Developer Royal Capital Group has opened Harmony @Grandview Commons, a 94-unit affordable housing property in Madison, Wis.
Funded through a public-private partnership that includes $11 million from the Wisconsin Housing & Economic Development Authority and $5.4 million from UnitedHealthcare placed by Minnesota Equity Fund, the new development is dedicated to working families in the Madison region.
Located at 116 Milky Way in the Grandview Commons neighborhood, the property is proximate to the junction between interstates 90 and 94. Milwaukee is within a 2-hour drive of the six-building property. According to Yardi Matrix data, the community features 28 two- and 66 three-bedroom units, ranging from 885 to 1,455 square feet. The six two-story structures span across 5 acres.
Minnesota Equity Fund works in states beyond Minnesota, including Wisconsin, in coordination with investor UnitedHealth Group and its Michigan-based partner, Cinnaire.