Madison makes a plan to fund $5.9 million in affordable housing
Members of the Madison City Council have introduced a resolution to use the city’s Affordable Housing Fund to support three housing projects that will provide more than 200 lower-income units, according to a Wisconsin State Journal report. The resolution would allow developers to combine local investments and low income housing tax credits secured through the Wisconsin Housing and Redevelopment Authority. The three projects are:
- Gorman & Co, “Courtyard Lofts,” a $23.4 million project to remake the Madison Plaza Hotel;
- MSP Real Estate, “The Heights Apartments,” a $23.6 million project at 2208 University Ave; and
- Odessa Affordable Housing, “Avenue Square Senior Apartments,” a $17.3 million project at 1802-1818 Packers Ave. and 2102 Schlimgen Ave.
The City Council is expected to make a final decision on the proposed resolution on Oct. 19.