Contact: Jessica Beecroft
715.357.3334 [email protected]
On Friday, October 11, Mayor Tom Barrett and Alderwoman Milele A. Coggs, join officials from WHEDA, the Martin Luther King Economic Development Corporation (MLKEDC), and Impact Seven to celebrate this opening and the transformation of several more unused properties into affordable, mixed-use buildings, including 41 new housing units.
The celebration will take place in the new community ‘freedom garden’ at 2705 N. Dr. Martin Luther King Jr. Drive at 10:30am. Renowned artist Zenos Frudakis will be present to unveil his new statue of Dr. King.
“Impact Seven is proud to be associated with the community’s efforts to improve available housing and the local economy. This project will make an immediate impact on the neighborhood and its residents.” Said Brett Gerber, Chief Executive Officer of Impact Seven.
The development of KDC IV was driven by nine million dollars in private sector equity and loans and co-developed by MLKEDC and Impact Seven. Two properties in the development reuse existing buildings from the 1800s, which will fortify the corner of King Drive and Center Street and catalyze Westward development towards other projects that have recently caught the eyes of developers—such as the Milwaukee Enterprise Center and the historic 5th Street School.
The 41 rent-to-own housing units include single-family homes, duplexes, townhouses, and renovated historic apartments. Phase IV of KDC is the largest King Drive development yet. Many of the units feature amenities that are rare for low- to moderate-income housing: high-quality materials and appliances; ADA units with walk-in showers; and enclosed garages.
“This is yet another triumphant moment in the revitalization of this historic neighborhood,” says Welford Sanders, executive director of MLKEDC. “You need quality housing and thriving locally owned businesses to grow a community, and these new units and commercial space along King Drive and Center Street are some of the best available in the whole city—not just this neighborhood.”