Dane County announced on Thursday that it will award $8.2 million to support construction of seven affordable housing projects.
County Executive Joe Parisi said in a news release that the money will help create 465 new affordable units in the county. The awards would come from Dane County’s Affordable Housing Fund.
The funds will help develop 276 new affordable housing units in DeForest, Monona, Oregon and Sun Prairie. The city of Madison would get another 189 affordable units.
The county’s affordable housing fund has committed $25.7 million to affordable housing projects since it was created in Dane County’s 2015 budget. The awards are projected to create about 1,837 affordable units, with 43% in the city of Madison and 57% elsewhere in the county.
The projects in this year’s round of funding are:
- $1,450,000 to MSP Real Estate Inc. for the 79-unit The Heights Apartments at 2208 University Ave, Madison.
- $1,310,000 to Lincoln Ave Capital for the 70-unit Summit Ridge Apartments at 4649 Verona Ave, Madison.
- $640,000 to Northpointe Development II Corp. for CC Lane, a 50-unit project at 5227 County RD CC, Oregon.
- $1,260,000 to Northpointe Development II Corp. for the Broadway Lofts at 1208 E. Broadway, Monona.
- $1,510,000 to Habitat for Humanity of Dane County, in conjunction with Northpointe Development II Corp. and DreamLane Real Estate Group, for the Prairie Creek Senior Apartments and Townhomes at 1050 E. Main St., Sun Prairie.
- $860,000 to Odessa Affordable Housing for the Avenue Square Apartments at 1802-1814-1818 Packers Ave. and 2102 Schlimgen Ave., Madison.
- $1,256,801 to MWF Properties for Pederson Reserve, located north of 6639 Pederson Crossing Boulevard, DeForest.