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Chicago & Midwest  + Midwest  + Apartments  |  July 21, 2025
Jasmine Kilman
By: Jasmine Kilman

WNC & Associates, KG Development Group Acquire Milwaukee MF

WNC & Associates and KG Development Group have announced the acquisition and planned renovation of Phoenix Residential in Milwaukee’s Uptown neighborhood.

Phoenix Residential is located at 2436 N. 50th Street, on the historic site once known as the Milwaukee Jewish Home for the Aged. The four-story building, originally constructed in 1929 and renovated in 1949, is listed on both the State and National Registers of Historic Places. It will undergo rehabilitation to create a 21-unit affordable multifamily housing community, as well as a 20-bed rehabilitation facility.

“WNC is proud to partner with KG Development Group on the transformation of Phoenix Residential – a project that not only brings much-needed affordable housing to Milwaukee’s Uptown neighborhood, but also honors the historic legacy of this building,” said Anil Advani, Executive Vice President of Originations and Finance at WNC. Renovations are expected to be completed in 2026.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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