Affordable housing development proposed for city’s east side
GREEN BAY, Wis. (WBAY) - Green Bay city leaders continue to make headway on efforts to bring affordable housing to the area, especially downtown.
We first told you last month, a recent housing study found the city is severely lacking in a variety of housing options.
Impact Seven, a community development non-profit, is stepping in with a plan for an east side neighborhood.
“It just looked ideal for a project with the type of scale we have been contemplating as sort of our first multi-family project in Green Bay,” said Michael Carlson of Impact Seven during Tuesday’s Redevelopment Authority Meeting.
The 1100 block of East Walnut Street has been on the city’s redevelopment radar for more than a decade. There’s been interest in the property, but planning options have fallen through after some developers couldn’t secure the funding.
A recent housing study revealed the city needs to create between 140 and 310 rental units per year to keep up with growing demand over the next 20 years.
Developers are planning a 41 unit apartment complex with a mix of one to three bedrooms options.
“Of those 41 total units, 34 of those would be set aside and reserved for families who are earning at or below 60 percent area median income and the remaining seven units are provided at market rate,” said Carlson.
City leaders say the project is in the beginning stages as developers apply for low income housing tax credits through the Wisconsin Housing and Economic Development Authority.
“So really what’s next, they have a planning option which secures the site for their developments, and we’ll hear back probably about april, early may at the latest. on if they secured those tax credits,” said William Peters, Neighborhood Development Specialist for the city.
The cost of the project is about $9 million.
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