Madison-based developer recognized by La Crosse Downtown Mainstreet Inc. for its development of Grand River Station
Madison, October 6, 2010
Gorman & Company, a Madison-based leader in real estate development, won the “Making a Difference” 2010 award for outstanding contributions toward the implementation of La Crosse’s “City Vision – 2000 Master Plan” for the development of Grand River Station by the board of directors of Downtown Mainstreet, Inc. in La Crosse.
Grand River Station is a mixed-use development along 3rd Street between Jay and King Streets in downtown La Crosse. The project includes a transit center, retail, rental housing, and a parking deck. The project has been more than 16 years in the making, and the housing component was recently made possible through the combination of a $9.4 million Low Income Housing Tax Credit Exchange grant through the American Recovery and Reinvestment Act (ARRA) with construction loan financing in the amount of $3.6 million. Gorman & Company developed the housing component of the project.
The rental housing at Grand River Station will be targeted toward artists and entrepreneurs and will include 92 units, the design of which will include live/work spaces and amenities such as a business center, artists’ workspaces, an art gallery, theater, fitness room, and green roof with patio area.
The project will also be designed to accommodate the deaf and hearing-impaired population; Gorman & Company will focus on filling fifty percent of the units with individuals with this sensory disability.
Grand River Station will be a mixed income community, with many of the rental units targeted for residents earning 30%, 50% and 60% of the county median income for La Crosse County. Many of the apartments are already complete and occupied, with more completed and available for rental each month.
Gorman & Company, Inc., headquartered in Madison, Wisconsin, was created in 1985 with a mission to create high-quality housing opportunities. Through its use of public and private partnerships, Gorman & Company specializes in the renovation of historic buildings and renaissance of traditional urban neighborhoods, and is renowned for its quality craftsmanship, dependability, and sensitivity to building communities. For more information or to view our portfolio, please visit www.GormanUSA.net.