Thanks to the Wisconsin Housing and Economic Development Authority and many partners, Mercy Housing Lakefront will break ground later this year to build 56 affordable rental homes for families. Wisconsin Governor Scott Walker announced on April 28th that Mercy Housing Lakefront has been awarded Low Income Housing Tax Credits to finance the first phase of Greenwich Park Apartments.
Mercy Housing Lakefront will develop a new affordable rental community located at the intersection of North Farwell and Thomas Street, immediately north of the U.S. Bank building. It will be a two phase development of up to 100 rental apartments. By providing attractive apartments affordable to the local workforce and within walking distance to CSM Hospital and other nearby businesses, employers will better attract and retain a stable and qualified employment base and will foster further economic development in the community.
Phase one of Greenwich Park Apartments will provide 56 units of affordable housing for singles, families and people with special needs. A mix of studios and 1 to 3 bedroom apartments will be affordable to people with annual household incomes between 30 to 60% of the area median income.