NewPoint Provides $20.6M in Construction Financing for Milwaukee Affordable Housing Development

MILWAUKEE — NewPoint Real Estate Capital has provided $20.6 million in construction financing for Michigan Street Commons, a 99-unit affordable housing community in Milwaukee. Kenosha-based Bear Real Estate Group is developing the project, which is slated for completion in spring 2024. Michigan Street Commons is being built on the western border of a larger redevelopment project spearheaded by Bear Real Estate Group and Kacmarcik Enterprises. Plans call for an 11-acre mixed-use sports and entertainment district, known as Iron District MKE, that will include a hotel, event space and a soccer stadium that will serve the USL Championship League and Marquette University...
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Ken Notes: These are nice projects, but we need to focus on ownership and wealth building. In so many of these projects the wealth or capitol gains ends up with the developer, and while I love developers our workforce need to build there own nest egg...