An affordable apartment development planned for Wauwatosa’s west side is seeking a federal grant to help finance the project.
The 101-unit Walnut Glen Apartments is to be developed by Madison-based Horizon Development Group Inc. at 1535 and 1565 Rivers Bend.
That project site is south of West Walnut Road, between North 113th and North 116th streets.
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Walnut Glen would feature a four-story, 87-unit building for seniors, and a 14-unit town home building targeting younger families with children, according to a Wauwatosa Plan Commission report.
The project’s financing includes federal affordable housing tax credits.
Developments that receive those tax credits must rent at least 85% of the units to people earning no more than 60% of the local median income.
Horizon Development also is seeking a $700,000 federal HOME grant to help Walnut Glen.
That’s according to a new report to the Milwaukee County Board, which must approve the grant.
Horizon Development and its partner, Midwest Affordable Housing Corp., hope to begin construction this fall on the 14-unit town home building, with completion by July.
Construction on the 87-unit senior apartment building would begin in spring 2021. That building would open in spring 2022.
This article originally appeared on Milwaukee Journal Sentinel: A 101-unit affordable apartment development planned for Wauwatosa seeks federal grant to help finance project