Bader Philanthropies provides gap financing for new Milwaukee housing project
What happened
KG Development Group redeveloped a former Jewish home in Milwaukee into Phoenix Residential Apartments, a 31-unit affordable housing facility. This facility serves as a crisis housing option for individuals experiencing homelessness or domestic violence. Milwaukee County provided approximately $1.3 million toward the $9 million redevelopment, and Bader Philanthropies provided the final piece of critical gap financing.
From urbanmilwaukee.com
Why it matters
The project is noted as a first-of-its-kind crisis housing facility in Milwaukee. The involvement of Milwaukee County's Housing Division, which is attaching housing vouchers to eight units, indicates local government support for affordable housing initiatives.
From urbanmilwaukee.com
Who's involved
- MilwaukeeLocation where the new crisis housing facility opened.
- Milwaukee CountyProvided funding and is attaching housing vouchers to units in the project.
- Bader PhilanthropiesProvided critical gap financing to complete the housing redevelopment.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Bader PhilanthropiesSpeculative
Bader Philanthropies could see its capital deployment efforts succeed in supporting local housing initiatives.
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The entities involved
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Milwaukee
city in and county seat of Milwaukee County, and largest city in State of Wisconsin, United States
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Milwaukee County
county in Wisconsin, United States