River Oaks Apartments
Multifamily Independent Living
River Oaks is a multifamily affordable development comprised of 48 family units housed within six townhouse-style buildings and one ranch-style duplex. The property has its own entrance driveway and includes an open park-like green space with a well-maintained children’s playground. In addition, River Oaks is located near a thriving business district with retail, restaurants, pharmacy, and world-class medical care.
The property was developed as subsidized housing in 1981 through a U.S. Housing and Urban Development (HUD) rent subsidy assistance program with a Section 8 Housing Assistance Payment (HAP) contract. Rents at River Oaks are targeted towards individuals and families that earn 30% of the area median income for La Crosse County.
Five of the eight family townhouse buildings feature first- and second-floor two-bedroom apartments. All apartments have their own private front door entrances including staircases to the upper-level units. Units each have an exterior-accessed storage room adjacent to the entryway.
The Capital Magnet Fund (CMF) program, a federal government grant, has been instrumental in helping WHPC to finance, develop and rehab properties in its portfolio. River Oaks qualified for CMF because all its units are rented to extremely low-income households living in a densely populated urban area. Of WHPC’s 2020 CMF grant, $200,000 was utilized to renovate all the units at River Oaks.
Every unit at River Oaks was professionally renovated using sustainable, high-quality products and materials. Improving the energy and water efficiency in properties is essential to keeping operating expenses in control. WHPC is developing green initiatives to decarbonize its portfolio. Switching from natural gas to electric water heaters, installing energy-efficient appliances and lighting, and using sustainable materials will help keep properties like River Oaks affordable for residents.