Two Northeastern Wisconsin housing projects were awarded funds from programs administered by the Wisconsin Housing and Economic Development Authority.
Marathon Flats, a Neenah senior living development, qualified for both Vacancy-to-Vitality and Infrastructure Access loans. It is eligible for a $1 million loan from the Vacancy-to-Vitality loan program and approximately $401,000 for infrastructure installation. Marathon Flats includes about 60 apartments and 20 acres that was redeveloped by Park Place holdings which purchased a former Kimberly Clark facility.
B Affordable Living in Clintonville is eligible for $80,000 in Restore Main Street loans to rehabilitate housing on the second or third floors of an existing building with commercial space on the ground level.
The awards were announced after the latest round of competitive funding for the Vacancy-to-Vitality, Restore Main Street, and Infrastructure Access loan programs.
“Expanding access to affordable housing is a critical part of our efforts to address our state’s generational workforce challenges and recruit, train, and retain talented folks across our state,” said Gov. Tony Evers. “I’m proud to have signed one of the largest investments in affordable housing in state history, and I’m grateful to our partners at WHEDA for getting these investments out the door, which will have a lasting impact on rural and urban Wisconsin communities alike.”
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.
WHEDA CEO and Executive Director Elmer Moore Jr. said, “Developers, government agencies, and property owners, especially those in rural areas of the state, are urged to apply during the next funding cycle in October 2024. Interest has been strong, and we are excited to receive applications for projects that will generate access to more safe, stable housing in Wisconsin.”
