Mike Slavish, WHPC president, speaks at the new Rise Madison affordable housing development grand opening on September 9, 2025.
Rise Madison is a 100% Affordable Housing Development for Working Individuals, Families, and Seniors in a High-Demand Madison Neighborhood.
Wisconsin Housing Preservation Corp. (WHPC), a leader in the preservation and development of quality affordable housing for low- to moderate-income populations in Wisconsin, hosted the grand opening for Rise Madison, a transformational affordable housing development in Madison, Wisconsin, on Tuesday, September 9, 2025 at Rise Madison.
Over 80 people attended the celebration. Speakers and dignitaries at the event included WHEDA Cheif Executive Officer Elmer Moore, Madison Deputy Mayor Christie Baumel, City of Madison District 12 Alderperson Julia Matthews, CREA Senior Vice President Neela Martin, WHPC Vice President of Development Megan Walela, and WHPC President Mike Slavish.
Guided tours of apartments and buiding amenities were provided to give attendees a view of units in two Rise buidings: Hawthorne Pointe and The Starling senior apartments. Guests were also able to walk the grounds including the 1.5-acre green space and playground on the property.
See the television media coverage of the grand opening event here
“The WHPC team is extremely proud to bring this important affordable/workforce housing development to Madison’s East Side. This will be an integrated residential campus capable of accommodating both families and seniors,” said Mike Slavish, President of WHPC. “WHPC is committed to creating developments that are not only beautifully designed and rich with amenities, but a home where our residents can experience a true sense of community.”
Rise Madison is a 100% affordable housing community and one of the largest affordable housing projects in Wisconsin. The development allows WHPC to fully embrace its mission to provide vital housing to low- and moderate-income individuals, families and seniors in Wisconsin.
The new four-building development is located at East Washington Avenue and North Fair Oaks Avenue on Madison’s East Side. It features 245 workforce apartments with a mix of one-, two-, and three-bedroom units for families and seniors. The buildings range in size from two to five stories, one of which is a townhome building.
Rise includes approximately 1.5 acres of park space for residents with walking trails and a playground for children of all ages. Amenities include three community rooms, two fitness rooms, underground parking, and a rooftop plaza. Lutheran Social Services is providing an on-site part-time resident services coordinator.
Construction of Rise began in December 2023, and the first three buildings—Hawthorne Pointe, the Vireo Townhomes, and The Starling—are now open. The fourth building, The Phoebe, will open in early October, and applications are being accepted for all buildings.
The $82.3 million development is constructed on a 6.4-acre site in Madison’s Hawthorne neighborhood, about four miles northeast of the Capitol Square. The site formerly housed bakery manufacturing facilities that had been vacant for four years. The area is well-served by public schools, community centers, health clinics, groceries, and employment opportunities. Rise is also located adjacent to the Madison bus rapid transit Route A line and Hawthorne Elementary School.
All 245 units at Rise Madison are income-restricted and provide vital housing for people whose annual incomes fall below or between 30% to 80% of the area median income (AMI) in Dane County. For example, a two-person household eligible to live at Rise Madison would need to have incomes ranging below or between $31,170 to $83,100 in 2025 figures, depending on the number of bedrooms provided. The mix of units at Rise is 12 units at 30% AMI, 102 units at 50% AMI, 47 units at 60% AMI, 78 units at 70% AMI, and six units at 80% AMI.
To finance the development, WHPC was awarded 4% federal Low-Income Housing Tax Credits (LIHTCs) in fall 2023 through the Wisconsin Housing and Economic Development Corporation (WHEDA). These credits are being purchased by tax credit syndicator CREA of Indianapolis. Other funding sources include a permanent loan funded through tax-exempt bonds from Associated Bank and Johnson Bank, the City of Madison Affordable Housing Program and tax incremental financing (TIF), WHPC Capital Magnet Fund, the Dane Workforce Housing Fund, a Wisconsin Economic Development Corporation (WEDC) Brownfield Grant, and WHPC’s own investment.
Other partners involved in Rise Madison include McGann Construction, Knothe Bruce Architects, Vierbicher Engineering, ACC Management Group, Destree Design Architects, Parkitecture Landscape Architecture, and True North Consultants.
View Grand Opening Event Gallery Here:
