FOND DU LAC, WIS. — Associated Bank has provided a combined $17 million in debt and equity for the conversion of two former Catholic schools into 47 apartments in Fond du Lac. Located at 63 East Merrill Ave. and 95 E. Second St., Parish School Apartments will feature 17 three-bedroom units, 28 two-bedroom units and two one-bedroom units. Amenities will include a community room, exercise room and business center. Eleven apartments will be reserved for veterans and/or individuals at risk of long-term homelessness. Completion is slated for March 2018. Commonwealth Development Corp. is the developer of the project, targeted for low-income residents. Associated Bank will purchase the federal low-income housing tax credits and the federal and Wisconsin historic tax credits totaling $9 million through the National Equity Fund. Associated Bank will also provide the $7.4 million construction loan and Associated Community Development will pass through a $600,000 affordable housing program grant via the Federal Home Loan Bank of Chicago.
Parish School Apartments will feature a mix of one-, two- and three-bedroom units.
Associated Bank Provides $17M in Construction Financing for Apartment Conversion in Eastern Wisconsin
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