$20.8 million. That’s how much funding five Madison community projects will be receiving through Wisconsin’s Neighborhood Investment Fund.
The grant was part of a COVID-19 recovery investment into local neighborhoods — supported by the City of Madison or Dane County throughout the process. We’re breaking down each of these additions to the 608 community.
The Madison Public Market
Located at 200 N. First St., the market will receive $4 million from the state’s program to help train and mentor young entrepreneurs. The space will break ground in November — after years of uncertainty — and will host 100+ small businesses in the community-focused destination through its MarketReady program.
The Urban League of Greater Madison’s Black Business Hub
The Black Business Hub — which has received several rounds of funding over the past months — will have the resources to put toward business development + entrepreneurship support with $5 million from the grant. The four-story, 76,000 sqft multi-use center on Madison’s South Side will be home to Black-owned businesses, as well as spaces to support BIPOC networking and entrepreneurs.
The Bayview Foundation
$2 million of the grant money will support The Bayview Foundation’s $52 million redevelopment project, which will provide housing options to 200 low-income residents on the southwest edge of Madison’s downtown. The four-story, 48-unit building has also raised capital from the Goodman Foundation + other donors to help reconstruct “The Triangle” at the corner of West Washington Avenue and Regent Street.
The Center for Black Excellence and Culture
With a planned opening in the fall of 2023, The Center received $5 million to support economic opportunities within the historic Black neighborhood on the South Side. The 65,000 sqft Black-inspired and Black-designed project will feature three stories of space for cultural, health, and business development.
Centro Hispano’s community center
New facilities are a part of Centro Hispano’s plan for the $4.8 million grant from the state. The South Side organization owns property on the 800 block of Hughes Place + wants to increase facilities on the block. The nonprofit will continue to expand its workforce training and programming with the funds, serving Latinos in Dane County.