Two stalled New Land projects could get financial support from Milwaukee

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Two long-held projects in the Walker’s Point neighborhood are being considered for financial assistance by the city of Milwaukee.

The city of Milwaukee Department of City Development on Wednesday announced it was proposing the creation of two new tax incremental districts to support two housing projects proposed by Milwaukee-based New Land Enterprises. If approved, the TIDs combined would be worth $6.7 million and support the Via and Forma developments announced several years ago.

TID 130 will support the proposal for Via, located at South 5th and West Mineral Streets, and TID 131 will support the proposal for Forma, located at S. 4th and Florida Streets, DCD officials said. Both projects were eligible for tax incremental financing because they offered workforce housing for people at a certain level within the area median income.

In July 2023, New Land presented plans for Forma, multifamily building with indoor parking at 412 and 418 S. 4th Street. The project will have 65 workforce housing units and total project costs are estimated around $17.9 million, DCD officials said. DCD proposed a $2.9 million ITD to support the project.

Also proposed in 2023, Via will include 4,000 square feet of commercial space and create 82 workforce housing units, DCD officials said. The total project cost is expected to be around $23.7 million. DCD proposed a $3.8 million TID to support the project, officials added.

Both projects will be geared to people who earn less than 80%, 90% and 100% of the area median income. They will include a mix of studio, one- and two-bedroom units.

In 2025, the DCD rolled out a set of guidelines for developers looking to receive tax incremental financing in exchange for more workforce housing units. Developers and the city are driving for more housing supply as rents have risen, meanwhile construction and borrowing costs are higher.

“Workforce housing compliments our city’s housing options by ensuring the people who keep our city running, such as teachers and health care workers, can have a place to call home,” said Milwaukee Mayor Cavalier Johnson in a statement. “I declared this the ‘Year of Housing,’ and the creation of these two tax incremental districts is a commitment to action. These tools allow us to invest in developments to create a more inclusive housing landscape to meet residents at every stage of their lives.”

“Our goal is to grow Milwaukee in a way that keeps it affordable and accessible to all,” said Lafayette L. Crump, commissioner of DCD, in a statement. “We aim to build on the work we are doing and identify projects that move the city forward. This means focusing on our role as thoughtful stewards of public resources, and supporting investments that deliver smart, sustainable growth. Through strong collaboration, we are expanding housing choice so hard-working Milwaukeeans have the opportunity to live and thrive in our city.”

“Via and Forma are ground-up, infill projects, which are inherently complex in today’s national cost and interest-rate environment,” said Tim Gokhman, managing director of New Land, in a statement. “Reaching this point reflects critical progress in our partnership with the city of Milwaukee, and these incentives will help us to deliver a housing type and price point that is significantly undersupplied in Milwaukee. We are proud to partner with a city that is putting real solutions in motion and is focused on making projects like these possible.”

In 2025, DCD rolled out guidelines for developers working in affordable housing, workforce housing and commercial conversion projects.

Affordable housing is defined as units priced for people making 60% of the area median income, while workforce housing is set aside for households making 60-100% of the AMI.

Before, the city only enacted TIF on affordable housing projects, Crump told The Daily Reporter last year. DCD had conversations with developers that said they would lean into workforce housing and flesh out a broad policy in the new area.

In Milwaukee, the median household income in 2024 dollars was $54,234, according to the U.S. Census Bureau.