(WGTD)---With the demand for housing growing in the Racine area, developers have discovered the value of the city’s abandoned factory buildings in a big way.
Thanks in part to the award of state tax credits, announced Thursday, Milwaukee developers J. Jeffers and Lutheran Social Services are beginning work on converting into apartments two buildings that made up the former Gold Medal Camp Furniture plant. The site is located on Packard Ave. off of Memorial Drive and northwest of Modine.
The two-phase project is expected to create up to 157 apartments. Because of the tax credits, the first 65 will be set aside for residents earning below the area’s median income.
About 10 blocks to the north, and along the Root River and 6th Street, another developer is in the process of turning a couple of old buildings into residences. That project is expected to create over three-hundred market rate housing units.
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