National housing nonprofit invests in Madison

Enterprise Community Partners, a national affordable housing nonprofit, has closed on the Equitable Upward Mobility Fund, the first low-income housing tax credit fund specifically designed to support resident mobility with a focus on racial equity. One of the fund’s investments is in Fourteen02 South Park, a new mixed-use property that will provide 150 affordable apartments to Madison families and individuals earning between 30% and 60% of the area median income (AMI).

Fourteen02 South Park will feature a grocery store on the ground floor in addition to housing. The mixed-use property was chosen for investment because it is located in an area with an upward mobility rate that ranks in the top third of census tracts nationally, according to a news release.