MADISON, WIS. — CPC Mortgage Co., a subsidiary of The Community Preservation Corp., has provided a $16.4 million Freddie Mac Targeted Affordable Housing (TAH) forward commitment for the permeant financing of Taking Shape B1, the first phase of Taking Shape, Our Triangle, a redevelopment project in Madison’s Triangle neighborhood. Developed through a partnership between the Community Development Authority of the City of Madison (CDA) and New Year Investments, Taking Shape B1 will provide 164 affordable housing units at 755 Braxton Place. The project is part of a multi-phase plan to reimagine and revitalize the Brittingham Apartments, Gay Braxton Apartments, Karabis Apartments and Parkside Highrise and Townhomes — collectively known as the CDA Triangle Sites. Key partners in the financing and development of Taking Shape B1 include the Wisconsin Housing and Economic Development Authority, serving as the tax-exempt bond issuer; U.S. Bank, acting as the construction lender; National Equity Fund, the project’s low-income housing tax credit syndicator; and Baker Tilly, providing expertise as the project’s consultant. The 10-acre site is shared with the Bayview Foundation and two medical buildings. All of the units will be designated as affordable for households earning at or below 60 percent of the area median income. …
MADISON, WIS. — CRG has broken ground on Chapter Mifflin, a six-story, 516-bed student housing community in Madison’s Mifflin District adjacent to the University of Wisconsin-Madison. CRG assembled a 1.5-acre site of 12 contiguous parcels along West Washington Avenue and West Mifflin Street for the project and rezoned them for higher-density residential. Chapter Mifflin will offer 162 fully furnished units. Completion is slated for the 2027-28 academic year, with preleasing expected to commence in summer 2026. Currently home to a mix of single-family residences and duplexes operating as student housing, the project site is a half mile from the Memorial Library and four blocks from the retail and entertainment offerings along the State Street corridor. Chapter Mifflin will offer a range of studio through five-bedroom units. Amenities will include a fitness center, study areas, outdoor courtyards, a fifth-floor terrace and secure parking garage. Lamar Johnson Collaborative, a subsidiary of CRG’s parent company Clayco, designed the project, which will feature a public pedestrian connection. Wisconsin-based CG Schmidt will serve as general contractor. CRG worked with Alder Mike Verveer; Madison’s Department of Planning, Community & Economic Development; Capitol Neighborhoods Inc.; and other local stakeholders on the project.
MILWAUKEE — The Annex Group has broken ground on Union at Rose Park, a $25.8 million affordable housing community in Milwaukee. The property will offer 75 one-, two- and three-bedroom units for households earning a range of income levels starting at 30 percent of the area median income to market rate. Nine units will be targeted to veterans. Amenities will include a community room, fitness center and business center. The development will include rooftop solar panels and is designed to meet Enterprise Green Community Standards. Project partners include Ware Malcomb, raSmith, Integrity Structural Corp., Latimer Sommers & Associates, Terracon, Heartland Energy Consultants, Baker Tilly, ACC Management Group and Impact Housing Indiana, an organization dedicated to supporting residents of affordable housing communities within Annex’s portfolio. Impact Housing Indiana will have a dedicated onsite space within Union at Rose Park. Advantage Capital provided more than $9 million in federal equity and just under $3 million in state credit equity for the project. The Wisconsin Housing and Economic Development Authority allocated 4 percent tax credits, approximately $13.5 million in tax-exempt bonds and both a $1 million Vacancy-to-Vitality loan and a $125,000 Infrastructure Access Funding loan. Cedar Rapids Bank & Trust served as construction …
KENOSHA, WIS. — McShane Construction Co. will build a 174,367-square-foot manufacturing build-to-suit project in Kenosha. The undisclosed tenant will utilize the space for manufacturing and warehousing metal products. Positioned on an 86-acre site, the precast building will include 77,100 square feet of manufacturing space and 52,500 square feet of warehouse space with a clear height of 40 feet, 10 truck docks and four drive-in doors. The building will also feature 9,000 square feet of office space and 171 parking stalls. As part of the project, McShane will build a bridge, bringing railroad tracks to the site. Completion is slated for June 2026. Harris Architects Inc. is the project architect.
