GREEN BAY, WI (WTAQ-WLUK) — An affordable housing complex on Green Bay’s east side opened its doors Tuesday.
Bay City Lofts is a collaboration between Lutheran Social Services of Wisconsin and Upper Michigan and renter Gorman & Company. Located on University Avenue, the development features 48 mixed-income apartments and eight townhomes.
40 of the apartment units are income-restricted, meaning they are available to households earning between 30% and 60% of the area’s median income. Meanwhile, eight units are market rate and not subject to income restrictions.
“What it means is a new community in Green Bay that is affordable for people who make about 60% of the county median income, which is maybe $40,000 for an individual and about $55,000 for a family of four,” explained Ted Matkom, president of the Gorman & Company Wisconsin market.
He believes it’s a strength to have tenants of various incomes.
In this building, we have people who are 30% of the county median income — they make maybe $20,000 per year — versus people who are market rate, unrestricted incomes. So this is a very diverse blend of incomes that live in this building, which I think is a strength in the building in terms of the diversity of the residents.
Matkom said the original site of Bay City Lofts was supposed to be on Military Avenue, but when that didn’t work out, the project shifted gears.
“The city moved on its feet and found another site for us, rezoned this site — which had been vacant for many years — and helped us develop this site in the timeframe that we had, which was pretty tight,” said Matkom.
Amenities available to Bay City Lofts residents include a community room, fitness center and on-site offices for LSS, which officials say will provide supportive services to ensure residents have the tools and resources they need to thrive.
If you’re interested in renting at Bay City Lofts, click here for more information.
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