Green County Development Corporation Launches $2.8 Million Housing Development Fund to Boost Local Housing
Monroe, WI – Green County Development Corporation (GCDC) is excited to announce the launch of the Housing Development Fund, a groundbreaking initiative designed to address the county’s housing needs by incentivizing new residential development. Backed by $2.8 million in funding from six local partners, this program will provide low-interest loans to developers, encouraging the construction of new homes across Green County.
Fueled by the 2024 Housing Study conducted by Southwest Wisconsin Regional Planning Commission, and multiple community housing forums hosted by GCDC and Green County Healthy Community Coalition (GCHCC), efforts were targeted to bring affordable, single and multi-family homes to the county. The 2024 study indicated a need for over 1,700 homes to be built before 2030 to support growth in the area.
“The Housing Development Fund is a momentum builder designed to create a thriving, sustainable, and diverse housing market that supports workforce growth, enhances community well-being, and fosters long-term economic stability. By bridging funding gaps, engaging local developers and financial institutions, and promoting strategic housing investments, we are not just building homes—we are building a future that says Green County is a great place to grow, invest, and call home,” said Olivia Otte, Executive Director at GCDC. “This initiative is a testament to what we can achieve when we work together. It takes a strong, collaborative team to drive economic growth, and we are incredibly grateful for the dedication of our partners in making this vision a reality.”
The Housing Development Fund represents a unique collaboration between public and private stakeholders who recognized the urgent need for more residential options. With a matching funds pledge, the Colony Brands Foundation led the way for additional funders to commit to this program. Other supporters include Klondike Cheese, The Bank of New Glarus, Woodford State Bank, Lakeridge Bank, Green County Healthy Communities Coalition, and SSM Health. All have united in the efforts to make financing more accessible for developers ready to invest in Green County’s future.
Colony Brands Foundation President, John Baumann addressed their commitment to the project with this statement, “Strong communities take a long-term view in addressing the needs of their people and the schools, businesses and infrastructure they support. They understand the best interests of their people and businesses, and work hand in hand towards common goals. To support their families, people want to pursue viable careers and establish homes in neighborhoods near where they work. New housing development is crucial for addressing the growing demand for affordable and sustainable living options in Green County. The Housing Development Fund will provide sound gap financing for residential developers. The Colony Brands Foundation sees this program as a key incentive to drive smart growth across Green County. We are proud to support it.”
Through this initiative, GCDC aims to accelerate housing construction in Green County, providing opportunities for developers to build a variety of housing types, from single-family homes to multi-unit developments. This revolving loan fund will help alleviate financial barriers and promote sustainable growth in communities throughout the county.
Developers interested in learning more about the Housing Development Fund and how to apply for financing are encouraged to contact GCDC at 608-328-9452 or email Olivia Otte at [email protected]
About Green County Development Corporation
The mission of Green County Development Corporation (GCDC) is to catalyze economic growth while enhancing the quality of life in Green County, Wisconsin, WI. By working with local businesses, government entities, and community stakeholders, GCDC promotes initiatives that support a strong and sustainable local economy.
For more information on the housing studies reference in the article, visit https://greencountydevelopment.com/live-work/#education