Madison housing gets boost from Alliant Energy

 
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Note: this article appeared in "the Point," a weekly news letter distributed to employees of Alliant Energy and its subsidaries.
A $6.6 million development on Madison's near east side will bring affordable housing to residents, thanks to a partnership between Heartland Properties Inc. (HPI), a subsidiary of Alliant Energy Resources, and Common Wealth Development.
HPI is investing $2.9 million in the Yahara River View Apartments. On Tuesday, Oct. 8, a groundbreaking ceremony was held at the new development site at 1459 E. Main St. More than 80 people were on hand for the event, including HPI President Ruth Domack. "There's a great need for affordable housing in Madison, and we're very excited about the opportunity to increase our portfolio of investments in this area," said Domack
Yahara River View Apartments will be a multi-family development with 60 units, consisting of studio, one-, two- and three-bedroom apartment homes. Fifty-two units will be dedicated to meeting the needs of low- to moderate-income families. Eight apartments will be rented at market rate. The property will be ready for occupancy in July 2003.
Yahara River View Apartments is considered the cornerstone of future development in the Yahara River Parkway area, and a major step toward the revitalization of the East Rail Corridor. The city of Madison Common Council adopted a land-use plan for the area in March of this year that recommended development of medium density, affordable housing in selected areas of the corridor. Yahara River View Apartments also is the first investment implemented under the Yahara River Parkway Master Plan, adopted in 1998.
Yahara is HPI's latest investment in Wisconsin, and one of more than 127 developments in the Midwest.

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