Wisconsin Development Secures Key Funding

The Ace will bring 70 units, including 59 affordable homes, to Madison, Wisconsin.

Developers Movin’ Out and Commonwealth Development Corp. have closed on the financing for a new mixed-income housing community in Madison, Wisconsin.

Mortgage banking company Merchants Capital will provide $7.25 million for The Ace, utilizing a Freddie Mac unfunded forward commitment. Merchants Bank of Indiana is also providing construction loan financing of $16.89 million.

See Also:

 General development plan approved for Cottage Grove affordable housing

   ...more

Ken Notes: This is nice to see but again this is subsidized housing, not "market rate affordable". So a service or hospitality worker may not qualify, nor will they be able to find sub 1K / month housing in the downtown area. They commute in or work elsewhere.



- - Volume: 8 - WEEK: 40 Date: 10/1/2020 8:10:47 AM -