WHEDA and City Leaders Tour The Maxwell in Hudson

The Wisconsin Housing and Economic Development Authority (WHEDA) along with city leaders today toured The Maxwell, a multifamily development located at 2000 Maxwell Drive in Hudson. Construction of the Maxwell is nearly complete and will create 36 units of affordable rental housing.  WHEDA awarded $352,875 in Federal Housing Tax Credits to help advance the development.

WHEDA COO Brian Schimming toured the development, which is 90% completed, along with Hudson Mayor Rich O’Conner and Mike Johnson, Community Development Director for the City of Hudson.  Gerrard Corporation, the developer for The Maxwell, utilized the housing tax credits for the new construction of 36 units of affordable housing and commercial space. 

The Maxwell will offer eight units of housing with supportive services for residents with physical and/or cognitive disabilities, as well as for veterans.  Gerrard Corporation has partnered with West CAP to provide onsite supportive services. The remaining units will address the growing need for affordable housing in Hudson.

“WHEDA’s support of The Maxwell is an important step in bringing affordable housing and housing with services to the City of Hudson,” said WHEDA COO Brian Schimming.

“We’d like to thank the City of Hudson and the residents for supporting this wonderful development,” said Paul Gerrard, Vice President of Gerrard Corporation.  “Our collaboration with the city, West CAP, WHEDA, FHLB, the local chamber and others are what made The Maxwell a reality.”

WHEDA has been the sole administrator for federal affordable housing tax credits in Wisconsin since the federal program began in 1986. Since 1986 WHEDA has awarded more than $363 million in federal housing tax credits resulting in the development and rehabilitation of more than 51,000 units of rental housing for low- to moderate-income families, seniors and persons with special needs.

Tax credit developments must meet high design and operating standards. Criteria include strong management, excellent development quality, demonstrated market need, provision of services and amenities, proper local zoning and permits and service to households at various income levels.

To learn more about The Maxwell, visit www.TheMaxwell.wi.com or call 715-629-9544.

For over 45 years, WHEDA, as an independent state authority, has provided low-cost financing for housing and small business development in Wisconsin.  Since 1972, WHEDA has financed more than 73,000 affordable rental units, helped more than 125,800 families purchase a home and made more than 29,000 small business and agricultural loan guarantees.  For more information on WHEDA programs, visit wheda.com or call 800-334-6873.