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NewPoint provides $20m for 99-unit Milwaukee affordable housing development
NewPoint Real Estate Capital has provided $20.6 million in NewPoint Impact financing to facilitate the development of Michigan Street Commons, a 99-unit affordable housing community that will be built in Milwaukee, Wis.
Bear Real Estate Group, a Kenosha, Wis.–based affordable housing and commercial real estate developer with a portfolio spanning 20 states, is developing the project, which is slated for completion in spring 2024.
Michigan Street Commons is situated on the western border of a larger redevelopment, which is a joint venture of Kacmarcik Enterprises and Bear Real Estate Group. The team is planning an 11-acre mixed-used sports and entertainment district — Iron District MKE — that will include a hotel, event space and a soccer stadium that will serve the USL Championship League and Marquette University.
Located adjacent to Marquette University, Michigan Street Commons will rise on the southwest corner of W. Michigan Street and N. 10th Street on a