank – Affordable Housing Program (AHP) funds, City of Milwaukee HOME Funds, WEDC Brownfield Grant, and a first mortgage. This development will be the first phase to the redevelopment of the site.
Phase II & III (8 Acres) – TBD
Phase I –
- 90 Units
- Location: Milwaukee, WI
- Finance: 9% Low Income Housing Tax Credits (LIHTC)
Phase II –
- Entertainment Complex
- New Market Tax Credits
Phase II
- Possible Hotel
- New Market Tax Credits
- Opportunity Zone Fund
Former Johnson’s Park
Many fond memories and a retired mini-golf obstacle (recently sold) are all that remain at this former amusement park. When it opened in the 1970s, Johnson’s Park and Mini Golf originally offered visitors many family friendly entertainment options including mini golf, a water slide, batting cages, go karts and a video arcade. The amusement park sat vacant since the late 1990s and was finally demolished in 2007. The Property neighbors a newly constructed storage facility to the north and a sports bar to the south. An exposed creek borders the Property to the south and southeast. Located on North 76th Street and with close proximity to Good Hope Road, this Property is easily accessible via transit and automobile. The nearby Destiny Youth Plaza and Uihlein Soccer Park draw large numbers of families to the area on weekdays and weekends.
Location:
Milwaukee, Wisconsin
Project Size:
$20M – Phase I
$50M – Total
Year Built:
2020
