Housing

Home Ownership Opportunities

Issue: Out of the 58 census tracts in Madison, Tenney-Lapham/Old MarketPlace Neighborhood ranks seventh in the number of non-owner-occupied housingunits. The neighborhood has 20% of its housing stock owner-occupied comparedwith 47% City-wide. The neighborhood believes there is an opportunityto increase owner-occupancy in the neighborhood due to 1) the number ofsingle-family and two-flats in rental status; 2) the substantial productionof new multi-unit rental apartment complexes near the UW campus; and 3)the consequent, gradual decrease in the number of UW students choosing tolive in the neighborhood.

GOAL RECOMMENDATION IMPLEMENTATION
Goal 7: Increase the level of owner occupancy within the neighborhood,with the aim of approaching the City of Madison average.
Home Ownership Opportunities for Single-Family and Two-Family Rental Properties
1. Target the purchase of single-family and two-units for owner-occupancy,especially properties that are in rental status, using existing or modifiedhome loan programs to help in the purchase as well as the rehabilitationof the properties. Within the Tenney-Lapham and Old Market Place Neighborhoods,29% (182) of the single-family units and 82% (412) of the two-units arein rental status. Increasing home ownership will lead to better maintainedproperties and a higher quality, improved living situation for renters. CDA, CDBG, CED Unit, WHEDA, MG&E, and other housing organizations
2. Notify absentee property owners that Tenney-Lapham and Old Market PlaceNeighborhoods are aggressively promoting owner-occupancy. Property ownerswill be urged to notify the neighborhood associations first, if their propertywill be for sale. TLOMP Neighborhood Associations
Increase Owner-Occupancy in the Lapham Elementary School Area
3. The Joint Tenney-Lapham/Old Market Place Neighborhood Housing Committeewill identify and prioritize target areas to concentrate owner-occupancyinitiatives. It is the objective of the neighborhood to identify geographicalareas to promote owner-occupancy and then to work with area housing organizationsand realtors to promote the area for potential home buyers.
TLOMP Neighborhood Associations

4. As part of the effort to increase owner-occupancy in portions of theneighborhood, target the two to three block area surrounding Lapham ElementarySchool to promote owner occupancy of single-family and two-family housingunits. The area surrounding Lapham Elementary School is the first targetarea to promote home ownership because of the favorable ratio of absenteeproperty owners: 44 (37%) of the single-family homes within the firstblock radius and 30 (61%) of the two-units are in absentee ownership; andthe average selling price of a single-family home ($84,000) and two-familyhome ($85,000) is in the price range for first-time home buyers. CDA, CDBG, CED Unit, WHEDA, MG&E, and area housing organizations
5. Review land use patterns, existing zoning classifications, and financingprograms to determine the most appropriate measures to preserve the single-familycharacter within the Lapham Elementary School area. Planning Unit

Goal 8: Inform potential home-buyers of various financing programsavailable under local, state and federal housing programs.

Introduction
Summary of Neighborhood Issues
Summary of Recommendations
Neighborhood Boundaries
Neighborhood Profile
Relationship to the Isthmus Neighborhoods / Census Information
Community Services Recommendations
East Johnson Business District Recommendations
Housing Recommendations
Parks and Open Space Recommendations
Redevelopment Recommendations
Sidewalks, Streets, Terrace and Other Public Infrastructure Recommendations
Transportation Recommendations

Maps

Original Plat for Tenney Park
Neighborhood Asset Map
East Johnson Business District
Historic Districts and Landmarks
Tenney-Lapham / Old Market Place Neighborhood Zoning Map
Residential Structures Map

Home Ownership Opportunities
Issue: Out of the 58 census tracts in Madison, Tenney-Lapham/Old MarketPlace Neighborhood ranks seventh in the number of non-owner-occupied housingunits. The neighborhood has 20% of its housing stock owner-occupied comparedwith 47% City-wide. The neighborhood believes there is an opportunityto increase owner-occupancy in the neighborhood due to 1) the number ofsingle-family and two-flats in rental status; 2) the substantial productionof new multi-unit rental apartment complexes near the UW campus; and 3)the consequent, gradual decrease in the number of UW students choosing tolive in the neighborhood.
GOAL	RECOMMENDATION	IMPLEMENTATION
Goal 7: Increase the level of owner occupancy within the neighborhood,with the aim of approaching the City of Madison average.	Home Ownership Opportunities for Single-Family and Two-Family Rental Properties
	1. Target the purchase of single-family and two-units for owner-occupancy,especially properties that are in rental status, using existing or modifiedhome loan programs to help in the purchase as well as the rehabilitationof the properties. Within the Tenney-Lapham and Old Market Place Neighborhoods,29% (182) of the single-family units and 82% (412) of the two-units arein rental status. Increasing home ownership will lead to better maintainedproperties and a higher quality, improved living situation for renters.	CDA, CDBG, CED Unit, WHEDA, MG&E, and other housing organizations
	2. Notify absentee property owners that Tenney-Lapham and Old Market PlaceNeighborhoods are aggressively promoting owner-occupancy. Property ownerswill be urged to notify the neighborhood associations first, if their propertywill be for sale.	TLOMP Neighborhood Associations
	Increase Owner-Occupancy in the Lapham Elementary School Area
	3. The Joint Tenney-Lapham/Old Market Place Neighborhood Housing Committeewill identify and prioritize target areas to concentrate owner-occupancyinitiatives. It is the objective of the neighborhood to identify geographicalareas to promote owner-occupancy and then to work with area housing organizationsand realtors to promote the area for potential home buyers.	TLOMP Neighborhood Associations
	4. As part of the effort to increase owner-occupancy in portions of theneighborhood, target the two to three block area surrounding Lapham ElementarySchool to promote owner occupancy of single-family and two-family housingunits. The area surrounding Lapham Elementary School is the first targetarea to promote home ownership because of the favorable ratio of absenteeproperty owners: 44 (37%) of the single-family homes within the firstblock radius and 30 (61%) of the two-units are in absentee ownership; andthe average selling price of a single-family home ($84,000) and two-familyhome ($85,000) is in the price range for first-time home buyers.	CDA, CDBG, CED Unit, WHEDA, MG&E, and area housing organizations
	5. Review land use patterns, existing zoning classifications, and financingprograms to determine the most appropriate measures to preserve the single-familycharacter within the Lapham Elementary School area.	Planning Unit