Advancing Affordable Housing in Sturgeon Bay: The Avenue Project

The City of Sturgeon Bay approved a memorandum of understanding for The Avenue, bringing 59 much-needed housing units to the city.

We're excited to share some promising news about our latest development project that will make a meaningful difference in our community. The City of Sturgeon Bay has approved a memorandum of understanding (MOU) for our affordable housing initiative, The Avenue, which will bring 59 much-needed housing units to the city.

A Community-Driven Vision

The support for this project runs deep. Mayor David J. Ward recently highlighted Sturgeon Bay's decade-long struggle with affordable housing, emphasizing the city's commitment to addressing this critical need. In a letter to WHEDA (Wisconsin Housing and Economic Development Authority), the mayor underscored the collaborative effort to make The Avenue a reality.

A Thoughtful Approach to Community Housing

Project Highlights:

• A total of 59 units across three three-story buildings
• Two-phase development strategy
• First phase: 39 units in two buildings
• Second phase: 19-20 units planned

Supporting the Community, Responsibly

We're proud to work closely with the City of Sturgeon Bay to make this project a reality. The development has received significant support, including:

• City-owned land sale
• Zoning change from commercial to multi-family residential
• Tax Incremental District (TID) #6 Expansion
• $432,146 PAYGO loan
• $500,000 affordable housing fund loan at 0% interest

Our goal is more than just building apartments. It's about creating homes that support our community's diverse needs.

Why This Matters

Sturgeon Bay has faced a significant affordable housing shortage for over a decade. The Avenue isn't just a development, it's a solution that addresses a critical community need. As Mayor Ward noted, the city is committed to working with WHEDA, Spoerl Commercial, and other partners to move this project forward.

Next Steps

We're currently awaiting final approval of low-income housing tax credits through the Wisconsin Housing and Economic Development Authority (WHEDA). We expect to hear back in May or June about the tax credit application.

Stay tuned for more updates on The Avenue project, and thank you for your continued support of Spoerl Commercial's commitment to thoughtful, community-focused development.

Source: Door County Pulse