Housing that reflects community 

A new development by the Martin Luther King Economic Development Corporation aims to bring both affordable and market rate housing to an underinvested area of the city. The organization received a $500,000 impact investment loan from the Greater Milwaukee Foundation to cover predevelopment and soft costs for its Five Points Lofts project .

The development will be located in the area of 3317-3349 N. Dr. Martin Luther King Jr. Dr. It will have 55 units.  

Nicole Robbins, MLK EDC executive director, said the group’s mission is to ensure residential and commercial health for all residents in the area. In addition to serving a mix of incomes, Five Points Lofts will include space for individuals with intellectual and developmental disabilities, those aging out of foster care and individuals experiencing homelessness.

“We want to make sure that we have quality housing for those who may be underserved and underrepresented as well as those who can fend for themselves,” Robbins said. “People can be exposed to others they may not have typically been exposed to while being able to come to really quality housing and be part of a community that encompasses people from different backgrounds.”

The Five Points project is MLK EDC’s seventh development project and first with green space. Kermiath McClendon, impact investment manager for the Foundation, noted that the corporation’s work will further revitalize the area as a space abundant in resources for the community, recreational opportunities, entrepreneurship and more.

“It's important to show the diversity of the population that we serve,” Robbins said. “This project will be the most reflective of who we currently work with in the community.”

 

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Kermiath-5010-webcallout.jpgSeeking capital?

Kermiath McClendon
Impact Investing Manager

 

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Andrea C. Ogden
Philanthropic Adviser