Madison’s two largest Housing First projects have been listed for sale following financial challenges, according to the Wisconsin State Journal. Interested parties are asked to submit purchase offers.
The city and others have provided assistance to tenants at both properties in obtaining alternative housing. Mayor Satya Rhodes-Conway and City Council members on Tuesday introduced a resolution that would provide up to $424,000 in federal funds to the current property manager to help secure housing for a small number of tenants lacking housing vouchers.
The post-sale usage of the buildings is unclear. The court-appointed receiver who listed the properties for sale is projected to have funds to operate one property, Tree Lane, on the city’s far west side, through the end of April and the other, Rethke Terrace, on the east side, until the end of May. This, coupled with the process requirements likely needed to gain approvals of a sale, have created heightened urgency to identify prospective buyers.
