MADISON, WISC. (WITH EXCERPTS FROM madison.com): A Madison, Wisc. nonprofit is proposing a $50 million-plus low-income housing project to replace a sprawling, vacant former bakery property on the East Side.
Wisconsin Housing Preservation Corp. (WHPC) is under contract to buy the 6-acre former Bimbo Bakeries USA property at 3401 E. Washington Ave. with the intent of creating about 250 subsidized apartments in three buildings, a small park and parking at the site. The proposed buildings would range from three to six stories.
WHPC, created in 2002, has developed and renovated more than 158 low-cost rental housing developments. The nonprofit is now working with planning and economic development firm Vandewalle & Associates to help move the proposal from concept to approval.
“From our detailed study of the neighborhood, there is great demand for additional housing in this particular area in Madison,” WHPC president Mary Wright said. “Nearby properties’ occupancy rates of nearly 100% demonstrate that the need for more housing — and especially housing affordable to people across the socioeconomic spectrum — is considerable.
WHPC would use special construction measures to insulate housing units in anticipation of the stationing of U.S. Air Force F-35 fighter jets at nearby Truax Field starting in 2023. Read the full madison.com story here.
Follow us:
