Waico Apartments

Waico Apartments was built in 1975 and 1981, and was originally financed under Section 236. The community includes 143 one, two, three and four bedroom apartments, all of which are covered by Section 8 project-based subsidy. Recently renovated, and located in the Walnut area neighborhood of Milwaukee, the community is close to the local YMCA, schools, shopping and public transportation.

Waico Apartments
1800 North 12th Street
Milwaukee, Wisconsin 53205
Phone: (414) 264 7151
Fax: (414) 264 3749

Office Hours: M-F 9:00 am-5:00 pm

Preservation Transaction Description

First Mortgage Financing: Wisconsin Housing and Economic Development Authority tax-exempt bonds.

Equity Financing: Equity raised through 4% low income housing tax credits.

Ancillary Financing: Loan supported by de-coupled Section 236 IRP.

Section 8 Contract Renewal: Yes

Property Rehabilitation Scope

Over $3.5 million in total rehabilitation funding including:

  • kitchen cabinets, counters, appliances & flooring
  • bathroom vanities, lavatories & flooring
  • new lighting throughout the complex
  • common area and apartment carpeting
  • new paint throughout
  • new windows
  • new roofs and exterior siding
  • construction of new community building

Other Benefits for Residents and the Community

Playgrounds, a computer center, exercise room, Resident Services Program, and on-site security.

Development Partners

Allocating Agency
Wisconsin Housing and Economic Development Authority

Local HUD Office
HUD Milwaukee

Municipality
City of Milwaukee

First Mortgage Lender
WHEDA

Tax Credit Investor
Boston Capital Tax Credit Investment Fund IV LP

Legal Counsel
Foley & Lardner

Architect
Torke Wirth Pujara Ltd

General Contractor
The Jansen Group