With the Board of Supervisors’ approval of more than $4.3 million Thursday, Dane County can expect to see an addition of 314 units of affordable housing spread across four communities.
Dane County officials signed off on using funds from the Affordable Housing Development Fund for four projects in Mount Horeb, Fitchburg, Madison and McFarland. This fund, established in 2015, establishes a way to assist in building more affordable housing in Dane County.
In a statement ahead of the board’s meeting, Dane County Executive Joe Parisi said that affordable housing is a “critical component to increasing opportunity for all of Dane County’s residents.”
“Challenges to housing affordability have been compounded by the ongoing COVID-19 pandemic,” Parisi said. “By partnering together and supporting these types of projects, we can create solutions and advance efforts that make housing more accessible in our community.”
The pandemic exacerbated housing issues, but the county’s affordable housing challenges preceded the public health crisis. According to Dane County staff, it could take the county about 26 years to fill the supply gap for renters paying more than half of their income on housing.
Housing affordability is based on the percent of household income spent on housing and hold different meanings based on the individual. The projects receiving funds from the county include units that are designated for people earning less than a percentage of the area median income.
For example, units restricted for those earning less than 60% of the area median income would be set aside for a family of four earning $60,060 and below.
The projects approved include the following:
- $1.4 million to Gorman & Company for the Landsby Ridge affordable workforce housing project slated for 204 Blue Mound St. in Mount Horeb. This project will consist of 51 units, of which 46 will be affordable.
- $1.3 million to Northpointe Development Corporation for The Limerick affordable housing project slated for Outlot 15 in the Nine Springs Neighborhood in Fitchburg. This project will include 127 units, of which all will be affordable. One hundred units will be targeted for seniors with the rest for families.
- $1.2 million to MSP Real Estate, Inc. for the Oscar Apartments affordable workforce and senior housing project slated for 1212 Huxley Street in Madison. The project will consist of 110 units in two buildings. One building will include 55 units of senior housing and the other will have 55 units classified as workforce family units. Of the total units, 93 will be affordable.
- $608,341 to MSP Real Estate, Inc. for the Taylor Pointe affordable workforce housing project slated for 4845 Taylor Road and 4900 Larson Beach Road in McFarland. The project will include 51 units, of which 48 will be affordable.
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