MADISON, Wis. (WMTV)-- More than $7.2 million for six affordable housing projects is pending approval from the Dane County Board of Supervisors.
Dane County Joe Parisi announced the funding on Thursday. It will be used to create more than 460 affordable housing units in Madison, Cottage Grove, Fitchburg, and Mount Horeb.
“Dane County is committed to being a part of the solution to address affordable housing challenges in our community,” said Parisi. “These dollars will help bring together successful partnerships and increase access to opportunity in Dane County.”
Dane County's Affordable Housing Development Fund was created in the 2015 budget. It establishes a source of funding to create affordable housing in Dane County.
- $450,000 will go to Gorman & Company for the 87-unit Elderberry Place project at 8552 Elderberry Road in Madison. The project targets those who are 62-years-old and older with a disability. 73 units will be designated as affordable, including 50 one-bedroom and 23 two-bedroom units for individuals making between 30 percent to 60 percent of the County Median Income (CMI).
- $650,000 will be awarded to Movin’ Out for the Ace Apartments located at 4602 Cottage Grove Road, Madison. The proposed project includes 70 units comprised of a mix of 59 one-, two-, three- and four-bedroom units affordable to individuals making between 30 percent and 60 percent of the CMI.
- $1,187,550 will go to MSP Real Estate for a 111-unit project at 1212 Huxley Street in Madison. 94 units will be affordable units, including a mix of one-, two-, and three-bedrooms. This project provides a mix of affordable senior and family housing, with 23 of the units for individuals and families making at or below 30 percent of the CMI.
- $1,350,000 will be awarded to Gorman & Company for the 58-unit Landsby Ridge project at 204 Blue Moon Street in Mount Horeb. 53 units will be affordable to individuals making at or below 60 percent of the CMI.
- $1,550,000 will go to Movin’ Out for the 100-unit Glen Grove Apartments on Cottage Grove Road in the Village of Cottage Grove. The project is a mix of one-, two- and three-bedroom units. 20 percent of the units will be set aside for households where at least one family member has a disability.
- $2,050,000 will be awarded to J.T. Klien for the first 109 units of the Limestone Ridge Apartments on Fitchrona Road, south of McKee Road in Fitchburg. The project includes 82 affordable units including 50 one-bedroom, 19 two-bedroom and 13 three-bedroom units.