City of La Crosse receives $217,900 state grant to support housing construction initiative
WEDC Secretary and CEO visits Fifth Ward Residences to celebrate housing initiative
LA CROSSE, WI. SEPT. 26, 2023 – The City of La Crosse is receiving a $217,900 state grant to convert a former Trane Company manufacturing site into apartments and townhomes on the north side of La Crosse.
“One of the top priorities of WEDC is to promote substantive local development by helping communities enhance their neighborhoods and establish firm foundations for ongoing economic growth,” said Missy Hughes, secretary and CEO of WEDC, the state’s lead economic development organization. “This housing initiative will not only allow current residents to thrive, but also provide space for La Crosse’s growing workforce to put down roots.”
“The project, as envisioned, will help revitalize the Lower Northside and Depot Neighborhood by adding more housing opportunities, economic activities, and community benefits,” according to the La Crosse Area Development Corporation (LADCO), an economic development organization committed to improving quality of life and economic opportunities for La Crosse residents. “The Fifth Ward Residences will help strengthen La Crosse’s urban core by providing housing for young professionals and empty nesters alike, increasing the property base and creating a surge of reinvestment into this area by homeowners and businesses.”
While the site has been historically used for commercial and industrial projects, it has been underused for the past eight years. Funding from WEDC will aid in the construction of one of two 72-unit apartment buildings, 14 townhomes, and other amenities such as a recreation room, fitness center, and business center. Rents will range from approximately $799/month for studios, $1,199/month for one-bedroom units, and $1,250/month for two-bedroom units. This project will give homeowners that may want to sell their current properties due to flooding or accessibility issues the option to stay in the Lower Northside neighborhood in quality affordable housing.
WEDC’s Idle Site Redevelopment program supports redevelopment of large commercial, institutional, or industrial sites that have been idle, abandoned, or underused for more than 5 years. The matching grants are awarded based on the ability of applicants to demonstrate the economic impact of the proposed project, including public and private partnership development, financial need, and use of sustainable development practices.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.
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