With statewide housing inventory levels at historic lows and median home prices continuing to rise, Wisconsin has a serious workforce housing shortage. Fortunately, Gov. Tony Evers recently signed into law a bipartisan package of bills intended to increase workforce housing in Wisconsin. 

This slate of bills will provide new financing tools to fund infrastructure investments, rehabilitate and repair older housing stock, convert units above main streets and vacant commercial buildings into available workforce housing, and limit the ability of “not in my backyard” (NIMBY) opponents to influence the development-approval process.

Legislation in play

• AB 264/SB 293: Provides infrastructure revolving loans for streets, sewer, water and more to service new residential development
• AB 265/SB 294: Offers main street housing rehabilitation revolving loans to repair and rehabilitate residential rental housing above existing buildings with a commercial use on the main floor. 
• AB 266/SB 296: Executes a judicial review of local government decisions to increase certainty and predictability in the development-approval process.
• AB 267/SB 297: Implements a Wisconsin Housing and Economic Development Authority (WHEDA) program to fund low-interest loans for the rehabilitation of certain residential properties created under 2021 Wis. Act 221.
• AB 268/SB 295: Provides vacant commercial-to-housing conversion revolving loans to fund the redevelopment of commercial buildings into new residential workforce housing.

Legislation status

Gov. Evers signed all five of these legislative priorities into law last month. Watch for more details in future editions of Wisconsin Real Estate Magazine.