Cardinal Capital Management, Inc., in partnership with Journey House, will join local, state and federal officials, as well as investors and the community to celebrate the groundbreaking of Clarke Square Apartments, which is composed of two three-story buildings with 40 apartments. The ceremony will commence at 10 a.m. on Friday, May 3rd at 2330 W. Vieau Pl. in Milwaukee.
Clarke Square Apartments is the result of a partnership between Cardinal Capital Management and Journey House. “Clarke Square Apartments is Cardinal’s ninth supportive housing project in Milwaukee County. Each project is unique, created in partnership with city, county, state officials as well as community partners like Journey House, and local and national financial partners. We are blessed to work with such talented and mission driven people. In addition to all these organizations, we thank Milwaukee Continuum of Care, a group that has done so much to keep focus on those most in need,” said Erich Schwenker, president of Cardinal Capital Management.
The development will provide a set aside for youth who have turned 18 and aged out of the foster care system. Clarke Square Apartments will have a mix of 20 one-bedroom units, 14 two-bedroom units, and six three-bedroom units. In addition, there will be surface and underground parking. According to Journey House CEO Dr. Michele Bria, “This high quality, affordable housing is an investment in a continued focus on increasing the quality of life in Clarke Square Neighborhood and a welcome addition to our great neighborhood where children and families can play, learn, shop, worship, and live. We are grateful to all the partners who came together to make this happen.”
The $8.5 million development received financing from Wisconsin Housing and Economic Development Authority, Associated Bank, Boston Capital, Federal Home Loan Bank of Chicago and the City of Milwaukee Home Funds.
The architects are Dimension IV Madison Design Group. Cardinal Capital Management is the General Contractor. The project is expected to be complete in early 2020.
About Cardinal Capital Management, Inc.
Cardinal Capital Management, Inc. is a social impact development company based in Milwaukee, Wisconsin and responsible for approximately 10,000 units of housing across the United States, predominantly in the Midwest. Cardinal is driven by the idea that communities function better when underserved needs are met with dignity and grace. Cardinal has built well-received housing with amenities and supportive services that benefit persons who are Deaf and hard-of-hearing, persons with changing vision, families and individuals who are homeless, persons recovering from mental illness, and veterans. Cardinal’s products have significantly improved the lives of residents and community members, and the team looks forward to future projects that will continue their mission to deliver meaningful impact. For more information about Cardinal Capital Management, visit www.cardinalcapital.us.
About Journey House
Celebrating its 50th Anniversary, Journey House has helped over 100,000 children and families move out of poverty through adult education, workforce readiness, youth development, and community engagement. Located in the Clarke Square Neighborhood on Milwaukee’s near south side, Journey House manages 28 acres of urban park land and has generated over $24 million in economic development projects to include a new Journey House Center, Journey House Packers Football Stadium with investment from LISC NFL Grassroots in Milwaukee County Mitchell Park, Journey House Felix Mantilla Little League Fields in Baran Park, and Campus Housing projects to provide affordable housing to homeless youth aging out of the foster care system. For more information about Journey House, visit www.journeyhouse.org.
Did you like this story? Subscribe to NNS today.