× Expand Liam Beran The new student housing building above the old Lake Street parki The new student housing building above the old Lake Street parking garage will have approximately 100 reduced-rent beds. City and UW-Madison officials want to make it easier for low-income students to find cheaper housing options. In exchange, developers building student housing are expected to commit a negotiated amount of affordable beds for low-income applicants. Under the proposal, the city could ask for affordable student housing units in exchange for additional stories or as a standalone tool in negotiations with developers. UW-Madison’s Office of Student Financial Aid would proactively identify low-income students and inform them that they’re eligible for reduced rent.