Boston Capital announced that it is investing in the construction of Highland Commons, a 50-unit affordable housing development in West Allis, Wis.
The general partners are Cardinal Capital Management, Inc., in Madison, Wis., and the Milwaukee Center For Independence (MCFI).
Highland Commons will feature 50 one-bedroom units located in one three-story building with an elevator. The property will include a computer/business center, a community center with kitchen and common area space for residents' use, central laundry rooms, a beauty salon/barber shop, and an exercise room. Units will be available to individuals and families with incomes at 60 percent or less of the area median income.
Individuals will be referred to the apartment community through the Service Access to Independent Living program in Milwaukee County or through an individual's Medicaid HMO. TLS Behavioral Health, an affiliate of MCFI, will offer comprehensive supportive services to residents who request them.
"Highland Commons will meet the needs of individuals recovering from mental illness, enhancing the quality of their lives, and supporting their personal independence,” said Jeff Goldstein, COO and director of real estate at Boston Capital.
The firm is investing more than $9.5 million in low-income housing tax credit equity.