CPP Acquires Woodside Terrace Affordable Housing Community in Beloit, Wisconsin, for $8M

by Kristin Harlow

BELOIT, WIS. — Community Preservation Partners (CPP) has acquired Woodside Terrace, an affordable housing community in Beloit, a city in southern Wisconsin. The development consists of 120 units, 116 of which are Section 8. The transaction marks CPP’s first investment in Wisconsin. The community will receive extensive renovations, estimated at $72,912.03 per unit. CPP’s total investment is roughly $27.4 million, which includes the purchase price of $8 million.

Built in 1972, the property consists of three buildings on three contiguous parcels. There are 90 one-bedroom units averaging 540 square feet and 30 two-bedroom units averaging 835 square feet. In addition to the individual unit upgrades, the community will receive a new playground, gazebo, dog park, barbecue grills and bike racks. The property’s Section 8 contract was set to expire in 2030. With CPP’s acquisition and upgrades, the community will have renewed affordability status for 20 years.

Renovations are slated for completion in December 2025. Project partners include the Wisconsin Housing and Economic Development Authority, R4 Capital, general contractor Renu, Wisconsin Management Co. and architect C&S Engineering.

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