USG Realty Capital has broken ground on a 76-unit multifamily development located in a Milwaukee Opportunity Zone. The project, known as Elevation 1659, is scheduled for completion in September 2023.

The site for the development, located at 1659 Jackson St., is currently home to a warehouse that will be demolished. The multifamily building will feature a ground floor that includes units, parking, and the main lobby plus four additional floors of rental units. Most of the 76 units will be one-bedroom, with natural light exposure from two or three sides.

Elevation 1659 is located in one of the 34 Opportunity Zones in the city of Milwaukee. There are 120 Opportunity Zones in Wisconsin.

“Elevation 1659 is located in one of the top opportunity zones in the country with one of the strongest social impact studies directly related to this project,” said Greg Genovese, CEO and founder of USG Realty Capital. “It’s always a big day when we break ground on a new project, and our developer partner, Ogden & Co., has been wonderful to work with. We look forward to Elevation 1659 becoming a big success for all our investors and a great new addition to this Milwaukee neighborhood, creating an exceptional positive social impact for the community.”

Elevation 1659 is one of several projects being funded by the Investors Choice OZ Fund. Other projects include:

• KindCare senior living facility in Bristol, CT
• Market Square multifamily development in Tacoma, WA
• Oasis Springs multifamily development in Houston, TX