Beloit launches several housing projects to meet growing need

BELOIT, Wis. — Like many communities throughout Wisconsin, Beloit is actively working to build more apartments and homes to meet a growing demand for housing.

What You Need To Know

• Developers are building the Western Hills subdivision, which consists of 23 single-family homes. Each one of those homes sold within a week or two of being listed


• Now, a larger 138-home subdivision is on the way, after the city awarded a $1 million market-rate housing incentive to another developer


• The city also set aside $6 million in a Tax Increment Financing (TIF) Housing Fund, which uses taxpayer revenue to create more affordable housing options for people with lower incomes


• Beloit’s former YMCA is being converted into apartments and so are the upper floors of some storefronts downtown

The city’s population has grown for a second year in a row.

When George and June Arrowood decided to move back to Beloit from Tennessee to be closer to their grandkids, they quickly realized that finding a home was going to be difficult.

“There weren’t very many options at all,” June Arrowood said.

“We found out that renting is probably, in the long run, more expensive than buying around here, which is terrible,” George Arrowood added.

As they were looking, developers began building the Western Hills subdivision, which consists of 23 single-family homes. Each one of those homes sold within a week or two of being listed. The Arrowoods are the proud owners of one of them.

See Also:

Madison company gets extension on $3 million in city incentives

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Leo’s notes: Beloit’s proactive approach to housing—pairing incentives for market-rate development with targeted investments in affordability—is a promising model for fast-growing communities. As vacancy rates tighten and demand surges, the city’s commitment to both economic growth and housing equity is key to ensuring all residents can find a place to call home.