UHG invests in new rental homes in Madison

UHG participated in a MEF project in Madison, WI that created 94 new multifamily rental homes

Developer Royal Capital Group has opened Harmony @Grandview Commons, a 94-unit affordable housing property in Madison, Wis.

Funded through a public-private partnership that includes $11 million from the Wisconsin Housing & Economic Development Authority and $5.4 million from UnitedHealthcare placed by Minnesota Equity Fund, the new development is dedicated to working families in the Madison region.

Located at 116 Milky Way in the Grandview Commons neighborhood, the property is proximate to the junction between interstates 90 and 94. Milwaukee is within a 2-hour drive of the six-building property. According to Yardi Matrix data, the community features 28 two- and 66 three-bedroom units, ranging from 885 to 1,455 square feet. The six two-story structures span across 5 acres.

Minnesota Equity Fund works in states beyond Minnesota, including Wisconsin, in coordination with investor UnitedHealth Group and its Michigan-based partner, Cinnaire.

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About Minnesota Equity Fund

Minnesota Equity Fund (MEF) is a subsidiary of Greater Minnesota Housing Fund (GMHF). MEF and Cinnaire are joint venture partners collaborating to achieve our common mission to create more high quality affordable housing.

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Our Joint Venture Team

Greater Minnesota Housing Fund

AERIS RATED AAA +2FHLB Des MoinesGMHF is AERIS-rated and a member of the Federal Home Loan Bank of Des Moines.

Staff Contact

John Errigo
Director of Syndication & Loan Officer
jerrigo@gmhf.com
651.350-7224

Warren W. Hanson
President & CEO, GMHF & MEF
whanson@gmhf.com
651.350-7220

General Contact

Minnesota Equity Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650-West
Saint Paul, MN 55101