Wisconsin Housing Preservation Corp. (WHPC), which preserves and develops quality affordable housing for low- to moderate-income populations in Wisconsin, announced in a recent press release the new construction of a transformational affordable housing development in Madison.
Rise Madison will be a 100% affordable housing community designed to meet the housing needs of individuals and families and is the largest affordable housing project in Wisconsin. The $82.3 million development will be constructed on a 6.5-acre site of a former bakery manufacturing facility at the intersection of East Washington and North Fair Oaks avenues within the Hawthorne neighborhood on Madison’s east side.
Former site buildings have been demolished, and construction began in December with completion to occur in three phases through October 2025. Two of the four buildings will be ready for resident move-in by February 2025, with pre-leasing to begin in late 2024.
All units at Rise Madison will be income-restricted and provide housing for working persons whose annual incomes fall between 30% to 80% of the area median income (AMI) in Dane County. The mix of units at Rise will be 12 units at 30% AMI, 102 units at 50% AMI, 47 units at 60% AMI, 78 units at 70% AMI, and six units at 80% AMI.
Rise Madison will be adjacent to a future bus rapid transit stop along a prominent intersection adjacent to the property. The development will provide a mix of one-, two-, and three-bedroom apartments within four buildings. Plans include two-story, three-bedroom townhomes with individual entrances, a three-story walk-up building with an elevator for seniors aged 55 years and older, and two five-story walk-up buildings. The two-story building facing East Washington Avenue will include approximately 5,000 square feet of commercial space.
Rise Madison will create approximately 1.5 acres of park space to complement the existing Hawthorne School open space to the south of the site and extend green space within the Rise community.
