Lincoln Avenue Communities Celebrates Grand Opening of Affordable Housing in Madison
On March 10, 2025, a momentous celebration unfolded in Madison, Wisconsin, as Lincoln Avenue Communities (LAC) inaugurated The Derby Apartments, marking a pivotal step in addressing the growing affordable housing crisis. The ceremony was graced by prominent attendees, including Governor Tony Evers and several local leaders, who highlighted the importance of this initiative in their community. The Derby Apartments stand as a four-story mid-rise building designed to offer 70 units of affordable housing, catering primarily to families in need.
The event featured speeches from key figures such as Kevin McDonell, LAC's Vice President and Regional Project Partner, who expressed excitement about the opening. "We are thrilled to officially open The Derby to families and individuals in Madison," said McDonell. He emphasized the need for affordable living options in one of Wisconsin's rapidly growing areas, as housing prices continue to escalate across the state.
Elmer Moore, President and CEO of the Wisconsin Housing and Economic Development Authority (WHEDA), further underlined the significance of the project, commenting on The Derby's role as a trailblazer in Wisconsin's affordable housing developments. Moore noted, "The Derby is notable as one of the first developments to receive a $1 million Vacancy-to-Vitality loan, following a historic $525 million bipartisan housing legislation package. This initiative underscores our commitment to increasing affordable housing availability across the state."
The grand opening also showcased the collaborative spirit of local leadership. Alongside Governor Evers, speakers included Madison Mayor Satya Rhodes-Conway, Dane County Executive Melissa Agard, and Madison City Council President Yanette Figueroa Cole, all of whom praised LAC’s efforts in enhancing the community’s housing landscape.
The Derby Apartments aim to support those earning between 30% to 60% of the area median income and prioritize local veterans through the Dane County Veterans Service Office, showcasing a thoughtful approach to serving the community's diverse needs. The facilities are also designed with community welfare in mind, offering 2,600 square feet of amenities featuring a fitness room, outdoor gathering spaces, a playground for children, and a dog park. Additionally, a first-floor office suite includes essential services such as private offices, a conference room, and community resources from the Allied Wellness Center, ensuring that residents have access to necessary support right within their building.
Lincoln Avenue Communities, a significant player in the affordable housing sector, operates in 28 states and has a portfolio of over 170 properties, serving more than 80,000 residents nationwide. As a mission-driven developer, LAC is dedicated to providing sustainable housing options for low- to moderate-income individuals, families, and seniors, reinforcing their commitment to fostering thriving communities across the country.
The Derby Apartments stand as a beacon of hope for the future, not only improving the lives of individuals and families in Madison but also serving as an inspiration for further affordable housing developments across Wisconsin. As LAC continues its mission, the community may expect more transformative projects that align with its vision of accessible housing for all.
The event featured speeches from key figures such as Kevin McDonell, LAC's Vice President and Regional Project Partner, who expressed excitement about the opening. "We are thrilled to officially open The Derby to families and individuals in Madison," said McDonell. He emphasized the need for affordable living options in one of Wisconsin's rapidly growing areas, as housing prices continue to escalate across the state.
Elmer Moore, President and CEO of the Wisconsin Housing and Economic Development Authority (WHEDA), further underlined the significance of the project, commenting on The Derby's role as a trailblazer in Wisconsin's affordable housing developments. Moore noted, "The Derby is notable as one of the first developments to receive a $1 million Vacancy-to-Vitality loan, following a historic $525 million bipartisan housing legislation package. This initiative underscores our commitment to increasing affordable housing availability across the state."
The grand opening also showcased the collaborative spirit of local leadership. Alongside Governor Evers, speakers included Madison Mayor Satya Rhodes-Conway, Dane County Executive Melissa Agard, and Madison City Council President Yanette Figueroa Cole, all of whom praised LAC’s efforts in enhancing the community’s housing landscape.
The Derby Apartments aim to support those earning between 30% to 60% of the area median income and prioritize local veterans through the Dane County Veterans Service Office, showcasing a thoughtful approach to serving the community's diverse needs. The facilities are also designed with community welfare in mind, offering 2,600 square feet of amenities featuring a fitness room, outdoor gathering spaces, a playground for children, and a dog park. Additionally, a first-floor office suite includes essential services such as private offices, a conference room, and community resources from the Allied Wellness Center, ensuring that residents have access to necessary support right within their building.
Lincoln Avenue Communities, a significant player in the affordable housing sector, operates in 28 states and has a portfolio of over 170 properties, serving more than 80,000 residents nationwide. As a mission-driven developer, LAC is dedicated to providing sustainable housing options for low- to moderate-income individuals, families, and seniors, reinforcing their commitment to fostering thriving communities across the country.
The Derby Apartments stand as a beacon of hope for the future, not only improving the lives of individuals and families in Madison but also serving as an inspiration for further affordable housing developments across Wisconsin. As LAC continues its mission, the community may expect more transformative projects that align with its vision of accessible housing for all.
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