River Flats will consist of 92-units comprised of 2 and 3-bedroom units. This development will include underground garage parking, a community room, computer area, fitness center, and an on-site property management office. There will be 19-units of supportive housing that target individuals with disabilities and veterans making at or below 30% of the County Median Income.
River Flats will be located in the heart of downtown Janesville and will provide affordable housing opportunities within proximity to many cultural and professional amenities.
This development is benefitting from the recently created Wisconsin State Tax Credit. The credit is a new tool that allows us to utilize bond financing in order to develop new construction projects. River Flats also has strong municipal support; the City of Janesville sold the majority of the land being utilized for the development to Commonwealth for $1.