A major development project in Milwaukee’s northwest side has taken a step forward after winning key approval from the city’s Redevelopment Authority. The $57 million first phase of Cudahy Farms, a “healthy living campus” with 1,125 housing units, received $6 million in tax incremental financing from the city.
The project, proposed by Royal Capital Group in 2021, aims to create affordable apartments and renovation the existing YMCA facility for support services. Despite strong opposition from some neighbors and Alderwoman Larresa Taylor, the project won approval with a 4-2 vote.
Taylor expressed concerns over the loss of wooded open space, wildlife habitat, and potential crime hotspots. She stated that only three residents support the project, while Royal Capital claims to have backing from over 200 residents.
However, Commissioner Lafayette Crump praised the city’s Department of City Development for its strong support of the project. The city expects annual payments of $3.7 million in property tax increments over 17 years.
The project is expected to break ground by the end of the year and spans four phases over more than a decade. Royal Capital says it will continue working with local authorities, including WHEDA, to secure further financing.
Source: https://biztimes.com/cudahy-farms-development-on-far-northwest-side-inches-toward-groundbreaking