Former Middle School Receives Tax Credits to Construct Affordable Homes

WHEDA® executive director announces award to Park Falls community during northern tour

Park Falls – Wisconsin Housing and Economic Development Authority (WHEDA®) Executive Director Antonio Riley announced this afternoon that Park Falls will be receiving affordable housing tax credits to convert the former Lincoln Middle School into residential housing.

The renovation project of the former Park Falls school building will provide 24 apartments consisting of 11 one-bedroom, 11 two-bedroom, and 2 three-bedroom units.

"It’s truly an exciting time to be a resident of Park Falls, as so many people will benefit from the construction of this residential housing development," said Riley. "Lincoln School Apartments will not only provide affordable housing for the residents of Park Falls and its surrounding community, but it will also preserve an historic school building through these renovation efforts. WHEDA looks forward to the end result of this ambitious project."

Riley was visiting Price County as part of Governor Jim Doyle’s Northern Tour, when members of the Cabinet tour Wisconsin’s northern counties.

WHEDA will be providing $3.2 million in affordable housing tax credits and financing for Lincoln School Apartments. The apartments will be owned by Park Falls Housing Limited Partnership and managed by Impact Seven, Inc.

Park Falls Area Community Development Corporation, School District of Park Falls, Park Falls Area Industrial Development Corporation, Impact Seven, and Metro-Plains, LLC are partners in the project.

The development will feature amenities such as a library, game room, business center, playground, garden plots, and storage lockers.

The City of Park Falls will also be constructing the Park Falls Area Community and Fitness Center in the gym addition of the former school. The community and fitness center will be designed to deliver wellness programs and administer non-medical exercise to area residents. It will be managed by the Park Falls Area Community Development Corporation.

The Park Falls School District closed the Lincoln Middle School building in 2006. The school district continued to maintain the building pending the outcome of a successful redevelopment effort.

WHEDA is an independent state authority that works with lenders to provide low-cost financing for housing and small business development in Wisconsin. For more information on WHEDA's housing programs, call 1-800-334-6873 or browse this web site.