Cinnaire Solutions to purchase and rehabilitate Madison`s homeless housing projects

ith a deadline looming, a nonprofit is poised to buy the two biggest but financially challenged projects for the homeless in Madison with most residents already moved out and a different tenant mix envisioned for the future.

Cinnaire Solutions, with core operations in Madison, is moving to purchase and rehabilitate the 60-unit Rethke Terrace project for homeless singles and veterans on the East Side and the 45-unit Tree Lane Apartments for homeless families on the Far West Side for roughly $7.5 million.

The $7.5 million includes funds to buy the properties and return them to use, including repairs, replenishment of operating reserves and addressing an existing lien at the Tree Lane site.

"Cinnaire chose to pursue the purchase of the properties because our team is local to the area and we can lead with the resources and tools to balance both the needs of the residents and the local community," said Christopher Laurent, president of Cinnaire Solutions...
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