The need for affordable housing is being addressed in Algoma with the grand opening of a new apartment complex. A ribbon-cutting was held Tuesday to celebrate the occasion. Oct. 7, 2025. PC: Fox 11 Online
ALGOMA, WI (WTAQ-WLUK) — The need for affordable housing is being addressed in Algoma with the grand opening of a new apartment complex.
A ribbon-cutting was held Tuesday to celebrate the occasion. Algoma city staff members, community members and housing officials from Commonwealth Construction were all on hand for the event.
The opening of the Portside Lofts is the first of its kind in Algoma. The city hopes it’s a big step towards drawing in more people.
“This is a stepping stone, I will say, a huge one, a stepping stone for us… to bring the people in here and then hopefully bring some business in here and just to grow this community,” Algoma Mayor Steve Lautenbach said.
Lautenbach said the city needs to attract more working families. This low-income apartment complex helps address a growing problem and a critical need.
“The small towns of this state are sometimes overlooked, but they’re facing the same housing crisis that all the communities are across the state are realizing. Just that housing is too expensive. So, we’re trying to help bridge that gap, one project at a time,” Commonwealth Development Corporation Managing Vice President of Development Tyler Sheeran said.
Sheeran said the Portside Lofts were partially financed through the Low Income Housing Tax Credits from WHEDA, along with TIF money from the city.
The complex has one, two, three and four bedroom homes meant for families earning between 30-80% of the area’s median income.
A 701-square-foot one-bedroom one-bath home at Portside Lofts will run between $924 and $1,190 dollars a month. Meanwhile, a 1,566-square-foot four-bedroom two-bathroom unit costs between $1,424 and $1,685.
“Just being able to provide affordable housing to a community that currently doesn’t have these solutions is huge. And that’s evidence through the initial lease up,” Sheeran said.
Some amenities include a community room, exercise room and a parking garage.
Bringing to life a modern facility and keeping the cost of living low — even in one of Wisconsin’s smaller communities.
Comments