The site as it looked in early November 2020. (SSM Health South Madison Campus under construction in the background.)
Photo by Retiring Guy
Wisconsin State Journal, 1/20/2024
The city would sell a vacant, one-third-acre site at 1202 S. Park St. for $1 and provide $2 million in American Rescue Plan Act funding to Eminent Development Corp. and Lutheran Social Services to do the five-story, restricted-income project with 44 units.
Under the deal for the roughly $17.2 million project, Eminent and LSS would set aside 11 units for youth aging out of the foster care system and at risk of homelessness, with the rest of the units income restricted to tenants with no more than 60% of Dane County median income. The developers, making a promise of permanent affordability, would not be required to repay the loan unless the property was sold or there was a change in use.
