March 21, 2019
Stone House Development is seeking Opportunity Zone investors for a new luxury apartment community located at 1050 East Washington Ave. in Madison, WI. One of the first developments in the state specifically designed to utilize opportunity zone incentives, the $54.7-million mixed-use project is located in Madison’s historic Tenney-Lapham neighborhood.
Like many developers, Stone House is eager to leverage Opportunity Zone investment. “The program is an incredible financing option for developers,” said Stone House president Helen Bradbury. “It will enable us to complete the revitalization of this key block of East Washington Avenue.”
Stone House engaged Baker Tilly, through its investment banking subsidiary Baker Tilly Capital, to help identify qualified opportunity zone investor capital for the project.
“The 1050 East Wash project is a great example of the potential that Opportunity Zones have to really shape communities and provide tangible benefit to investors,” said Michael Fitzpatrick, EVP of Baker Tilly Capital.
For comments, questions or concerns, please contact Paul Bubny