The Alexander Co. on Wednesday announced that its Riverhavn development will move forward following the Stoughton Common Council’s recent approval of a development agreement.
Situated along the Yahara River across from Mandt Park, Riverhavn will be designed as a modern community.
In a public-private partnership with the Stoughton Redevelopment Authority, the development will be constructed in two phases and offer up to 250 apartments.
Community amenities will include:
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A club room with spaces for gathering, dining and remote work;Â
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A fitness center;Â
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An outdoor grilling and lounge area;Â
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A pet wash station; and
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Garage and surface parking and electric vehicle charging stations.
Planning and design will continue through the third quarter of 2026, at which time construction will commence for the first phase.
The first phase will deliver 122 apartment homes in 2027. The second phase is planned to commence in 2029 and be complete by 2030, delivering as many as 124 additional apartment homes.
Riverhavn will offer both market rate and affordable homes for households earning up to 60% of Area Median Income. Its 2027 rental ranges are projected at $1,285-$1,590 for one-bedroom apartments; $1,529-$1,900 for two-bedroom apartments; and $1,755-$2,500 for three-bedroom apartments.
