A lack of funding has delayed a Madison-based firm from making improvements at two low-income apartment buildings in Suring.
Chris Geiger, a representative of Astar Capital Management Inc., spoke to the Suring Village Board on Jan. 13 about renovations needed at Pioneer Villa and Manor Drive apartments. Overall building deterioration has been a problem for several years at Pioneer Villa, built in the early 1970s at 415 N. Mill St.
Because there were no reserve funds that came with the transfer of ownership of the apartments, Astar Capital Management is writing grant requests and seeking loans for the updates. The company seeks to obtain $342,000 for deferred maintenance left by the previous management company, Geiger said.
The first projects will include a new roof for Pioneer Villa and new windows. As soon as weather permits and the funds are obtained, the projects will begin, Geiger said.
The projects will be followed by updates to electrical service, kitchen cabinets and the building’s entrance and lobby.
“We do nothing half-way,” Geiger said.
The goal is to “preserve the units,” he said. Geiger said if these buildings are not preserved, 28 families will have no place to live.
“We plan to make it as accessible as possible,” he added.
The Manor Drive apartment building is in better shape than Pioneer Villa and requires only minor repairs, he said.
Suring trustees responded with excitement regarding the possibilities Geiger presented.
“We’re working together now,”village President Jay Tousey said.
Astar has a good track record, he added.
In 2014, Suring Non-Profit Housing Corporation transferred ownership of the apartments to Astar Capital Management of Madison. Horizon Management of La Crosse manages the properties.
Astar Capital Management is the employee base for Wisconsin Housing Preservation Corporation, whose mission is to preserve, provide and protect affordable housing for low- and moderate-income residents in Wisconsin.
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