A partnership between Gorman & Co., Dane County and Great Lakes Dryhootch has completed Valor on Washington, a 59-unit affordable housing community in Madison, Wis., aimed to provide housing for veterans.
Valor on Washington is a mixed-income community that provides 50 units as affordable housing, while nine apartments have unrestricted rents. The first floor of the property is a commercial space occupied by Great Lakes Dryhootch, a nonprofit organization for veterans.
The $18.9 million project received financing from various sources, such as Dane County through its Affordable Housing Fund, the City of Madison through its Madison Community Development Division, Dane County Housing Authority, the Federal Home Loan Bank of Chicago, Associated Bank, Boston Financial, Walker & Dunlop and Wisconsin Housing and Economic Development Authority (WHEDA). Gorman & Co.’s proposal was awarded tax credit financing in 2019.
Focus on veterans’ needs
Gorman & Co. acted as architect, general contractor, developer and property manager for this project, which represents its fourth affordable housing community dedicated to military veterans’ needs.
The six-story building encompasses two- and three-bedroom apartments. Common-area amenities include a community and exercise room, a playground, underground and surface parking. The community also offers onsite social services through Great Lakes Dryhootch and the Lutheran Social Services of Wisconsin.
Located at 1322 E. Washington Ave., the property is roughly 76 miles from Milwaukee and has access to Highway 151. Medical facilities and schools are situated in the surrounding area. Dining and retail options are available in the vicinity, along South Baldwin Street and Williamson Street.
Another affordable housing project will break ground in the Madison market, a 127-unit community developed by Roers Cos. and slated for completion in 2023.