California-based Lincoln Avenue Communities, a low-income housing developer behind several Madison projects, secured a city permit this week for a five-story apartment building near the Verona Road and Beltline highway intersection, according to the Wisconsin State Journal.
The developer recently completed the nearby Derby Apartments and is currently building a large pair of apartment buildings on the east side’s former Oscar Mayer plant site.
The latest plans would replace two existing buildings at 4506 and 4514 Verona Road — a restaurant-turned-office building and auto repair facility, respectively — with 93 income-restricted housing units and 76 underground parking stalls. The project was approved by Madison’s Plan Commission on Monday…