SSM Health impact investment supports new workforce housing development

Access to safe, stable and affordable housing plays a critical role in overall health and well-being. That's why SSM Health recently joined Madison Development Corporation (MDC) and community partners to celebrate the opening of The Bankston Apartments, a new workforce housing development in downtown Madison, Wisconsin.

Located at 429 W. Mifflin St., The Bankston Apartments brings 40 new housing units to Madison's downtown area, including 30 apartments reserved for households earning at or below 80% of Dane County's Area Median Income. The development was made possible through a partnership among MDC, SSM Health, Lake Ridge Bank and the Dane Workforce Housing Fund II...

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Leo's notes: SSM Health’s investment in Madison’s Bankston Apartments demonstrates the important evolution of moving beyond advocacy and into direct capital investment. The 40-unit downtown development includes 30 apartments reserved for households at or below 80% of Dane County AMI and has particularly relevancy for Wisconsin’s major employers. Housing shortages affect recruitment, retention and community health, and impact investing gives employers another tool to help close financing gaps without becoming housing developers themselves.