Nonprofit Madison Development Corp. hosts groundbreaking for workforce housing complex
Last Wednesday, nonprofit Madison Development Corp. held a groundbreaking ceremony for the Mill Apartments, an affordable workforce housing complex in Middleton, the Capital Times reports.
Wisconsin Department of Administration Secretary Kathy Blumenfeld presented a $3 million Community Development Block Grant check for the project at the event.
The complex, located at 6908 Century Ave., includes 52 units intended for working families and individuals. It works to address a severe, statewide workforce housing shortage due to failure to build enough homes to keep up with population and income growth; construction costs outpacing inflation and income increases; and outdated land use regulations.
Construction of the Mill Apartments complex is set to finish in the fall of 2024; rental applications will become available a few months before.
Madison Development Corp. currently owns and manages 352 Madison-area units of affordable workforce housing, which have a vacancy rate of 0.5%.