HPI purchases Timber Trails in Wisconsin Rapids

 
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Note: this article appeared in "the Point," a weekly news letter distributed to employees of Alliant Energy and its subsidaries.
Heartland Properties (HPI) recently extended its commitment to quality affordable housing in Wisconsin Rapids with the re-purchase of Timber Trails Apartments. In 1995, HPI developed the property, working in partnership with the city to meet local housing needs. A 99-percent interest in the 64-unit development was later sold to Edison Capital, the affordable housing subsidiary of California's Edison International. Effective February 2001, Edison re-sold its interest in Timber Trails back to Alliant Energy.
"Timber Trails is an excellent development for young families and meets an important need in providing affordable housing for the workforce that supports Wisconsin Rapids," says John Stoneman, vice president-Real Estate and Finance and General Counsel. "HPI is proud to be able to provide quality affordable housing in the communities served by Alliant Energy."
HPI also is waiting for approval to build a 40-unit senior housing development on the site adjacent to Timber Trails.

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