The city of Madison’s Community Development Authority (CDA) has selected New Year Investments for its Triangle Redevelopment Partnership project, according to a statement from the city. The developer is currently redeveloping the former Ella’s Deli restaurant site on East Washington Avenue for affordable to low and moderate-income households. The Triangle project is comprised of five separate sites and roughly 340 units, and the CDA will begin detailed planning for a phased, long-term approach that will replace or substantially upgrade every unit within the next five to 10 years. The city expects to finance the Triangle project with a combination of tax-exempt bonds and federal low-income and state low-income housing tax credits.
Related story: City to redevelop ‘the Triangle’
