Adaptive reuse of convent into a 63-unit development. Reserved for individuals/households earning between 60-80% of the AMI. 4-units are reserved for families, and the remaining for adults (55+). Amenities include business center, courtyard, fitness center, lounges, multiuse rooms, and storage space. Convent dates back to 1891.
Project Size: 50+ Units
Completed: 2022
Cost: $16100000
Location: Milwaukee, WI
Affordable Housing and Shelter on Faith Land Database
Chapel Garden Apartments
Project & Congregation Details
Congregation Information
House of Worship: St. Joseph Convent
Denomination: Catholic
Leadership: Sister Catherine Ryan
Location Information
State: WI
City: Milwaukee
Geography: Urban
Project Information
Approval: 2021
Completed: 2022
Cost: $16100000
Developer: General Capital Group
Land: Sold
Housing Type: Affordable Rental
Funding
Local
Redevelopment Authority of the City of Milwaukee board approved the creation of a developer-financed tax incremental financing district, it will return incremental property tax revenue of up to $720,000 plus 4.75% interest generated by the development through 2041
State
$4.5 million in historic preservation tax credits from the state and federal government
Federal
Low-Income Housing Tax Credits with $6.5 million in equity;