Construction should begin next year on a multi-family apartment complex being spearheaded by St. Paul Missionary Baptist Church, which has a history creating affordable housing in the community. St. Paul Commons will be a 63-unit, $14 million project. The project will be comprised of
The church will work in partnership with Illinois-based Brinshore Development. It will be the church’s biggest project to date. It will include two- and three-bedroom units.
According to published reports, the apartment project will consist of a two-story townhome structure on the south side of Carroll Street. It will also feature a four-story multifamily structure on the north side of that street, just west of Center Street. The church, which is located at 1120 Grand Ave., has ownership of the building sites.
The St. Paul congregation was established in 1857 and has a history of building affordable community housing. Its work has included the 36-unit St. Paul Gardens Apartments at 1120 Center St., which was built in 1991 and 1992.
If funding falls into place
If the project lines up its funding from other sources, the City of Racine is ready to step in with block grant funds in the form of a low-interest loan. The City Council has approved, a $350,000 community development block grant loan for St. Paul Commons. The money would be made available when the rest of the financing is in place.
Being aware of the church’s history, Brinshore got in touch with the church about four years ago, according to an article in the Journal-Times.
The developers will apply for low-income tax credits from the Wisconsin Housing and Economic Development Authority. If credits and financing are secured, St. Paul Commons would include market-rate and subsidized apartment units at 30, 50, 60 and 80 percent of the local average median income.