Brodhead Street Redevelopment Project - Mazomanie, Wisconsin

Mazomanie Downtown Revitalization LLC is pleased to announce groundbreaking for the Brodhead Street Redevelopment Project, redevelopment and restoration of a full block of historic buildings in the Mazomanie Downtown Historic District.

This unique project will redevelop four outdated and underutilized pre 1863 –1890 structures and restore them through adaptive reuse into four commercial storefronts with 16 affordable housing apartments. The buildings will become fully code compliant increasing safety, aesthetics and stimulating continued rebirth of Mazomanie, an historic railroad village of 1500 residents located in Western Dane County. 

Central to the project were the goals of historic preservation and the further development of cultural and heritage tourism in Mazomanie. The project represents another critical step in the continued redevelopment of the Village of Mazomanie towards these important goals.

Historic Properties Management, LLC of Mazomanie is the developer bringing this project to fruition through creative financing by combining WHEDA (Wisconsin Housing & Economic Development Authority) Affordable Housing Tax Credits and National Park Service/State Historic Tax Credits to generate the equity for the Project.  PNC Multifamily Capital of Portland, Oregon is the equity partner. The State Bank of Cross Plains is providing construction and permanent financing along with WHEDA.

Mazomanie’s redevelopment of its historic downtown began in 1992 when the State Historical Society listed 34 downtown structures on the National Register of Historic Places as a Historic District.

The Mazomanie Historic Art Center opened last fall and features local artists. 18 other building restoration efforts have been completed or are underway in the Historic Downtown’s rebirth. Mazomanie’s historic pedigree, its beautiful natural setting nestled against the bluffs of the Wisconsin River Valley, and art and historic craft found at the 1865 Historic Art Center are the three focal points for economic revitalization of it’s downtown.

“The Brodhead Street Project will be the catalyst to stimulate an improving rate of rebirth in Mazomanie through aggressive adaptation of historic buildings,” President of Historic Properties Management Dan Viste stated. “Examples of new uses include specialty and boutique shops and restaurants, such as The Old Feed Mill, Halle’s Vintage Shoppe and Whistle Stop Café.

In April of 2004, the Governor announced that an affordable housing tax credit award would go to the Mazomanie Brodhead Street Redevelopment Project. The affordable housing tax credit is administered by WHEDA.

The affordable housing tax credit program stimulates affordable housing development that meets local needs while adding value to local communities. The goal is to provide apartments at rents comparable to nearby market-rate units. Local zoning and plan commissions retain their power to decide how much rental housing is needed and where it should be.

WHEDA is Wisconsin’s state housing authority. WHEDA serves Wisconsin residents and communities by working with other organizations to provide creative financing resources and information. Its goal is to stimulate and preserve affordable housing, small business, and agribusiness.

The housing programs administered by WHEDA receive no state tax revenue assistance. WHEDA awards housing tax credits annually on a competitive basis. Tax credit developments must meet high design and operating standards. Criteria include strong management, excellent development quality, demonstrated market need, provision of services and amenities, proper local zoning and permits, and service to households at various income levels.

Local communities benefit from the affordable housing tax credit program because supported developments add to local property tax bases and contribute to attractive and economically vital neighborhoods. Without WHEDA’s distribution of these tax credits, private developers likely would be unable to proceed with construction.

Contacts:

Commercial Agent:
Historic Properties Mgmt, LLC
Dan Viste @ 608-795-9838
dviste@chorus.net

Residential Agent:
Wisconsin Management Company
Dana Pellebon @ 608-258-2080
dpellebon@wimci.com