WHEDA® Leader Takes Part in Bayview Terrace Ribbon Cutting Ceremony

WHEDA Executive Director and housing officials gather to speak at senior housing complex

Sturgeon Bay – Wisconsin Housing and Economic Development Authority (WHEDA®) Executive Director Antonio Riley joined housing officials this morning to speak at the ribbon-cutting ceremony for Bayview Terrace City, a senior housing complex in Sturgeon Bay.

WHEDA provided $1.84 million in affordable housing tax credits to Bayview Terrace City in April of this year. The awarded tax credits will help fund the renovation of the three existing 12-unit buildings, located at 525 - 537 S Neenah Avenue, over the next 10 years.

"It’s very rewarding for WHEDA to play a major role in this renovation effort," said WHEDA Executive Director Antonio Riley. "WHEDA believes in supporting developments like Bayview Terrace City, which provides safe, affordable housing for its area seniors."

The tax credits will help to renew the condition of the residential units, improve access to second floor residences through the addition of chair lifts in three stair wells, and renew and improve existing common areas as well as construct a new accessible 2,000 square foot common building. The new common building will contain: a community room, resident computer center, a new and accessible laundry room, a new and accessible leasing/management office, a fitness center, and a beauty salon area.

Upon completion of the new common area building and community room, ownership and management will work to create on-site services to benefit residents, such as: fitness and nutrition classes, craft classes, informative seminars, flu shot clinics, and a small lending library.

Menachem Rapoport of Crown Court Properties, Ltd. and Rose Andler of ACC Management Group, also joined Riley at the ceremony. The Mequon-based Crown Court Properties owns Bayview Terrace and several other housing properties for low to moderate income households.

WHEDA is an independent state authority that works with lenders to provide low-cost financing for housing and small business development in Wisconsin. Since 2003, including this project, WHEDA has financed or allocated tax credits for 728 units of affordable housing in downtown Milwaukee, totaling more than $80 million. For more information on WHEDA's housing programs, call 1-800-334-6873 or browse this web site.