MARINETTE, Wis., Sept. 9, 2022 – U.S. Department of Agriculture (USDA) Wisconsin Rural Development State Director Julie Lassa joined representatives of Newcap Inc, Trolley Station Terrace, Hunt Capital Partners, WHEDA, Merchants Capitol Corp, WEDC and others at a ribbon cutting Thursday to celebrate the completion of Trolley Station Terrace.
“Affordable housing is vitally important to the quality of life of rural residents and the future prosperity of our communities. Trolley Station Terrace, and the partnership that created it, demonstrates the type of successful projects that can be developed by a dedicated group of people representing the non-profit, public, and private sectors,” Lassa said. “Under the leadership of the Biden-Harris Administration and Secretary Vilsack, the USDA continues its strong partnership with rural communities to promote opportunity and economic prosperity.” [Audio: Mp3, 28 seconds, 667KB]
USDA Rural Development’s Multi-Family Housing Loan Guarantee Program contributed $1.8 million to construct the 45-unit complex. The total project cost is upwards of $10 million and includes $6.3 million in Low Income Housing Tax Credits through WHEDA.
The new, three-story building consists of 13 one-bedroom units, 25 two-bedroom units and seven three-bedroom units targeting residents of all ages. The housing units are furnished with energy efficient appliances and boast community amenities such as a fitness center, rooftop terrace, community room, playground, and an outdoor pet area.
To learn more about investment resources for rural areas, interested parties should contact our Wisconsin USDA Rural Development office at 715-345-7600 or wi-rd-stateoffice@usda.gov.
Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health care; and high-speed internet access in rural, Tribal, and high-poverty areas. For more information, visit www.rd.usda.gov/wi.
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