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Milwaukee's first hostel to become first cooperative housing

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Posted at 1:05 PM, Dec 10, 2020
and last updated 2020-12-10 14:05:49-05

MILWAUKEE — Milwaukee's first hostel is scheduled to transform into Milwaukee's first cooperative housing with the help of a $450 thousand loan from Bader Philantropies, Inc.

The hostel had to close its doors when the COVID-19 struck and now it will be redesigned to a cooperative tenant model "well-suited" for COVID realities.

“The beauty of this pivot is that the project will stay true to our original vision of this work, which was to collectively empower the community, ourselves and each other to make our lives and neighborhoods better,” said Juli Kaufmann, managing member of RiverBee LLC, and president of Fix Development. “We are proud to continue to create a safe and diverse place to bring the community together.”

The RiverBee redevelopment project is located between the Riverwest and Harambee neighborhoods, helping to support people dealing with losses and uncertainty such as jobs, instability and landlord challenges.

The transformation is set to begin in January of 2021, hoping to open to the community in the spring.

"Affordable housing is one of the biggest issues we face as a society, and Milwaukee isn't immune. Cooperative housing is another way for people to have a more affordable style of living and easier access to homeownership while being part of a smaller community within the great communities of Riverwest, Harambee and Milwaukee," said RiverBee LLC investor Jerad Tonn.

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