Affordable housing project in Eau Claire awarded $800K in tax credits

A rendering of the Prairie Heights Residences project provided to the Eau Claire City Council...
A rendering of the Prairie Heights Residences project provided to the Eau Claire City Council in 2019.(City of Eau Claire)
Published: Apr. 27, 2021 at 3:05 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

EAU CLAIRE, Wis. (WEAU) - An affordable housing project in Eau Claire is awarded $800,000 in tax credits by the Wisconsin Housing and Economic Development Authority Tuesday.

Prairie Heights Residences, a proposed four-story building with 80 total housing units, including eight units that would be reserved for people experiencing homelessness, would be located on Eau Claire’s east side on Birch Street near River Prairie Drive.

The $800,000 is part of $35.1 million total federal and state housing tax credits awarded in Wisconsin to 33 different housing projects.

According to the accepted zoning proposal with the city of Eau Claire, Prairie Heights will also provide 9,168 feet of commercial space and a two-level parking deck with 126 spaces. The Eau Claire City Council approved the zoning change for the site on November 26, 2019 and amended the zoning ordinance nearly one year later on November 2, 2020.

A map showing the location for Prairie Heights Residences in Eau Claire.
The location of the proposed Prairie Heights Residences mixed-use building in Eau Claire, on the city's east side.(WEAU)

The tax credits are awarded through the 2021 Housing Tax Credit Program.

Wisconsin Gov. Tony Evers says that demand outpaces supply for the program, which received requests totaling $57 million, and says that’s why his budget proposal increases the available state tax credits per year from $7 million to $10 million.

In order to receive the credits, developers must agree to reserve at least some of their housing units for low- and moderate-income households for 30 years. Criteria for receiving the credits include management, the quality of development, local need, proper zoning, employment opportunities nearby, and other support services.

To learn more about the program, click here.

Copyright 2021 WEAU. All rights reserved.