Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, celebrated the groundbreaking earlier this month on the future site of The View and The Victoria at Huxley Yards in Madison, Wisconsin, during a ceremony with LAC leaders, local policymakers and partners.
The Huxley Yards developments will provide a combined 553 affordable housing units to individuals, families and seniors in Dane County earning less than 50%, 60% or 70% of the Area Median Income.
The View will provide 303 affordable housing units for families and individuals, and The Victoria will provide 250 affordable units for seniors. The View and The Victoria at Huxley Yards will also be the first new construction development established under Madison’s Oscar Mayer Special Area Plan.
The properties will offer community amenities and resident services, such as job training and nature classes. The View will feature a pool, community classroom, fitness center, and an active playground area. The Victoria will include a club room, craft room, fitness center, two rooftop courtyards, and a fenced dog run, among other amenities. Both properties will be Wisconsin Green Built Home certified and incorporate sustainability features such as rooftop solar system.
The developments are financed by Federal Low-Income Housing Tax Credits provided by the Wisconsin Housing and Economic Development Authority and the National Equity Fund; Solar Tax Credits purchased by the NEF; an Opportunity Zone Fund Investment; a Citi Cash Collateralized Taxable and Tax-Exempt construction-to-perm loan; tax increment financing from the City of Madison; and a Brownfield Idle Sites Grant from the Wisconsin Economic Development Corporation.
