The New Housing Development Program provides affordable housing to keep homeownership opportunities in our communities.
We partner with private for-profit businesses and non-profit groups to plan, finance, and build good quality, affordable housing that is energy efficient and responds to local community needs. HomeWorks is also committed to providing long-term housing options that allow residents to build their personal assets through mutual or cooperative ownership.
West CAP’s Non-Profit Housing Development Organization
West CAP is a certified nonprofit Community Housing Development Organization (CHDO). We utilize a variety of financing and tax credit options to lower project costs and increase affordability. Over the past sixteen years we have developed, either through acquisition and renovation, or through new construction, over 310 units of housing in communities in western Wisconsin and one project in Iowa.
On a typical project, CHDO coordinates the land purchase, assembles the development team and partners, arranges financing, serves as the general contractor, and stays with the project as asset and property manager (see the property management section of our website).
On some projects we are able to offer low-income housing tax credits to investment companies. We are also able to assist private developers in obtaining lower-cost financing so that some of the units can be available for rental at below market rates.
CHDO provides asset and property management services for all our properties.
Joint Ventures, Partnerships, and Financing Assistance
CHDO actively seeks partnerships with a companies and organizations that share our goals. Some examples of West CAP’s experience include:
The Gandolf Group – 48 apartments for low-income families in River Falls
MSP Real Estate – senior housing in Chippewa Falls
The University of Wisconsin and the Wisconsin Indianhead Technical College system – affordable student apartment housing
Havenwood and Valley Villas – assisted living facilities in Glenwood City and Spring Valley
Examples of Housing Development Partnership
Below are several detailed descriptions of some of our work:
Community development, housing for low-income seniors
Hammond Development Corporation, Hammond, Wisconsin
The village of Hammond, had asked our help in developing housing for low-income seniors who want to remain in St. Croix County, which is the fastest growing county in Wisconsin. We provided consulting services and helped them raise funds. This project is local, grassroots, and designed not only to provide needed housing but also in a broader sense, to save a small but valuable town that is able to provide a very high quality of life.
Low income housing tax credits for working families in the City of St. Croix Falls
At the request of a private commercial developer in the City of St. Croix Falls, West CAP applied for and received an allocation of the low-income housing tax credit program. We also received HOME funds from the State of Wisconsin Department of Administration, and an Affordable Housing Program grant from the Federal Home Loan Bank of Chicago. The city had almost no housing affordable to lower income working families, while the number of entry level jobs is expanding dramatically. We were approached by the developers of a new Holiday Inn and Embers restaurant, which adjoins a new Market Place Foods and an expanding Wal-Mart. These businesses were becoming a shopping magnet for the St. Croix Valley and Polk County. West CAP acquired a very adequate site that the City had zoned for medium density housing. The city’s Strategic Smart Growth Plan called for affordable housing, but the city did not have the capacity to actually develop the housing. The community did not have a non-profit development company, so it was an excellent opportunity for West CAP to provide development services.
The Glenwood Commons Student HousingÂ adjoining the Wisconsin Indianhead Technical College (WITC) and University of Wisconsin Barron County (UWBC) campuses, Rice Lake, WI
For 25 years the two campuses, WITC and UWBC, had expressed interest in providing housing close to campus in order to increase student enrollment.The City of Rice Lake had a nearly zero vacancy rate and private developers had been reluctant to build new apartments for students. For these reasons, many students found that they could not attend college because housing at any price is not available. As a recent high school graduate, many do not have high-paying jobs, without affordable housing, these individuals cannot go to college to improve their skills.
After meeting with the staff of both educational institutions for many months, the City of Rice Lake approved rezoning and a certified survey map for the project. We worked on a final version of a development plan with the city and purchased an existing apartment building close to the campuses. Using some extra land in that purchase along with land from the city to create a high-quality development site. The city was very supportive of this effort because it also allowed for the development of a technology park and opened streets for new commercial development. We engaged in a community planning project, using student housing and the educational institutions as the anchor.
Today, we have a 24 suite, 96 bed facility.
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