Affordable apartment development on Milwaukee's east side wins second city approval over opposition from neighboring condo owners
The five-story, 79-unit development is planned for a site overlooking the Milwaukee River at 1887 N. Water St. — replacing a one-story industrial building used for storage.
Eighteen87 on Water's financing includes federal affordable housing tax credits.
In return, developers Rule Enterprises LLC and Movin' Out Inc. are providing 60 one-, two- and three-bedroom apartments at below-market rents to people earning no higher than 60% of the local median income.