WHEDA grants support future senior living apartments
Tuesday, October 09, 2018
The Wisconsin Housing and Economic Development Authority (WHEDA) recently awarded State Housing Tax Credits to The Depot at 300 River St., a multifamily development in River Falls. The tax credits, distributed by WHEDA, will help create 50 units of affordable senior rental housing.
Located near City Hall, the Depot will go up where the old train depot used to stand.
The Depot is being developed by the Gerrard Corporation, which received $351,824 in state tax credits.
"We are so pleased that the city of River Falls has trust in our track record to bring high-quality, affordable housing to the city," said Paul Gerrard, vice president of Gerrard Corporation. "Partnerships with the city and others are what make these developments successful. WHEDA's ongoing efforts to make projects like The Depot financially feasible due to the tax credits are critical. And, we are also fortunate to have a long-standing partnership with West CAP. They will provide onsite services for residents at The Depot."