Quantcast
Home / Government / Dane County readies $3.1 million in grants for seven Madison-area affordable-housing projects

Dane County readies $3.1 million in grants for seven Madison-area affordable-housing projects

Seven Madison-area affordable-housing projects would get more than $3 million worth of support from Dane County under a proposal before county officials.

The Dane County Affordable Housing Development Fund would provide $3.1 million in total to the housing projects, which officials expect to open 451 new units of affordable housing and 61 units of market-rate housing. The proposals also aim to provide more housing options to veterans, homeless, seniors and other groups. The Dane County Board was to consider a resolution authorizing the spending at a meeting taking place after press time on Thursday.

“Affordable housing is a critical component to increasing opportunity for all of Dane County’s residents,” Dane County Executive Joe Parisi said in a statement. “The public-private partnerships that the County’s Affordable Housing Development Fund creates continue to make a meaningful impact in this area.”

Officials selected the seven recipients of the money from among 11 applicants, who were seeking $6.3 million in total. The county’s affordable-housing fund has $3.1 million in it in 2018.

Largest among the housing grants is $1 million for the Gorman Company’s proposed Valor on Washington development, at the former Messner property on East Washington Avenue in downtown Madison. The 59-unit development is to consist of two- and three-bedroom units. Fifty of the development’s 59 units would be let to people earning between 30 percent and 60 percent of the median income in the county. Families that number a military veteran would also be given preference.

The Gorman Company also secured $300,000 worth of grants for a 64-unit project on Main Street in Sun Prairie. That project will set aside 55 units for people earning 60 percent of the median income in the county.

The other awards were:

  • $591,346 to MSP Real Estate for a 112-unit development on Cottage Grove Road in Madison. The project will 95 units set aside for persons earning between 30 percent and 60 percent of the median income
  • $403,200 to Stone House Development for an 80-unit development on South Fair Oaks Avenue in Madison. The development calls for one-, two- and three-bedroom units, and is meant for veterans and families who are homeless or at-risk of becoming homeless
  • $403,513 to CommonBond for a 54-unit development on Tree Lane in Madison. The 51-unit development proposes one- and two-bedroom units, and is meant for older people and veterans. Some units will be for people who have a permanent disability and are homeless.
  • $397,134 to J.T. Klein for a 73-unit development on Fish Hatchery Road in Fitchburg. The units will be meant for people who are 55 or older and less than the county’s median income

 

About Nate Beck, nbeck@dailyreporter.com

Nate Beck is The Daily Reporter's construction staff writer. He can be reached at (414) 225-1814 (office) or 414-388-5635 (mobile).

Leave a Reply

Your email address will not be published. Required fields are marked *

*