DANE WORKFORCE HOUSING FUND
The Dane Workforce Housing Fund was started to help create new Affordable Workforce Housing units in Dane County. We aim to create 500 new affordable workforce housing units in Dane County by 2023 and keep them affordable for 15 years. 14 investors have committed a total of $11.85 million to the Fund.
Structure of Investments
Loans are from $500K to $2,000,000 per project with an average of $20k per unit
Rates are 4.50% fixed for 15 years (4.0% for non-profits ), 30-35 year amortization
Loans are subordinate only to the primary source of capital (and ahead of government sources)
Our Investments
Dane Workforce Housing Fund I Investors, all local employers, are helping create 747 new units of affordable workforce housing in Dane County! 463 completed, 39 under construction and 245 breaking ground in 2024!
Mill Apartments
52-Unit at 6908 Century Ave, Middleton
Rise Madison
Dane Workforce Housing Fund Technical Advisory Committee (TAC)
Natalie Erdman, Chair
Mary Wright - WHPC
Dave Porterfield - Movin’ Out
Mike Flynn - Monona Bank
Chris Jillings - Cinnaire
Donald Bernards - Baker Tilly
Helen Bradbury - Stonehouse Development
Tom Landgraf - UW Madison Graaskamp Center
Jessica Piatt - Old National Bank
Michael Thorson - Inventure Capital
Dave Seiler - First Business Bank
Josh Marron - Park Bank
For more information about the fund, please contact Lorrie Heinemann
Email - lorrie@mdcorp.org