What an exciting week for Commonwealth Development Corp. in the state of Wisconsin! Congratulations to our development team for receiving LIHTC awards from WHEDA for all four Wisconsin development submissions! This accomplishment required a lot of commitment, time, and energy and we are thrilled with the outcome. Read on to learn more about each upcoming development.
Brooke Street Lofts (Fond du Lac) – Located on the same street as our Corporate Headquarters, Brooke Street Lofts will be an adaptive reuse of the prior Northern Casket Company and Winnebago Cheese Company buildings. This $16.6M development will consist of 62-units of 1, 2, & 3-bedroom homes for families making at or below 80% of the area median income (AMI). Originally built in 1919, this property is currently listed on the U.S. National Register of Historic Places. It has been vandalized and considered abandoned for multiple years and we are thrilled for the opportunity to bring it back to life with valuable housing for the community. Development partner: WPHD.
Superior View Cottages (Ashland) – This $12M new construction development will consist of 50 1, 2, & 3-bedroom homes within 5 cottage-style buildings. Located near downtown Ashland and the Chequamegon Bay, the community will provide affordable homes for individuals or families making at or below 80% of the AMI, and will include private garages, a clubhouse, playground, and other desired amenities.
Golden Venture Apartments (Kaukauna) – In partnership with the Kaukauna Housing Authority, Golden Venture Apartments will be a $14.3M rehab of the existing 3-story building along with 2 other smaller buildings. The property was originally constructed in 1968 as a senior (62+) property which will now convert out of public housing through the Rental Assistance Demonstration (RAD) program. Through construction, we will combine some smaller units into larger units resulting in a total of 66 1 & 2-bedroom homes in the current building and 8 additional units in the other 2 buildings. These homes will be available for seniors (62+) making at or below 60% of the AMI.
Greenway Cottages (Mosinee) – This new 24-unit cottage-style development is a second phase to our existing Indianhead Cottages community. The community will target families making at or below 80% of the AMI and will include 2 & 3-bedroom homes within (2) 10-unit buildings and (1) 4-unit building. Similar to Superior View Cottages, residents will have private garages and access to a playground, fitness center, business center, and more.
All four of these developments will be done in collaboration with Commonwealth Construction Corp. (General Contractor) and M+A Design, Inc. (Architect). Watch for these properties to open between Spring & Summer, 2023!
These developments are not associated with Common Wealth Development, Inc., a not-for-profit affordable housing development company located in Madison, Wisconsin.