| There are token phrases that many of us have heard throughout the years to describe the housing situation in Dane County and particularly Madison. From what has been described as an affordable housing crisis to skyrocketing rental and home costs, there is no doubt that choices for quality affordable home buying or renting are often limited and sometimes downright sparse in Madison. In 2006, the median price for a home in Madison was $239,400. The national median was $217,900. Housing is considered affordable if a household spends approximately 30 percent of their income on housing costs. In 2004, a Harvard study found that only 33 percent of American households met this criteria and 50 percent of the lowest income households spent at least 50 percent of their incomes on housing. Affordable housing issues have long been a concern for government and policy leaders in Madison. On one hand, homeowners benefit when the value of their property increases. On the other hand, city leaders and residents do not want to drive potential homebuyers out of the city in search of a home they can actually afford. In the Williamson-Marquette neighborhood on Madison's near east side there is a long-standing tradition of fighting gentrification every step of the way. This vibrant area has been lauded as a colorful mixed-use neighborhood with a diverse population of renters and homeowners. But, the neighborhood is not immune to rising housing costs and, in fact, is among the leaders for growing home prices./ That is where organizations like Common Wealth Development come into play. Since 1979, this nonprofit has worked to create affordable housing options in the Williamson-Marquette neighborhood and preserve the economic diversity that the neighborhood is known for. To date, 23 properties (both single-family and income) have been bought by Common Wealth and resold to participants of their lease-purchase program -- a program that helps low to moderate-income families obtain quality affordable housing. But now, even Common Wealth is being priced out of the neighborhood. "The neighborhood has changed so much, that housing has become very expensive here," Common Wealth housing development manager Paul Jasenski said. "As the prices become higher, people of low to moderate incomes are forced out of the neighborhood. It makes it very hard to purchase a home here." Consequently, Common Wealth has broadened their property search to reach outside the neighborhood. Still, they remain committed to affordable housing issues in the Williamson-Marquette neighborhood through a number of programs offering education and affordable rental options. Common Wealth's homebuyer education and counseling program helps educate first-time homebuyers. According to Common Wealth, education is critical to reducing mortgage delinquencies and helping people stay in their homes. "What's been key throughout our history of housing programs is that there has always been a strong component of counseling and education," Common Wealth housing manager Diane Bougie said. Common Wealth is currently working on expanding its homebuyer education program to develop more post-purchase education options. Both Jasenski and Bougie point out the rising rates of foreclosures as testament that there is need for such a program. / "It's about not only helping people get into homes, but helping them stay there," Bougie said Common Wealth is also working in conjunction with WHEDA in an effort to expand homeownership opportunities for minorities in the 53704 ZIP code. Nationwide, 2005 homeownership rates for Whites was 68.9 percent, but only 48.2 percent for African Americans, 49.5 percent for Hispanics, and 60.1 percent for Asian Americans. Aside from homeownership programs, Common Wealth is also a key player in providing affordable rental options in the Williamson-Marquette neighborhood. Just three years ago, Common Wealth added 60 rental units to the Williamson-Marquette neighborhood with the development of the Yahara River View Apartments. Fifty-two of the 60 units are reserved to meet the needs of low and moderate-income individuals and families. The property boasts a healthy mix of apartment sizes and rents that are truly affordable. Yahara studios range from $440 to $458, one bedrooms range from $470 to $674, two bedrooms are $560 to $895, and three bedrooms range from $805 to $1,005. Currently, Common Wealth owns and operates approximately 100 total rental units in the neighborhood. Jasenski said that Common Wealth will continue its work to preserve the diversity that is at the heart of this community. "The heart and soul of this neighborhood is the people," Jasenski said. "Preserving the economic diversity in this neighborhood is key." While, Common Wealth faces challenges finding affordable properties in the Williamson-Marquette neighborhood, they also say these challenges are not a deterrent. "With all the talk about affordable housing, Common Wealth has shown that it is possible, it is something we can do, and it benefits the community," Bougie said. Anyone interested in joining Common Wealth's Lease-Purchase Program can sign up for their interest list by contacting Paul Jasenski at paul@cwd.org or Diane Bougie at diane@cwd.org or by calling (608) 256-3527. In addition to their housing programs, Common Wealth offers a number of community improvement programs to benefit small business, youth, and the arts. |
| Common Wealth Development Corporation Inc. Offering affordable housing for all by Laura Salinger |
| (L-R) Yahara River View Apartments & gardens; lease-purchase property along Williamson St.; Livingston condos also in Williamson St. |