Saturday, July 12, 2014

Holy marketplace, Batman! Look at these low market rents!

Holy Redeemer apartments hit the market.  (Capital Times, 7/11/2014)

Have I got a deal for you!  "I told them this is a genuine benefit, we believe, to the university and the city, and that it's really unfair for the rules to be changed at the 11th hour," [Monsignor Kevin] Holmes told the Wisconsin State Journal in a story last year. 

The tax exemption, Holmes argued, would allow the church to keep rents low in the new building. 

The remaining 90% of the apartments must be leased to UW-Madison students in order for the property to remain tax-exempt.

See in-between pricing options at Lumen House

Related article:
City passes conversion.  (Badger Herald, 5/1/2013)

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