We attended the groundbreaking ceremony for the largest affordable housing project in Wisconsin. Rise Madison will be a 100% affordable housing community in Madison.
The $82.3 million development will be constructed on a 6.5-acre site at the intersection of East Washington and North Fair Oaks avenues. The name Rise Madison pays homage to what was there previously, a bakery manufacturing facility.
The four-building property will create 245 affordable apartments, including several larger, family units.
“We’re excited to be here breaking ground on this incredible, and so important, project,” said Madison Mayor Satya Rhodes-Conway at yesterday’s ceremony. “You heard the number before, but I have to say it again,” she continued, “245 units of critical housing for our community.”
Located near Hawthorne Elementary School, Rise Madison will also feature approximately 1.5 acres of park space to complement the school’s existing open space.
There will also be around 5,000 sqft of commercial space facing East Washington Avenue that will be adjacent to a soon-to-come Bus Rapid Transit stop.
Completion is to occur in three phases through October 2025. Two of the four buildings will be ready for resident move-in by February 2025, with pre-leasing beginning in late 2024.