Dane County, home to Exact Sciences’ Madison, Wis., headquarters, lacks adequate workforce housing, meaning housing that is affordable for a family earning the county’s average median income.
In 2023, that was $123,400 for a family of four, according to the United States Department of Housing and Urban Development.
To address the issue, the Dane Workforce Housing Fund (DWHF) launched in 2020 with a goal of raising $10 million to help finance 500 new affordable workforce housing units by the end of 2023.
In that time frame, the fund exceeded its goal by raising $11.8 million from 14 investors, including Exact Sciences, and has built or is breaking ground on 747 new housing units. New apartment buildings created by the first round of funding include Uno Terrace Apartments in Madison, The Trotta in Middleton, and The Klassik in Verona.
The fund shared examples of the impact the project has had so far:
“I am a resident at UW and am on a budget, but still wanted a nice apartment in a good location for work. The Trotta is at a great location for me to easily drive to outpatient clinics on the west side of town and easily hop on the bus to get to UW’s main hospital when I need to. The Trotta has a nice gym in the building, which saves me money on a gym membership. Having an in-unit washer and dryer is amazing, especially for someone working in healthcare. A parking pass at the hospital can be quite expensive, but a bus pass is free through UW, so being directly on the route to get me to the hospital is great.”
–Kaylyn, rent $1,200
“At Landsby Ridge, our bids came back $500,000 over budget, and we had nowhere to turn to fund this overage at the closing table. DWHF saved the day at the 11th hour by fitting in with other lenders within our capital stack to make our project happen.”
–Ted Matkom, Gorman Wisconsin
“My husband’s employment brought us back. We needed to find affordable housing where he received his new teaching job. The Klassik apartments is an affordable housing community that allows me to stay home with my kids and for my husband to remain in the low-paying teaching profession. I’ve met other families in the same boat. It’s fun to see other kids up and down the elevators.”
–Avarie, family of 4, rent $1,230
“When you have suitable housing conditions and that stressor is alleviated, everyone’s doing better mentally, emotionally, physically, relationally. It’s not to be underestimated how it affects the entire community.”
–Lane Manning, Northpointe Development, Uno Terrace and Klassik apartments
Learn more about Exact Sciences’ role in the housing fund.
In 2023, that was $123,400 for a family of four, according to the United States Department of Housing and Urban Development.
To address the issue, the Dane Workforce Housing Fund (DWHF) launched in 2020 with a goal of raising $10 million to help finance 500 new affordable workforce housing units by the end of 2023.
In that time frame, the fund exceeded its goal by raising $11.8 million from 14 investors, including Exact Sciences, and has built or is breaking ground on 747 new housing units. New apartment buildings created by the first round of funding include Uno Terrace Apartments in Madison, The Trotta in Middleton, and The Klassik in Verona.
The fund shared examples of the impact the project has had so far:
“I am a resident at UW and am on a budget, but still wanted a nice apartment in a good location for work. The Trotta is at a great location for me to easily drive to outpatient clinics on the west side of town and easily hop on the bus to get to UW’s main hospital when I need to. The Trotta has a nice gym in the building, which saves me money on a gym membership. Having an in-unit washer and dryer is amazing, especially for someone working in healthcare. A parking pass at the hospital can be quite expensive, but a bus pass is free through UW, so being directly on the route to get me to the hospital is great.”
–Kaylyn, rent $1,200
“At Landsby Ridge, our bids came back $500,000 over budget, and we had nowhere to turn to fund this overage at the closing table. DWHF saved the day at the 11th hour by fitting in with other lenders within our capital stack to make our project happen.”
–Ted Matkom, Gorman Wisconsin
“My husband’s employment brought us back. We needed to find affordable housing where he received his new teaching job. The Klassik apartments is an affordable housing community that allows me to stay home with my kids and for my husband to remain in the low-paying teaching profession. I’ve met other families in the same boat. It’s fun to see other kids up and down the elevators.”
–Avarie, family of 4, rent $1,230
“When you have suitable housing conditions and that stressor is alleviated, everyone’s doing better mentally, emotionally, physically, relationally. It’s not to be underestimated how it affects the entire community.”
–Lane Manning, Northpointe Development, Uno Terrace and Klassik apartments
Learn more about Exact Sciences’ role in the housing fund.
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