National Equity Fund

Milwaukee Soldiers Home

Milwaukee, WI

Jobs Created: 11
Jobs Year One: 46

Project Summary: Milwaukee Soldiers Home is the preservation of 101-unit apartments on the grounds of the Clement J. Zablocki VA Medical Center in Milwaukee. Eighty of the development’s homes are in Old Main, which was constructed in 1867 as a place of recuperation for Civil War soldiers as they transitioned back into society as part of one of the last pieces of legislation signed by President Lincoln. Today, six historic buildings on the Milwaukee Soldiers Home grounds, including a National Historic Landmark, have been rehabilitated and returned to their original purpose, the service of veterans. The development also serves families experiencing or at risk of experiencing homelessness.

Rents are affordable to households earning between 30-50 percent of Area Median Income (AMI) and all receive 30-year Project Based VASH (Veterans Affairs Supportive Housing) rental subsidy vouchers from the Housing Authority of the City of Milwaukee (HACM).

Milwaukee Soldiers Home is one of the first developments in the nation and the first in Wisconsin financed with a hybrid structure using 4% and 9% Low-Income Housing Tax Credits (LIHTC).

All residents of the Milwaukee Soldiers Home have access to a range of supportive services, provided on-site by the Milwaukee Veterans Affairs Medical Center HUDVASH program. Services include care coordination, job training and employment assistance, help with benefits coordination and peer-to-peer counseling.

The property’s extensive rehabilitation was spearheaded by The Alexander Company. NEF invested nearly $15 million of LIHTC equity into the development. 

Project Details:

Population Served:
Family,Special Needs
Total Units:
Mix of Residences:
1 Bedroom (30),2 Bedroom (8)
Net Equity:
Credit Type:
Other Credits:
Total Project Costs:
Housing Authority of the City of Milwaukee,The Alexander Company, Inc.
Property Manager:
Center for Veterans Issues
The Alexander Company, Inc.,Uihlein/Wilson - Ramlow/Stein Architects, Inc.
General Contractor:
J.P. Cullen & Sons, Inc.

View More Veterans Developments

Hope Manor Village

Hope Manor Village

Chicago, IL

Armed with a vision of reducing vacant lots, reactivating abandoned residential structures and taking on some high commercial vacancy, developer VOA Illinois created a grand plan to make a difference in one urban Chicago neighborhood. Hope Manor Village is comprised of 36 new scattered site infill homes built on 16 lots that VOA purchased from the city for $1 each. Residences are affordable to households earning 15-60 percent of Area Median Income and rental assistance with the Chicago Low‐Income Housing Trust Fund MAUI Program provides subsidies for 10 units. Hope Manor Village replaces abandoned and foreclosed homes with high-quality affordable rental opportunities for Englewood residents and individuals and families (veteran preference). This development focuses on revitalizing both the infrastructure and aesthetics of the 10 surrounding blocks of Hope Manor II. Completed in 2021, 16 vacant lots are now home to 36 apartment units in a series of 2- and 3-flat buildings. Nine units are designed to support physically disabled and/or other special needs and will target the Veteran population. Residents have access to services including case management, counseling, peer support groups, financial literacy classes, health and wellness support, employment support and crisis intervention support.

This community was spearheaded by the Volunteers of America Illinois and Volunteers of America National Services. NEF invested just over $10 million of LIHTC equity into the development.

Hope Manor Village was the overall winner in Affordable Housing Finance’s annual Readers’ Choice Awards for the nation’s top developments of 2020 and 2021.

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