Southwest Wisconsin faces `perfect storm` of housing development challenges

PLATTEVILLE, Wis. — The chief executive of the Wisconsin Housing and Economic Development Authority says rural sections of the state are facing a “perfect storm” of challenges that impede housing development.

“We have rents that are not supporting debt,” said Joaquin Altoro. “Sometimes, developers are not flocking to communities to develop them. Finding labor to build has been tough.”

But the obstacles are not insurmountable, he said, and within the next year, state officials aim to develop a buffet of resources to assist municipalities that face the problem.

Altoro joined more than 50 elected officials, financial advisors, housing developers and economic development leaders at a public listening session Monday at Platteville Public Library, one of several visits he is making across the state.

WHEDA provided millions of dollars in tax credits for two major Platteville developments...

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Ken Notes: The only solution will be to create smaller less expensive units. Right now developers are finding the profit margins are far greater in larger apartments and homes.



- - Volume: 7 - WEEK: 49 Date: 12/5/2019 7:58:50 AM -