Lanes Affordable Housing Project in Door County

Sturgeon Bay - As part of the project at Cherry Lanes to construct apartments on the building’s second floor...

...The project to build eight workforce apartment units on the second floor was awarded a $160,000 Restore Main Street loan through the Wisconsin Housing and Economic Development Authority (WHEDA) to rehabilitate affordable housing. To receive a Restore Main Street low-interest-rate loan, the development must provide affordable rents, which must remain affordable for at least 10 years following occupancy...

...The affordability requirements include estimated annual housing costs that do not exceed 30% of 100% of the area median income. The housing is for occupancy of individuals whose annual household income does not exceed 100% of the area median income...