Sunny Side Development

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. 

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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. 

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Construction will begin in April 2024 and be completed by the end of the year.