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Sturgeon Bay Develops New Affordable Housing Above Cherry Lanes

Construction is underway for new affordable apartments above Cherry Lanes Arcade in Sturgeon Bay.

News Summary

Sturgeon Bay is set to transform Cherry Lanes Arcade Bar with eight new affordable apartments. Secured funding totaling $160,000 will boost affordable housing options for local workers, especially shipyard employees, with monthly rents between $800 and $950. Construction begins in January, aligning with a broader initiative to create 485 affordable units across Wisconsin.

Sturgeon Bay on the Rise: Affordable Living Above Cherry Lanes Arcade

In the heart of Sturgeon Bay, a new project is stirring excitement among locals, particularly those seeking affordable living options. The Cherry Lanes Arcade Bar, a beloved locale for fun and games, is set to undergo a major transformation as plans unfold for the construction of eight new apartments right above its lanes!

Funding Secured for Construction

The project has received a significant boost with a $160,000 loan from the Wisconsin Housing and Economic Development Authority (WHEDA). This funding is part of WHEDA’s initiative called the Restore Main Street program, which focuses on supporting housing improvements in existing commercial spaces. Thanks to this financial backing, Sturgeon Bay is gearing up for some much-needed affordable housing.

The Details of the New Apartments

So, what will this new living space look like? The plans include a cozy mix of three studio apartments and five one-bedroom units, all located on the upper level of the Cherry Lanes building, which has a rich history dating back to its construction in 1929 as a ballroom. This upper floor, currently vacant, has played host to entertainment events ranging from boxing matches to musical performances over the decades.

A Dream for Affordable Housing

At the helm of this initiative are the co-owners of Cherry Lanes. They are passionate about creating solutions for those in need of affordable housing, especially for workers in the local area. They believe that everyone deserves a place to call home, and this project is a significant step in addressing that need.

Targeting Local Workers

The upcoming apartments are specifically tailored for shipyard and industrial workers in the Sturgeon Bay area, particularly those employed by the nearby Fincantieri Bay Shipbuilding. These professionals often face challenges finding affordable places to live, so this project is a timely solution that will promote community well-being.

Affordable Rates to Help Working Families

Monthly rent for these new units is expected to be in the range of $800 to $950, which is aligned with the affordability guidelines set by the U.S. Department of Housing and Urban Development. This means that the rents will not exceed 30% of a household’s gross income, making it accessible for renters earning up to 80% of the median income in Door County. This approach not only benefits local families but also strengthens the workforce.

Launch and Financial Backing

Construction is anticipated to kick off in January, with a hopeful timeline that sees the first units ready for residents by October. The total budget for this exciting project stands at around $645,300. Funding doesn’t stop with WHEDA, as the project has also secured $250,000 from Door County’s Workforce Housing Lending Corp. and additional financing from a local bank.

Community Support and Funding Strategy

Moreover, profits generated from the Cherry Lanes bowling alleys and arcade will be directed toward supporting the housing development, which demonstrates a commitment to the community and to improving the local living situation.

A Bright Future for Sturgeon Bay

This movement towards affordable housing is just one part of a larger initiative, with WHEDA planning to distribute over $9.3 million for various developments across Wisconsin this fall, aiming to create a total of 485 affordable housing units. Positioned as a key player in this initiative, Sturgeon Bay is set to benefit from this growing focus on community and workforce needs.

With such promising developments on the horizon, residents of Sturgeon Bay can look forward to not only enjoying the fun atmosphere of Cherry Lanes but also having nearby housing options that enrich their lives.