Grand Opening of Affordable Housing Complex Marks a First in State History

Prince Hall Village first WHEDA® tax credit development co-developed by a minority with over 50 percent ownership

Milwaukee – Today’s grand opening of the Milwaukee-based affordable housing development Prince Hall Village will mark a historic date for the Wisconsin Housing and Economic Development Authority (WHEDA) and its mentor-protégé program. The development, which received WHEDA tax credits, is the first in state history to be co-developed by an African American, Kalan Haywood of Vangard Group LLC, who has over 50 percent ownership in the project.

Haywood, who participated in WHEDA’s mentor-protégé program, partnered with the Fond du Lac-based Commonwealth Companies to construct the affordable housing development near the intersection of North Avenue and Teutonia Avenue. The WHEDA mentor-protégé program is designed to increase the number of minority real estate developers involved in low-income tax credit projects.

“This is one of two developments to be allocated tax credits and constructed under the WHEDA mentor-protégé program,” said WHEDA Executive Director Antonio Riley. “We look forward to giving more minority developers the opportunity to learn from the best the housing industry has to offer, and the chance to do more outstanding development in the inner city.”

Melissa Goins of Maures Development Group is the other developer who participated in the WHEDA mentor-protégé program. Goins is co-developing the mixed-use building Teutonia Gardens in Milwaukee, which is expected to open this August.

WHEDA has allocated $5.9 million in affordable housing tax credits, as well as $4.1 million in financing towards Prince Hall Village. The credits are awarded to developers who agree to provide housing to low to moderate income people at below-market rents.

Prince Hall Village is made up of 24 affordable housing units. The building located at the 1200 block of West North Avenue consists of 14, two-bedroom apartment style housing units

in a three story, mixed-use building. An additional 10, two-bedroom townhouse units were constructed on the 2200 block of North Teutonia Ave, less than a block away from the North Ave site.

The sites include enclosed parking, central air conditioning, and appliances. Rent for the units range from $360 to $695 per month.

“Prince Hall Village provides an affordable housing option, while preserving a historic community in the heart of our great city,” said Riley. “This will be a cornerstone development in this area for years to come.”

Riley was joined by Mayor Tom Barrett and Common Council President Willie Hines this morning to speak at the development’s celebration.

The WHEDA mentor-protégé program partners emerging minority and women-owned developers with established real estate developers involved in Wisconsin's low income housing tax credits program.

WHEDA is an independent state authority that works with lenders to provide low-cost financing for housing and small business development in Wisconsin. Under the Doyle Administration in the City of Milwaukee, WHEDA has provided $381,811,278 million in tax credits and financing to 93 projects, totaling 7,251 units. For more information on WHEDA's housing programs, call (800) 334-6873 or browse this website.