Dane County will award $10,866,801 to help bring eight affordable housing projects to reality, County Executive Joe Parisi announced in a press release today. The projects will receive dollars from the Dane County Affordable Housing Development Fund. The funding will be used to create 458 new affordable housing units, including 410 units in the city of Madison and 48 units in the communities of Oregon and Fitchburg.
Dane County’s Affordable Housing Development Fund was originally created in the 2015 budget and establishes a source of funding to assist in the creation of affordable housing in Dane County. The fund has committed $42,524,593 to affordable housing projects since its inception, including the 2023 award recommendations. Fifty-six percent of funds have gone to projects inside of Madison, and 44% have gone to projects outside Madison. Total units projected to be created are 2,808, with 2,507 (91%) of those units being affordable.
The projects being funded this year by Dane County include:
- $970,000 to Northpointe Development II Corp. for the 24-unit Main Street Townhomes project at 249 N. Main St. in Oregon;
- $1,370,000 to 680 Canyons LLC for The Canyons, a 60-unit project located at 680 Grand Canyon Drive in Madison;
- $970,000 to Northpointe Development II Corp. for Uptown Hills Townhomes, a 24-unit project located at 5078 Haight Farm Road in Fitchburg;
- $1,510,000 to MSP Real Estate Inc. for Yellowstone Apartments, a 60-unit project located at 426 South Yellowstone Drive in Madison;
- $2,510,000 to Northpointe Development II Corp. for Merchant Place, a 124-unit project located at 6706 and 6714 Odana Road in Madison;
- $1,370,000 to Neighborhood House Community Center Inc. for The Neighborhood House Apartments, a 60-unit project at 29 S. Mills St. in Madison;
- $1,610,000 to Lutheran Social Services and JT Klein Company Inc. for Oak Ridge at University Park II, an 80-unit project at 655 S. Whitney Way in Madison; and
- $556,801 to Lutheran Social Services and JT Klein Company Inc. for University Park Commons II, a 68-unit project at 625 Sand Pearl Lane in Madison.
Dane County used an application process to review eligible projects. A resolution to approve these allocations of Dane County’s Affordable Housing Development Fund will be introduced at tonight’s Dane County Board meeting.
