Elven Sted is a true success story which provides affordable, good quality housing that welcomes a range of households, including:
- Stoughton’s workforce
- People with disabilities
Some units are built to the highest standards of accessibility. The site is graded to optimize walker and wheelchair use. Anyone can visit the Elven Sted apartments, including people who use mobility devices.
Apartment rents are set to be affordable for working households. Household income cannot exceed 60% county median income. The project includes 33 units of new multi-family housing consisting of 4 one bedroom, 17 two-bedroom and 12 three-bedroom units located on a 2.5 acre site at 623 Eight Street in Stoughton.
Elven Sted was financed using a combination of development financing including affordable housing tax credits, permanent debt and a combination of soft money including City of Stoughton TIF funds and HOME funds. The intent was to finance a high quality, very affordable multifamily housing community enhanced by state-of-the-art technology, best management building practices and ongoing operations.
The grounds feature community vegetable gardens in raised beds and a rain garden with plant species that will mitigate storm water runoff into river and add beauty to the landscape.
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