Greenspire Apartments is a 92-unit property owned by the Stoughton Housing Authority, located in Stoughton, WI. The property has project-based vouchers for 87 of its units, which provide affordable housing to extremely low-income seniors and this disabled.
Sunny Side Development was approached the long time property managers of ERA, Broihahn Management and Consulting, in the fall of 2020, to assist with a large-scale rehabilitation of the property. Since that time, we partnered with Crown Court Properties, a seasoned affordable housing developer, to apply for Low Income Housing Tax Credits (LIHTC) under the Preservation set-aside in 2023. We were successful in our 9% LIHTC application and were able to move forward with the project.
Later in 2023, we applied for and were awarded $5.52M from the Green and Resilient Retrofit Program (GRRP), funded by the Inflation Reduction Act and administered by HUD. As a result, Greenspire is now able to pursue the rigorous Zero Energy Certification through the International Living Future Institute.
Construction will begin in April 2024 and be completed by the end of the year.
Main entry sign
One of six buildings at Greenspire