National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

Beaver Dam Lake Historic Lofts

Beaver Dam Lake Historic Lofts

Historic & Preservation

When a shoe company closed its Beaver Dam, Wisconsin, factory in 2003 the community was forced to decide the fate of the four-story brick building built in 1893 as a cotton mill on a creek emptying into Beaver Dam Lake. With the help of $6 million of LIHTC equity invested by National Equity Fund®, the building is now a 34-unit affordable housing community called Beaver Dam Lake Historic Lofts. Homes are available to households earning between 50-60 percent of Area Median Income.

Preserving the history of the building, the 26 two- and eight three-bedroom apartments feature 14-foot ceilings, oversized windows, exposed brick walls and industrial ductwork, timber beams and round wood columns. The loft apartments incorporate a variety of modern conveniences, such as open kitchens with islands and snack bars, balconies on some units, Energy Star washers and dryers and individually controlled high-efficiency furnaces. Amenities include a community room with kitchenette, communal outdoor patio overlooking Beaver Dam Lake, fitness room, media center and hobby/craft room bringing residents together and completing the re-use of the building.

The development is a partnership between non-profit Impact Seven, which develops affordable housing using a variety of sources of federal funds, and Wisconsin Redevelopment, a two-member real estate development and consulting firm focusing on projects that use low-income and historic tax credits. 

Project Details

222 Madison Street
Beaver Dam, WI
Project Type
Historic Rehabilitation/Family
Total Units
Mix of Residences
26-2 br, 8-3 br
Limited Partnership
Beaver Dam Lake Historic Lofts, LLC
Tax Credit Equity
$6 million
Total Project Costs
$8.6 million
Impact Seven, Inc.
Wisconsin Redevelopment, LLC
Permanent Lenders
Community Development Bank
Impact 7, Inc.
Wisconsin Housing & Economic
Development Agency
2014 Charles L. Edson Tax
Credit Excellence Award Winner
Download Printable Project Sheet

Print Version

Download PDF

You need Adobe Acrobat Reader to view and print this Project Fact Sheet.

Download Project Sheet