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The original item was published from 6/5/2017 2:27:00 PM to 8/1/2017 12:00:06 AM.

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Economic Development

Posted on: June 5, 2017

[ARCHIVED] 120 Barstow Street Mixed-Use Housing Awarded Tax Credit Funding

Horizon Development Group of Madison has received an award of affordable housing tax credits from WHEDA valued at roughly $5M for creation of a proposed new development at the former vacant Hardees site downtown.  The project has some additional financial steps to achieve, but this award represents 60% of the money needed, and signals that the project will very likely move forward.  The City has also pledged $500K in TIF investment from a downtown tax district to be created this summer, and several other grants have already been obtained that total over $800K towards bricks and mortar investment in the building the project.  The project is conceptually planned to have 40-units of workforce housing, and a first floor coffeehouse café restaurant.

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