Affordable Housing
Shorewood's Next Step: Spoerl Commercial Proposes New Affordable Apartments
· 5 min read
A proposed 19-apartment building at 4450 N. Oakland Avenue would turn an underused village-owned parking lot into workforce housing.
Key Project Details
- Location: 4450 N. Oakland Avenue, Shorewood
- Structure: Three stories with 19 apartments, designed to fit the village's pedestrian-scale environment.
- Affordability: Rents targeted to households earning 30 to 60 percent of the Milwaukee County median income.
- Financing: Zoning has been approved. We are pursuing Tax Incremental Financing and state housing tax credits to support long-term affordability.
Building on Proven Success
This Shorewood proposal follows a similar workforce-housing project currently underway in Whitefish Bay, which also benefited from public funding. Our strategy continues to be local collaboration, effective financing, and community-responsive design.
Why This Matters
- Social Impact: Providing housing options for teachers, municipal employees, and other essential workers helps strengthen community fabric.
- Sustainable Land Use: Converting underused surface lots near transit and businesses supports smart density and sustainability.
- Local Economy: Increasing housing supply near employment centers encourages local commerce and supports village vitality.
What Comes Next
- Village Board review of TIF assistance expected later this month.
- Parallel pursuit of tax-credit funding to secure affordability.
- Pending final approvals, construction is anticipated to begin in 2027, with leasing starting in spring 2028.
Who This Matters To
- Municipal Leaders and Planners: This project illustrates how public land can be used to meet local housing goals through coordinated policy and funding.
- Developers and Industry Professionals: It showcases how proactive project planning, thoughtful design, and multi-source financing lead to meaningful community impact.
- Prospective Tenants: The development offers a sign of hope, new rental opportunities in a walkable, amenity-rich village setting.
About Spoerl Commercial
Spoerl Commercial is a Milwaukee-based developer specializing in mixed-income and affordable housing. Our work emphasizes partnership with local governments, nonprofits, and funding agencies to deliver housing that supports vibrant, lasting communities.
Source: JSonline
