On Friday, May 3, 2019, Cardinal in partnership with Journey House, joined local, state and federal officials, as well as investors and the community to celebrate the groundbreaking of Clarke Square Apartments, which is composed of two three-story buildings with 40 apartments.
Clarke Square Apartments is the result of a partnership between Cardinal Capital Management and Journey House. “Clarke Square Apartments is Cardinal's ninth supportive housing project in Milwaukee County. Each project is unique, created in partnership with city, county, state officials as well as community partners like Journey House, and local and national financial partners. We are blessed to work with such talented and mission driven people. In addition to all these organizations, we thank Milwaukee Continuum of Care, a group that has done so much to keep focus on those most in need,” said Erich Schwenker, president of Cardinal Capital Management.
The development will provide a set aside for youth who have turned 18 and aged out of the foster care system. Clarke Square Apartments will have a mix of 20 one-bedroom units, 14 two-bedroom units, and six three-bedroom units. In addition, there will be surface and underground parking. According to Journey House CEO Dr. Michele Bria, “This high quality, affordable housing is an investment in a continued focus on increasing the quality of life in Clarke Square Neighborhood and a welcome addition to our great neighborhood where children and families can play, learn, shop, worship, and live. We are grateful to all the partners who came together to make this happen.”
The $8.5 million development received financing from Wisconsin Housing and Economic Development Authority, Associated Bank, Boston Capital, Federal Home Loan Bank of Chicago and the City of Milwaukee Home Funds.
The architects are Dimension IV Madison Design Group. Cardinal Capital Management is the General Contractor. The project is expected to be complete in early 2020.