Roers Cos. will soon break ground on The Wildwood at Main, a 172-unit affordable housing development in Sun Prairie, Wis. McShane Construction Co. will provide design-assist construction services, while the development’s architect is Korb + Associates. The project is slated for delivery in August 2023.
In terms of financing, The Wisconsin Housing and Economic Development Authority has awarded the developer more than $1.5 million in federal and state low-income housing tax credits, according to documents filed with the agency, as well as bonds totaling $26.6 million, according to Dane County records. The Series A and B funds were later assigned to U.S. Bank.
The community will have sustainability features in order to achieve Wisconsin Green Built Home certification. Upon completion, the property will comprise two three-story apartment buildings, as well as various amenities such as a club room, fitness room and playground. A total of 343 parking spaces will also be available.
Located on a 5.3-acre site at 150 Schneider Road, the development will be some 13 miles northeast of downtown Madison, Wis. The community will be within walking distance of several dining, entertainment and retail options.
Last month, Roers Cos. sold the 255-unit Beyond Apartments in Woodbury, Minn., a community they had completed in 2021. According to Yardi Matrix data, the company currently owns more than 25 communities across the U.S., totaling more than 4,000 units.