KAUKAUNA — Golden Venture Apartments in Kaukauna will undergo a $14.3 million rehab following the announcement by Gov. Tony Evers of federal and state housing tax credits to help advance affordable housing and
economic recovery in Wisconsin.
The tax credits from Wisconsin Housing and Economic Development Authority will support 33 housing projects statewide, including the Golden Venture project, along with three other development submissions in the state from Commonwealth Development Corporation.
“This is a highly competitive process where I believe there were close to $60 million in requests,” said Dan Kroetz, Senior Vice President of Development, Commonwealth Development Corporation. “It takes a lot of commitment and time to complete these applications and we couldn’t be more pleased with the outcome for all four of our submissions.”
In partnership with the Kaukauna Housing Authority, Golden Venture Apartments will rehab the existing three-story building along with two other smaller buildings, according to a news release.
The property was originally built in 1968 as a senior (62+) property that will now convert out of public housing through the Rental Assistance Demonstration program.
The project will combine some smaller units into larger units resulting in a total of 66 1 & 2-bedroom
homes in the current building and eight additional units in the other two buildings.
These homes will be available for seniors (62+) making at or below 60% of the area median income
Commonwealth’s other three Wisconsin developments include:
Brooke Street Lofts (Fond du Lac) – Located on the same street as their Corporate Headquarters, Brooke Street Lofts will be an adaptive reuse of the previous Northern Casket Company and Winnebago Cheese Company buildings.
This $16.6M development will consist of 62-units of 1, 2, & 3-bedroom homes for families making at or below 80% of the area median income (AMI). Originally built in 1919, this property is currently listed on the U.S. National Register of Historic Places.
It has been vandalized and considered abandoned for multiple years and this is a great opportunity to bring it back to life with valuable housing for the community. Development partner: WPHD.