Madison Area Community Land Trust (MACLT) is thrilled to announce the Roots & Wings Foundation has committed $125,000, and TruStage Foundation has committed $146,000 to support the development of the Townhomes at the Voit Property on Madison’s east side. The Townhomes at the Voit property will consist of 11 to 14 new attached townhomes that will provide opportunities for stable, quality, permanently-affordable homeownership that will multiply in impact over time.
“These gifts from our partners will allow MACLT to grow to the next level with our biggest development since 2006,” said Olivia Williams, MACLT Executive Director. “This investment will have a lasting impact, allowing families to put down roots and build their futures in a community they can call home.”
“Our goal is to make brighter financial futures accessible to everyone,” says TruStage Foundation Executive Director, Kate Austin Stanford. “A key component of making that dream a reality and pillar of the TruStage Foundation’s philanthropic efforts is housing. The project MACLT is undertaking will directly benefit those who may not have been able to afford a home and will keep those homes permanently affordable for generations to come within our community. We were thrilled to follow MACLT’s leadership and align ourselves with this cause.”
The current working design for the project at the Voit property includes 11 to 14 townhomes of three to four bedrooms in size, which will all be livable accessible on the first floor for people with disabilities. The final design and number of homes developed may vary depending on the total funding secured for the project. The land trust model keeps the homes permanently affordable, so the impact of these homes will grow each time the homes sell to a new qualified family.
On average, MACLT homes sell every 15 years, meaning that each home will serve on average two families after 15 years, three families after 30 years, and four families after 45 years. In this way, this development will have a long-term impact, affecting generation after generation of low-income buyers into the future. This significant investment by Roots & Wings Foundation and TruStage Foundation strengthens efforts to expand housing access through the Community Land Trust (CLT) model, ensuring that homes remain affordable for generations to come.
The Townhomes at the Voit Property will offer high-quality, energy-efficient homes that remain affordable in perpetuity. Half the homes will be affordable below 80% area median income (AMI) (a max income of $103,850 per year for a family of four), and half the homes will be affordable below 50% AMI (a max income of $64,900 per year for a family of four). Ongoing affordability will be protected by resale price restrictions embedded in a ground lease between the homeowners and MACLT, just like all affordable MACLT homes. As housing costs continue to rise, initiatives like this ensure that homeownership remains within reach for working families.
For more information and updates on the Voit Townhomes project, visit https://maclt.org/2025/02/05/townhomes-at-the-voit-property-on-madisons-east-side/ .
About Roots & Wings Foundation: Roots & Wings is a family foundation launched in 2020 by Judy and Gordon Faulkner. To help children grow strong from the roots up, we invest in four program areas: basic needs, early learning, safety & justice, and health. We fund nonprofit organizations that support low-income children and families in reaching their full potential. We prioritize preventive and in-depth programming that changes lives so that all children may thrive. For more information, visit https://rootswings.org/ .
About TruStage Foundation: The TruStage Foundation is a registered 501(c)(3) that serves as the philanthropic arm of TruStage. Efforts of the TruStage Foundation center on building equity in the communities where we live and serve. TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.