By: Sean Ryan, Milwaukee Business Journal, December 4, 2013
Gorman & Company, Inc. is proposing a four-story building with 56 apartments, most of which would be affordable, on East Main Street in Waukesha where city officials are encouraging redevelopment.
The project is planned for a vacant, 2.3-acre site north of Main Street and west of the railroad tracks in a former railroad right-of-way. The project would have 14 market-rate units, 14 units with services to support veterans, and affordable apartments, said Ted Matkom, Wisconsin market president for Gorman, of Oregon, Wis.
“We have always been looking for the perfect site in downtown Waukesha and this was available through a broker,” Matkom said. “Several people referred us to this site because it was challenging.”
Gorman in early 2014 will apply for about $850,000 in affordable housing tax credits from the Wisconsin Housing and Economic Development Authority for the roughly $10 million project, Matkom said. If awarded the credits, the project could start construction in about a year for a 2015 opening, he said.
The area, east of Waukesha’s downtown, has older houses and vacant properties that city officials would like to see redeveloped, said Jeff Fortin, Waukesha community development specialist.
Waukesha’s Plan Commission will review Gorman’s project plan Dec. 11.