WEDC investment to fund Candise Street Lofts development, Arts Incubator Studio
MADISON, WI. June 10, 2019 – The City of Jefferson is receiving a $250,000 state grant to fund the construction of a new apartment building and artist incubator studio.
The Community Development Investment Grant from the Wisconsin Economic Development Corporation (WEDC) will support the mixed-use Candise Street Lofts development, which will include 36 loft-style apartments as well as a 1,300-square-foot Arts Incubator Studio.
“WEDC is committed to working with communities throughout Wisconsin to invest in revitalizing their downtowns and enhancing their business districts,” said Mark R. Hogan, secretary and CEO of WEDC, the state’s lead economic development organization. “The Candise Street Lofts development will bring an underutilized site back to life and represents an important investment in downtown Jefferson’s economic viability and vitality.”
The $10 million redevelopment project, undertaken by developer Gorman & Company, will include the renovation of a historically significant former industrial building that has been vacant since 2012. The project site, constructed in 1916, has a long history of industrial use and has undergone several expansions and renovations in its capacity as a manufacturing facility.
In addition to increasing affordable housing options in downtown Jefferson, the project will also provide a space for artists with the Arts Incubator Studio. The studio will be located on the first floor of the building and will provide programming, workshops and trainings for artists in the community, as well as providing a space for nonprofit or advocacy groups looking to support artists.
“The City of Jefferson has strived to maintain a viable local economy and at the same time provide affordable housing for its residents,” said Dale Oppermann, mayor of the City of Jefferson. “The challenge often confronting the city is how to redevelop historical properties that require extensive and significant renovation to remain viable. The Candise Street Lofts Project will convert a historical but largely abandoned industrial structure into a vibrant waterfront focal point for the historic central business district while enhancing the community’s affordable housing options.”
“Gorman & Company is excited to build on the budding artist community in downtown Jefferson by adding unique, artist-friendly, affordable apartment homes within a historic structure next to the beautiful Rock River,” said Ted Matkom of Gorman & Company.
WEDC’s Community Development Investment Grant Program supports community development and redevelopment efforts, primarily in downtown areas. The matching grants are awarded based on the ability of applicants to demonstrate the economic impact of the proposed project, including public and private partnership development, financial need and use of sustainable downtown development practices.
Since the program’s inception in 2013, WEDC has awarded more than $20 million in Community Development Investment Grants to 79 communities for projects expected to generate more than $280 million in capital investments statewide.