Trend of apartments, public libraries in same building continues with Good Hope Road project

A delayed proposal to develop a new library branch and apartments on Milwaukee's northwest side is advancing after action Wednesday by a Common Council committee.

Maures Development Group LLC and Royal Capital Group LLC plan to develop the four-story building, with 65 apartments on the upper floors, at 7717 W. Good Hope Road.

The $13 million development would replace an obsolete library branch at 6421 N. 76th St.

The Good Hope Road project would join a series of similar developments throughout Milwaukee.

They are Villard Square Library and apartments, 5190 N. 35th St.; East Library and The Standard apartments, 2320 N. Cramer St.; the current conversion of the Hills Building, 910 W. Historic Mitchell St., to a new library and 60 market-rate apartments, and the proposed new King Drive branch, with 44 market-rate apartments, at the northwest corner of N. King Drive and W. Locust St.

The city has paid for the portions of the new buildings that have the library spaces, which it owns. By including apartments, which are owned by the development firms, the new buildings also create property tax revenue.

Maures Development and Royal Capital are seeking federal affordable housing tax credits to help finance the Good Hope Road project.

Developers that receive the credits, which are provided through an annual competition, must provide apartments at below-market rates to people earning no more than 60% of the area's median income.

The Zoning, Neighborhoods and Development Committee voted to grant the developers site control for the city-owned vacant lot where the new library and apartments would be built.

Maures Development and Royal Capital applied for the tax credits last year but didn't receive an allocation from the Wisconsin Housing and Economic Development Authority. The authority is to announce the 2017 tax credit awards this spring.

The development's revised plan features 55 affordable units, including 13 apartments set aside for veterans, with monthly rents ranging from $385 to $835, depending on the size of the unit and the renter's income, said Terrell Walter, Royal Capital project manager.

The 10 market-rate units would have monthly rents of $740 to $850, he said.

The building would include 61 parking spaces for library patrons, said Melissa Goins, who owns Maures Development. The project would have 65 spaces for apartment residents, with the possibility of additional spaces leased at a neighboring parking lot.

Tom Daykin can be reached attdaykin@jrn.com