Gov. Tony Evers this week joined Elmer Moore Jr., CEO and executive director for the Wisconsin Housing and Economic Development Authority (WHEDA), as well as local leaders and project partners to celebrate the grand opening of The Derby Apartments.
This new 70-unit, four-story, affordable housing development in Madison received $1 million in funding through the Vacancy-to-Vitality Loan Program, which was created as part of one of the largest investments in affordable housing in state history — $525 million — as enacted by Gov. Evers in the 2023-25 biennial budget.
The Derby is a redevelopment of the former Fast Forward Skating Rink site. The facility includes units reserved for those making 30%, 50%, and 60% of the area median income; market-rate units; and opportunities for local veterans with the Dane County Veterans Service Office.
The building features a two-story lobby space, a community room, a management office, a package room, and a fitness center. Through a partnership with the Allied Wellness Center, the Derby Apartments also includes a basis-eligible Community Service Facility Space that will provide empowerment services for residents and the surrounding neighborhood in the on-site classroom.
