NOVEMBER 2023 ISSUE





Dane County Awards $10.8 Million to Create 458 New Affordable Housing Units





Dane County Executive Joe Parisi


Dane County will award $10,866,801 to help bring eight affordable housing projects to reality, County Executive Joe Parisi announced today. The projects will receive dollars from the Dane County Affordable Housing Development Fund. This funding will be used to create 458 new affordable housing units, including 410 units in the City of Madison, and 48 units in the communities of Oregon and Fitchburg. Dane County’s Affordable Housing Development Fund was originally created in the 2015 budget and establishes a source of funding to assist in the creation of affordable housing in Dane County.



“Affordable housing plays a key role in increasing opportunity for all of Dane County’s residents, and we are excited the Affordable Housing Development Fund will help support these new projects in our community,” said Dane County Executive Joe Parisi. “Through these types of partnerships, we can create more affordable housing projects and, in turn, advance efforts that make housing more accessible in our community.”



The Dane County Affordable Housing Development Fund has committed $42,524,593 to affordable housing projects since its inception, including the 2023 award recommendations. 56% of funds have gone to projects inside of Madison, and 44% have gone to projects outside Madison. Total units projected to be created are 2.808, with 2,507 (91%) of those units being affordable.



The projects being funded this year by Dane County include:


A. $970,000 to Northpointe Development II Corporation for the 24 unit Main Street Townhomes project at 249 N Main Street, Oregon. The proposed project includes twenty-four (24) units comprised entirely of 3-bedroom units. All 24 units will be affordable: five to households at 30%, ten at 50%, and nine at 80% of the County Median Income (CMI). Main Street Townhomes will target five units to individuals and families experiencing homelessness. The project anticipates submitting a 4% application to WHEDA in 2023.


B. $1,370,000 to 680 Canyons LLC for The Canyons, a 60 unit project located at 680 Grand Canyon Drive, Madison. The Canyons will be comprised of 60 units to include 14 1-bedroom, 31 2-bedroom, and 15 3-bedroom units. 12 units will be affordable to households at 30%, 24 units will be affordable to households at 50%, 15 units will be affordable to households at 60% CMI, and the remaining nine units will be offered at market rate rent. The Canyons will target a total of six units to households experiencing homelessness. The project has secured a 9% tax credit award.


C. $970,000 to Northpointe Development II Corporation for Uptown Hills Townhomes, a 24 unit project located at 5078 Haight Farm Road, Fitchburg. The project will includes 24 units comprised entirely of 3-bedroom apartments. Five units will be affordable at 30%, ten units affordable at 50%, and nine units affordable at 80% CMI. Uptown Hills Townhomes will target five units to households experiencing homelessness. The project anticipates submitting an application to WHEDA for 4% tax credits in 2023.


D. $1,510,000 to MSP Real Estate, Inc. for Yellowstone Apartments, a 60 unit project located at 426 South Yellowstone Drive, Madison. The project will include 60 units consisting of 25 1-bedroom, 25 2-bedroom, and ten 3-bedroom units. 12 units will be affordable at 30%, 24 units will be affordable at 50%, and 15 units will be affordable at 60% CMI. The remaining nine units will be offered at market rate. Yellowstone Apartments will target 12 units to households experiencing homelessness. The project has secured a 9% tax credit award.


E. $2,510,000 to Northpointe Development II Corporation for Merchant Place, a 124 unit project located at 6706 & 6714 Odana Road, Madison. The project will include 14 studios, 64 1-bedroom, 20 2-bedroom, and 26 3-bedroom units. 25 units will be affordable to households at 30%, 49 units at 50%, 16 units at 60%, and 34 units at 80% CMI. 25 units will be targeted to households experiencing homelessness. The project anticipates submitting a 4% tax credit application to WHEDA in January of 2024.


F. $1,370,000 to Neighborhood House Community Center, Inc. for The Neighborhood House Apartments, a sixty (60) unit project at 29 S. Mills Street, Madison. The project will include 30 1-bedroom, 18 2-bedroom, and three 3-bedroom units. 12 units will be affordable to households at 30%, 25 units at 50%, and 14 units at 60% CMI. The remaining nine units will be offered at market rate. 12 units will be targeted to households experiencing homelessness. The project anticipates submitting a 4% tax credit application to WHEDA in January of 2024.


G. $1,610,000 to Lutheran Social Services & JT Klein Company, Inc. for Oak Ridge at University Park II, an 80 unit project at 655 S. Whitney Way, Madison. The project will include 46 1-bedroom, and 34 2-bedroom units. 16 units will be affordable to households at 30%, 32 units at 50%, and 32 units at 80% CMI. 16 units will be targeted to households experiencing homelessness. The project anticipates receiving a non-competitive 4% tax credit award.


H. $556,801 to Lutheran Social Services & JT Klein Company, Inc. for University Park Commons II, a 68 unit project at 625 Sand Pearl Lane, Madison. The project will include 36 1-bedroom, 18 2-bedroom, and 14 3-bedroom units. 22 units will be affordable to households at 30%, 15 units at 50%, and 16 units at 60% CMI. The remaining 15 units will be offered at market rate. 14 units will be targeted to households experiencing homelessness. The project has secured a 9% tax credit award.



Dane County used an application process to review eligible projects. A resolution to approve these allocations of Dane County’s Affordable Housing Development Fund was introduced at the Dane County Board meeting Oct 5.