Gov. Tony Evers and Wisconsin Housing and Economic Development Authority (WHEDA) announced that developers of affordable multifamily housing projects across Wisconsin will soon receive $32.4 million to help fill financing gaps caused by rising construction costs, interest rate increases, and supply chain delays.
Of the 22 developments in 11 counties that will provide nearly 1,200 new affordable housing units, two are in Dane County. A 54-unit project, 38Ten Parmenter in Middleton, will receive $995,000 and 45 of the units will be allocated as low-income units. Avenue Square Apartments in Madison will use $1,894,301 for building a 70-unit project of which all the units will be allocated for low-income residents.
WHEDA received grant requests totaling more than $38 million from developer partners, underscoring the need for assistance to complete these much-needed housing developments. In total, 22 developments in 11 counties will provide nearly 1,200 new affordable housing units, not only in urban settings but also in rural communities that struggle to provide housing for working families.