WAUKESHA, WIS. — Associated Bank has provided a $6.5 million loan for the acquisition of Ridgeview Industrial Center IV in Waukesha. The 89,405-square-foot building, constructed in 2003 and remodeled in 2023, is fully leased to two tenants. The property is located just off the intersection of I-94 and Redford Boulevard, with logistics access to I-41 and I-43. The borrower, Capital Partners, currently manages 16.2 million square feet of industrial properties. Randy Stille of Associated Bank handled the loan arrangements and closing.
MADISON, WIS. — Marcus & Millichap has arranged the sale of Whitney Point Apartments in Madison for an undisclosed price. The property features 48 multifamily units and three retail suites. Located at 5414 Mineral Point Road on the city’s west side, the asset was built in 2020 as Phase I of a larger redevelopment plan. The site allows for a proposed Phase II that would add approximately 100 residential units and 8,250 square feet of retail space. Matthew Whiteside, Paul Rider and Don Schmidt of Marcus & Millichap represented the seller, Whitney Point Properties LLC, and procured the buyer, Whitney Point LLC.
ST. FRANCIS, WIS. — M&R Development has broken ground on a 278-unit luxury apartment complex on a bluff overlooking Lake Michigan in St. Francis, about five miles south of downtown Milwaukee. Named The Bluffs on Lake, the project will offer units ranging from studios to three bedrooms. M&R is co-developing the property with Campbell Capital Group LLC, the same firm it teamed with for the development of 42 Hundred on the Lake, a 236-unit luxury building just south of The Bluffs on Lake that opened in 2021. Located on a 21-acre site at 3700 S. Lake Drive, The Bluffs on Lake will comprise a four- and five-story building with one level of underground parking and 8,000 square feet of first-floor retail space, some of which is earmarked for a restaurant with outdoor seating. First deliveries are targeted for late 2026 with preleasing expected to start that fall. The project will feature a business center, meditation room, Zen Garden, self-service package room and two-level fitness center. A two-story clubhouse will include an entertainment lounge, coffee bar, media room, game room and pet spa. A main outdoor courtyard will comprise an infinity-edge pool, grilling stations and bocce ball court. A second courtyard …
DE PERE, WIS. — Associated Bank has provided a $12.8 million construction loan for a mixed-use redevelopment of 550 William Street in De Pere, just south of Green Bay. The project is on the site of a former Shopko store. Plans for the five-story development include 60 multifamily units and 7,900 square feet of commercial space on the first floor. The project is currently under construction, with completion slated for July 2026. The Shopko store closed six years ago. The project marks the first building of a multi-phase redevelopment plan, which includes a hotel, city-owned parking structure and another residential building. Tim Jorgensen of Associated Bank handled the loan arrangements and closing.
HAYWARD, WIS. — Greiner Construction has broken ground on The Lumber Exchange, a 10,000-square-foot coworking and gathering space at the corner of Main Street and Highway 63 in Hayward, a city in northwest Wisconsin. Designed to support local workers, entrepreneurs, creatives, nonprofits and community leaders in the area, the project replaces a commercial space that had been vacant for 15 years. The project site once hosted some of Hayward’s earliest landmarks, including the Pion Hotel, Giblin Hotel, Walker Hotel and the Hayward Building. The Lumber Exchange is expected to open in summer 2026. The Chequamegon Area Mountain Bike Association and the Sawyer County/Lac Courte Oreilles Economic Development Corp. have committed to long-term leases of office space within the building. The project will include flexible work areas, private offices, phone booths, conference rooms, event space, a coffee bar and second-level deck overlooking Main Street. The building will also host community programming, workshops and gatherings. The Lumber Exchange is the first commercial development for Carson Kipfer, whose background includes building companies in the technology arena for both the sports and insurance industries. Additional project team members include Cuningham and Spider Lake Trading.
APPLETON, WIS. — NAI Pfefferle has negotiated a 12,885-square-foot office lease at 4351 W. College Ave. in Appleton. The tenant, ipromoteu, is relocating and expanding. Adam Figurin, Amy Oelhafen and Elizabeth Ringgold of NAI Pfefferle negotiated the transaction.