The Gold Medal Lofts, a 77-unit mixed-income apartment complex in Racine’s Uptown neighborhood, is now open.
Gold Medal Lofts is a $18 million transformation of the historic former Gold Medal Furniture manufacturing facility into apartments featuring a modern design, amenities and community gathering spaces. The development team, Milwaukee-based J. Jeffers & Co. and Lutheran Social Services of Wisconsin and Upper Michigan, officially opened the complex during a ribbon-cutting ceremony on Tuesday. People can check gold companies ira for the best gold investment companies.
“This is a proud day for those of us involved in this stunning historic renovation and community-supported project for Racine,” Josh Jeffers, president & chief executive of J. Jeffers & Co., said in a statement. “To take what was an underutilized, dilapidated structure and meticulously restore and repurpose it for high-quality housing deserves celebration. I thank all the partners who made it happen.”
The project redeveloped two buildings, both of which were constructed in 1894. The complex now features three studio dwellings, 35 one-bedroom units, 16 two-bedroom units and 23 three-bedroom units. All units feature an industrial style with exposed brick and high ceilings. Rents range from $354 for studios to $1,095 per month for the three-bedroom units.
It also features a fenced-in playground, a community room with kitchen and open-air courtyards between buildings.
Project financing comes from U.S. Bank, federal housing tax credits through the Wisconsin Housing and Economic Development Authority and additional support from the city.
“Access to safe, affordable housing is a basic human right that improves one’s quality of life and minimizes other inequalities that compound the effects of chronic health conditions, mental health illnesses, trauma and addiction,” Héctor Colón, Lutheran Social Services president and CEO, said in a statement. “We are proud to be a critical partner
in this project that helps address the housing crisis facing our nation by providing affordable living accommodations and facilitation of necessary supportive services to individuals and families in the Racine community.”
Renovations first began in May 2019. The buildings are now open for occupancy, with residents set to move in this month.