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WHEDA /  Developers and Property Managers /  Competitive Loan Financing /  Vacancy-to-Vitality

Vacancy-to-Vitality Competitive Loan

The Vacancy-to-Vitality Loan helps convert vacant commercial buildings into workforce or senior housing. These conversions can be expensive due to structural changes needed to redesign the floor plate for housing, zoning and regulatory changes or construction costs. These projects expand housing without new land use and often have lower infrastructure demands and shorter development timelines than projects on empty land.

Total funding: $100 million
Funding awarded as of spring 2026: $53,629,709

Find out more about the Vacancy-to-Vitality loan availability.

2026 Spring Award Cycle Winners

Project Name Project County Regional Set Aside Program Loan Amount
Sheboygan Bay Lake Vacancy-to-Vitality $2,640,885.00
Small Community Set-Aside Senior Set-Aside Development Company
Yes No 1111 Reed St LLC
Milwaukee Southeastern Vacancy-to-Vitality $7,518,167.88
Small Community Set-Aside Senior Set-Aside Development Company
No Yes Milwaukee Development Corp
Door Bay Lake Vacancy-to-Vitality $1,913,024.00
Small Community Set-Aside Senior Set-Aside Development Company
Yes No Spoerl Commercial
La Crosse Mississippi River Vacancy-to-Vitality $5,078,520.00
Small Community Set-Aside Senior Set-Aside Development Company
No No Three Sixty Real Estate Solutions, LLC
La Crosse Mississippi River Vacancy-to-Vitality $3,299,411.00
Small Community Set-Aside Senior Set-Aside Development Company
No No Three Sixty Real Estate Solutions, LLC
Dane Capital Area Vacancy-to-Vitality $3,925,000.00
Small Community Set-Aside Senior Set-Aside Development Company
No Yes Northpointe Development II Corporation
Brown Bay Lake Vacancy-to-Vitality $6,306,208.00
Small Community Set-Aside Senior Set-Aside Development Company
No No Three Sixty Real Estate Solutions, LLC
Dane Capital Area Vacancy-to-Vitality $1,575,000.00
Small Community Set-Aside Senior Set-Aside Development Company
Yes Yes JT Klein, Inc.
Columbia Unserved Vacancy-to-Vitality $5,280,000.00
Small Community Set-Aside Senior Set-Aside Development Company
Yes Yes Sketchworks Architecture
Milwaukee Southeastern Vacancy-to-Vitality $1,225,080.12
Small Community Set-Aside Senior Set-Aside Development Company
No No Gorman and Company
Manitowoc Bay Lake Vacancy-to-Vitality $1,639,883.00
Small Community Set-Aside Senior Set-Aside Development Company
No No Scott Crawford, Inc.
Winnebago East Central Vacancy-to-Vitality $908,971.00
Small Community Set-Aside Senior Set-Aside Development Company
No No Wisconsin Redevelopment, LLC

 

Upcoming Important Dates

May 6, 2026

Competitive application cycle scheduled to open

June 19, 2026

Spring Competitive applications due to WHEDA

Early August, 2026

Spring award announcement

The above timeline is subject to change at WHEDA’s discretion.

 

2025 Wisconsin Act 237 (Assembly Bill 194) makes certain modifications to the Infrastructure Access, Restore Main Street, and Vacancy-to-Vitality loan programs created in the 2023-25 Biennial Budget. The Spring Cycle applications open May 6, 2026 with final submissions due by 5:00 P.M. CDT on June 19, 2026. Award announcements are expected in July 2026.

  • Infrastructure Access (Wis. Stat. § 234.66)
  • Restore Main Street (Wis. Stat. § 234.661)
  • Vacancy-to-Vitality (Wis. Stat. § 234.662)

Sign up for emails related to Competitive Loan Products on our email sign-up page. Make sure to check the box labeled "Competitive Loan Products" before submitting the form.

Please submit questions about the Vacancy-to-Vitality competitive loan to home@wheda.com

 

Vacancy-to-Vitality Application Materials

Loan program resources

 

2025 Fall Award Cycle Winners

Project Name Project City Project County Program Total Units Loan Amount
Madison Dane Vacancy-To-Vitality 93 $1,000,000
Set Aside Housing Type
General Workforce
Madison Dane Vacancy-To-Vitality 177 $1,000,000
Set Aside Housing Type
General Workforce

 

2025 Spring Award Cycle Winners

Click the name of the project to see more information.

Project Name Project City Project County Program Total Units Loan Amount
Madison Dane Vacancy-to-Vitality 76 $1,000,000
Set Aside Housing Type
General Workforce
Chippewa Falls Chippewa Vacancy-to-Vitality 27 $562,807
Set Aside Targeting
General Workforce
South Milwaukee Milwaukee Vacancy-to-Vitality 20 $756,752
Set Aside Targeting
General Workforce