Loft living adapted for seniors housing market
LONDON: A developer has converted an historic building into loft living for the seniors housing market.
The Riverside Tower Lofts on West Second Street had a grand opening last week. The space was once the site of the Old Tack Factory and had sat vacant for several years. It has now been renovated and converted into affordable housing for seniors.
Residents began moving into the apartments in late 2020. The project to renovate began in 2018.
“If you were here in 2018 — or even earlier than that — you would’ve seen boarded-up windows, broken siding and even bricks falling out,” said Nicole Schell, director of planning for the City of Madison. “Now, you can see a completely different transformation.”
The project received funding from Indiana Housing and Community Development Authority through the Stellar Community Housing Tax Credits, City of Madison and the City of Madison Redevelopment Commission.
The Loft provides 42 one-bedroom units and eight two-bedroom units for seniors. There is a courtyard, on-site parking and a community room.
“Mayor Courtney’s saying is: ‘Clean, Safe, and Beautiful,’ and this project just encompasses all of that,” Schell said.
There are still a few rooms left, but Schell said the building is also at full capacity.
