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One Penny Place, Woodruff, WI


One Penny Place, Woodruff, WI (one of the prime tourist areas in Wisconsin), is in Oneida County and adjacent to Vilas County with a combined population of 57,809. It is located on a campus-style setting with the Howard Young Medical Center (HYMC) (a regional medical center), Dr. Kate Convalescent Center, Dr. Kate Home Health Agency, and Wood Court Apartments (a 20-unit HUD 202 independent elderly development); they are all part of the Howard Young Health Care system.

Location of Woodruff, WI One Penny Place, Woodruff, WI

One Penny Place is a 51-unit T-shaped apartment building with 35% common area space. Amenities are as follows:

Building Amenities

  • 24-hour locked, secure entry
  • Porte-cochere
  • Elevator
  • 21 underground parking spaces
  • Kitchen
  • Community and dining room
  • Sunrooms in each wing on each floor (9 total)
  • Exercise room with equipment and whirlpool bath
  • Library
  • Computer area with Internet service
  • Two private dining rooms
  • Medical consulting room
  • Beauty/barber shop
  • Guest apartment unit for overnight rental

Unit Amenities

  • Patios/balconies
  • Kitchen with full- size range/oven, microwave, dishwasher, garbage disposal, and full-size refrigerator
  • Walk-in shower with bench, sink with vanity
  • Lifeline phone system; tenant wears a pendant
  • Individually controlled hot water heat
  • TV cable hookups
  • Sleeve unit air conditioning
  • Window and door blinds

Occupancy Information

One Penny Place opened in October 2001 and was fully occupied within 6 months. In September, 2002, it was changed from 100% assisted living to about 35% assisted living. Initially, residents moved into the apartments because they were so attractive. They were reluctant to take services, but liked the assurance that they were available. Furthermore, the owner/manager was not aware that it could give preference to perspective tenants who had special needs. In order to protect the owner from legal issues, many units were determined to be only for independent living. Under WI regulations, independent living and assisted living are allowed under the same roof. Specific units do not have to be assigned as one or the other; they may float. Clarification of Fair Housing laws has helped in future marketing efforts.

Currently, 16 residents take assisted living services; two of them use the MA-waiver to pay for services. There are two vacant units as of June 2004; applications are pending for these units. There is one couple and the rest are one-person households. Four residents (independent living) use Section 8 vouchers to help pay for rent. Forty of the residents have lived at One Penny Place for at least one year

Apartment-type & mix, square footage, and rent structure

Unit type CMI* set aside No. units Size SF Rent/ Mo.
(rent, heat, water & sewer;
tenant pays elec.)
1 BR 50% 7 650-702 $425-454
1 BR 60% 10 702 $453-487
1 BR 60% 10 702-741 $495-536
1 BR 60% 4 823 $520-556
2 BR 30% 1 741 $275-325
2 BR 40% 4 741 $385-400
2 BR 50% 6 741 $385-400
2 BR 60% 1 741 $550-597
2 BR 60% 8 910 $595-644
TOTAL   51    
*Represents the maximum rent allowed for 50% CMI


CMI* 1-person 2-person 1-br max. rent 2-br max. rent
30% $11,100 $12,690 $297 $357
40% $14,800 $16,920 $396 $476
50% $18,500 $21,150 $495 $595
60% $22,200 $25,380 $594 $715

As of June 2004:

Age Number of
55-60 3
71-75 3
76-80 5
81-85 19
86-90 9
90+ 9
Income Number of
(none in assisted living units)
$11,000-15,000 18
$16,000-20,000 20
$21,000-23,220 3

Service Delivery

Services in a tax credit development must be optional unless included in rent. Tenants must also have the option to contract with other area service providers. The owner/manager helps residents qualify for Medicaid-waiver funding. Services are offered ala carte. At this time, charges for services cover the costs plus some additional income.

Meals (lunch and dinner) per day are offered at a charge of $4.50 per meal scheduled and $5.50 for unscheduled. Meals are prepared at HYMC and delivered to One Penny Place, which has a kitchen designed to warm the food; the meals are served in a large dining room, which also serves as a community room.

Supportive Services:
- Housekeeping, laundry, transportation, beauty shop on site, activities/recreation

Personal Care and Nursing Services:
Northwoods Senior Housing LLC contracts with Dr. Kate’s Convalescent Center to deliver personal care and nursing services to the assisted living residents. Its nursing staff also provides unscheduled care (within 3 minutes of the apartments) at night. Emergency services are provided by 911 and the adjacent emergency medical hospital.

Services Contracted

As of June, 2004
Service Number of Residents
Noon meal 14
Evening meal 14
Medication administration 9
Medication Management 9
Personal Care worker 11
Laundry/Housekeeping 19
Transportation 11


Northwoods Senior Housing, LLC, is the ownership entity. The managing member, which owns 0.1% of the development, is composed of Dr. Kate Newcomb Convalescent Center, Inc. and SunStarr Housing Partners, LLC. Credits were sold to the Richmond Group/Fannie Mae (investors) for the balance of the ownership. Northwoods Senior Housing LLC received a housing tax credits in the amount of $409,931; they were sold for $0.825 per dollar of credit.


Use of Funds:   Cost/Unit
Land costs: $55,000 $1,078
Construction costs: $4,046,968 $79,352
Soft costs: $1,135,257 $22,260

TOTAL: $5,237,225 $102,200
Source of Funds:   % of total
Equity from tax credits: $3,382,225 64.6
First Mortgage:
5.57%, 30 am./30 term
$1,300,000 24.8
HOME Funds:
3%, 27 am./27 term
$220,000 4.2
Owner HOME cash match: $55,000 1.1
0%, 15 am./30 term
(deferred for first 15 yrs.)
$255,000 4.9
WHEDA grant: $25,000 0.5

TOTAL: $5,237,225 100.0

Photos of One Penny Place (click on a thumbnail for a full-sized image)







Dining Room

Main Kitchen

Beauty Shop





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Created by the WI Department of Health and Family Services and the WI Housing and Economic Development Authority in partnership with NCB Development Corporation's Coming Home Program, a national program of the Robert Wood Johnson Foundation