MARINETTE, Wisconsin, September 9, 2022 – Julie Lassa, State Director of Rural Development for the United States Department of Agriculture (USDA), joined representatives from Newcap Inc, Trolley Station Terrace, Hunt Capital Partners, WHEDA, Merchants Capitol Corp, WEDC and others at a groundbreaking ceremony 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 demonstrate the type of successful projects that can be developed by a group of dedicated individuals representing the non-profit, public and private sectors,” said Lassa. “Under the leadership of the Biden-Harris administration and Secretary Vilsack, USDA continues its strong partnership with rural communities to promote opportunity and economic prosperity.” [Audio: Mp3, 28 seconds, 667KB]
USDA Rural Development’s Multifamily Housing Loan Guarantee Program contributed $1.8 million towards the construction of the 45-unit complex. The total cost of the project is over $10 million and includes $6.3 million in low-income housing tax credits through WHEDA.
The new three-story building features 13 one-bedroom units, 25 two-bedroom units and seven three-bedroom units catering to residents of all ages. Accommodations are equipped with energy-efficient appliances and feature community amenities such as a fitness center, rooftop terrace, community room, playground, and outdoor pet area.
To learn more about rural investment resources, interested parties should contact our USDA Wisconsin Rural Development Office at 715-345-7600 or [email protected]
Rural Development provides loans and grants to help expand economic opportunity, create jobs, and improve the quality of life for millions of Americans in rural areas. This aid supports the improvement of infrastructure; Business development; lodging; community facilities such as schools, public safety and health care; and high-speed Internet access in rural, tribal and very poor areas. For more information, visit www.rd.usda.gov/wi.
If you would like to subscribe to USDA rural development updates, visit our GovDelivery subscriber page.