Oak Creek to provide $30 million in financing for Lakeshore Commons

Lakeshore Commons would create hundreds of housing units east of South Fifth Avenue and north of East Ryan Road near Oak Creek's lakefront.

Oak Creek will provide up to $30.1 million to help finance a development that could eventually create up to roughly 700 housing units on the city’s lakefront under a new proposal approved by city officials.

The financing would be provided through new property tax revenue generated by the Lakeshore Commons project.

It would be developed on 66 acres next to Lake Vista Park, north of Bender Park and east of South Fifth Avenue, that was part of Oak Creek’s largely industrialized lakefront for decades.

Milwaukee development firm F Street Group LLC plans to build Lakeshore Commons in  phases over several years. The housing units would include both rental units as well as those for sale.

F Street proposed the development in December.

The Oak Creek Common Council on Tuesday night voted 5-0 for a development agreement that would fund up to $14.6 million for the project’s first phase.

Read More: Oak Creek to provide $30 million in financing for Lakeshore Commons

2021-06-02 13:24:42

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