Rise Madison is 100% Affordable Housing for Working Individuals, Families, and Seniors
WHPC Delivers 245 Apartments in High-Demand Madison Neighborhood
Madison, WI, September 4, 2025 – Wisconsin Housing Preservation Corp. (WHPC), a leader in the preservation and development of quality affordable housing for low- to moderate-income populations in Wisconsin, is excited to host the grand opening for Rise Madison, a transformational affordable housing development in Madison, Wisconsin, on Tuesday September 9 from 10 – 11 a.m., at Rise Madison, 958 Rise Lane.
Rise Madison is a 100% affordable housing community and one of the largest affordable housing projects in Wisconsin. The development allows WHPC to fully embrace its mission to provide vital housing to low- and moderate-income individuals, families and seniors in Wisconsin.
“The WHPC team is extremely proud to bring this important affordable/workforce housing development to Madison’s east side. This will be an integrated residential campus capable of accommodating both families and seniors,” said Mike Slavish, President of WHPC. “WHPC is committed to creating developments that are not only beautifully designed and rich with amenities, but a home where our residents can experience a true sense of community.”
The new four-building development is located at East Washington Avenue and North Fair Oaks Avenue on Madison’s East Side. It features 245 workforce apartments with a mix of one-, two-, and three-bedroom units for families and seniors. The buildings range in size from two to five stories, one of which is a townhome building. Rise includes approximately 1.5 acres of park space for residents with walking trails and a playground for children of all ages. Amenities include three community rooms, two fitness rooms, underground parking, and a rooftop plaza. Lutheran Social Services is providing an on-site part-time resident services coordinator.
Construction of Rise began in December 2023, and the first three buildings—Hawthorne Pointe, the Vireo Townhomes, and The Starling—are now open. The fourth building, The Phoebe, will open in early October, and applications are being accepted for all buildings.
The $82.3 million development is constructed on a 6.4-acre site in Madison’s Hawthorne neighborhood, about four miles northeast of the Capitol Square. The site formerly housed bakery manufacturing facilities that had been vacant for four years. The area is well-served by public schools, community centers, health clinics, groceries, and employment opportunities. Rise is also located adjacent to the Madison bus rapid transit Route A line and Hawthorne Elementary School.
All 245 units at Rise Madison are income-restricted and provide vital housing for people whose annual incomes fall below or between 30% to 80% of the area median income (AMI) in Dane County. For example, a two-person household eligible to live at Rise Madison would need to have incomes ranging below or between $31,170 to $83,100 in 2025 figures, depending on the number of bedrooms provided. The mix of units at Rise is 12 units at 30% AMI, 102 units at 50% AMI, 47 units at 60% AMI, 78 units at 70% AMI, and six units at 80% AMI.
To finance the development, WHPC was awarded 4% federal Low-Income Housing Tax Credits (LIHTCs) in fall 2023 through the Wisconsin Housing and Economic Development Corporation (WHEDA). These credits are being purchased by tax credit syndicator CREA of Indianapolis. Other funding sources include a permanent loan funded through tax-exempt bonds from Associated Bank and Johnson Bank, the City of Madison Affordable Housing Program and tax incremental financing (TIF), WHPC Capital Magnet Fund, the Dane Workforce Housing Fund, a Wisconsin Economic Development Corporation (WEDC) Brownfield Grant, and WHPC’s own investment.
Other partners involved in Rise Madison include McGann Construction, Knothe Bruce Architects, Vierbicher Engineering, ACC Management Group, Destree Design Architects, Parkitecture Landscape Architecture, and True North Consultants.
About Wisconsin Housing Preservation Corp.
Wisconsin Housing Preservation Corp. (WHPC) is a private, nonprofit organization and a prominent leader in the affordable housing industry. Its mission is to preserve, provide, and protect affordable housing for the most vulnerable low- and moderate-income populations in Wisconsin. It believes housing is a basic right and the first step in building a better life for the people it serves. Since 2002, WHPC has acquired, developed, and renovated more than 230 affordable rental housing developments representing more than 9,400 family and senior units in 57 counties throughout Wisconsin, the majority of which provide Section 8 rental subsidies for residents who have an average income of about $13,000 per year. As WHPC continues to grow its presence in Wisconsin, it will work with its valued partners and, most importantly, its residents, to meet the challenge of helping communities provide affordable housing worthy to be called “home.”
