Hunt Capital Partners and developer Royal Capital Group will use $13.1 million in tax credit equity for the rehabilitation and adaptive reuse of an old school dating to 1902 plus the addition of adjacent new construction to create 82 units of multifamily housing, Hunt said in an announcement. Both Federal Low Income Housing Tax Credits and Federal and State Historic Tax Credits have been allocated for the project.
“The Phillis Wheatley Apartments will realize Milwaukee’s vision of transforming the site, unused since 2005, into a residential complex with elements that promote healthy living,community engagement and entrepreneurship,” said Dana Mayo, executive managing director at Hunt Capital Partners. “The project will also provide well-deserved housing for veterans otherwise facing homelessness. In addition to a new fitness center, an existing commercial kitchen and café will greatly benefit residents of the project.”
