La Crosse, WI—Gerrard Corporation is pleased to announce progress in two major affordable housing developments – Cottages of Superior in Superior, WI, and The Carmichael in Hudson, WI. The Federal Home Loan Bank of Chicago (FHLB) has awarded Gerrard Corporation and its partners the following in grant funds:

  • $300,000 towards Cottages of Superior Phase I
  • $345,000 towards Cottages of Superior Phase II
  • $540,000 towards The Carmichael in Hudson

The first phase of the project, Cottages of Superior Phase I, broke ground in May 2016, after being awarded $300,000 in grant funds by FHLB. Two buildings have been developed as a result of the project. The first building is open January 2017, with the second building following completion shortly afterwards in February. Cottages of Superior is currently accepting applications. To apply, please contact the housing authority, Terri Milies, at 715-394-6601. Some income restrictions may apply.

Gerrard Corporation and the Superior Housing Authority were also awarded $345,000 in funds through the Affordable Housing Program (AHP) towards Cottages of Superior Phase II, located on Hammond Avenue next to the newly constructed 51st Street in south Superior. Development begins April 2017. Weather permitting, construction will be completed during the fall, and the new unit will be ready for occupancy in November 2017.

The new 24-unit multifamily development will include one-, two-, and three-bedroom units designed for general occupancy by families and seniors. Additional parking will be available, along with a community room that will provide extra amenities not generally offered in this market. These amenities will include exercise equipment, a gaming area, and a manager’s office with access to a telephone and extra computers that promote educational service. This space will also host a wellness center designed to promote empowerment and health.

FHLB awarded Gerrard Corporation and West CAP $540,000 in grant funds towards The Carmichael, a 36-unit, affordable housing development for the 55 or better senior community in Hudson, WI. Approval was granted through the AHP application on November 14, 2016. Gerrard Corporation will also be applying through the Wisconsin Housing and Economic Development Authority (WHEDA) for low-income housing tax credits (LIHTC). Pending approval in June 2017, construction on The Carmichael will begin in October 2017, weather permitting.

A range of rental rates will be available, from market rate to other affordable rates for qualified incomes. Interested individuals may add their names to a waitlist by calling 715-386-3510. Gerrard Corporation has developed four other properties in Hudson, WI. They celebrate the completion of this first major obstacle in continuing to provide affordable housing to the area.

Copyright 2018 by Gerrard Corporation

Gerrard Corporation

420 Fifth Avenue South, Suite A
La Crosse, WI 54601
608-782-4488

Hours:

Monday–Friday: 9–5

General inquiries and leasing:

paul@gerrardcompanies.com
peter@gerrardcompanies.com


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