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More than $9.3 million investment will support nine affordable housing developments, 485 housing units statewide
MADISON - Gov. Tony Evers, together with the Wisconsin Housing and Economic Development Authority (WHEDA), announced today the results of the latest round of competitive funding for the Vacancy-to-Vitality, Restore Main Street, and Infrastructure Access loan programs. These programs were created by bipartisan legislation and supported by historic state funding provided by the 2023-25 biennial budget that was signed into law by Gov. Evers last year. The 2023-25 biennial budget signed by Gov. Evers provided one of the largest state investments in workforce housing in state history with a $525 million investment.
“Affordable housing is one of the issues I hear most about nearly everywhere I go, and it’s an issue that connects dots between some of the most pressing issues facing our state, from success in the classroom to folks joining and staying in our workforce to overcoming mental and behavioral health issues and substance misuse. Our efforts to secure one of the largest state investments in workforce housing in state history is a critical part of our work to expand access to affordable housing across our state,” said Gov. Evers. “During our administration, more than 17,000 affordable housing units have been built in Wisconsin, and these critical programs through our historic budget investments will help make sure we continue expanding access to affordable housing and build stronger communities across our state.”
This announcement builds on longstanding efforts of the Evers Administration to expand access to safe, reliable, and affordable housing, which is a critical part of helping address the workforce challenges facing the state, support kids and families, and build healthier, stronger communities. Since 2019, over 17,000 affordable housing units and more than 26,000 housing units total have been built statewide. Of the over 17,000 units of affordable housing built, 967 units can be attributed to the Vacancy-to-Vitality, Restore Main Street, and Infrastructure Access loan programs.
WHEDA is the administrator of the $100 million Vacancy-to-Vitality, $100 million Restore Main Street, and $275 million Infrastructure Access loan programs, all of which are available for application semi-annually. To date, WHEDA has administered over $16.3 million of the available funding made possible through these innovative programs signed into law by the governor as part of the 2023-25 biennial budget.
“Since creating these products, we are contributing to the creation of 967 units in rural and urban areas for workers, their children, and our aging population who need a safe, stable place to live and thrive,” said CEO and Executive Director of WHEDA Elmer Moore Jr.
Vacancy-to-Vitality | $4 million
Union at Rose Park, a 75-unit workforce housing development in Milwaukee County, will receive a $1 million loan from the Vacancy-to-Vitality loan program, as well as $125,375 from the Infrastructure Access for eligible infrastructure installation.
Additionally, Merchant Place Apartments in Dane County will receive a $1 million loan to build an additional 124 housing units. Also in Dane County, Ellis Potter Apartments will receive a $1 million loan as well to build an additional 65 housing units.
Finally, Compass Lofts in Milwaukee will receive a $1 million loan to add 67 housing units to the Milwaukee community.
Infrastructure Access | $5 million
Impact Hayward Homes, a previous Infrastructure Access awardee, is eligible for another $400,000 loan for infrastructure installation to support a 40-unit workforce housing development in Sawyer County.
The Plymouth Project in Sheboygan County will also receive a loan of about $3.4 million to support a project to add another 94 housing units to the community.
Finally, Conway at Huxley Yards will receive an Infrastructure Access loan of more than $1.2 million to add 50 units in Dane County.
Restore Main Street | $200,000
Two projects are eligible for Restore Main Street loans to rehabilitate housing on the second or third floors of an existing building with commercial space on the ground level. Cherry Lane in Door County is eligible for $160,000, and Suites on Villard in Milwaukee is eligible for $40,000. Together, these projects will provide 10 housing units.
For further details on the application awards, visit WHEDA’s website here.
An online version of this release is available here.