{"id":1004088111,"date":"2013-12-09T10:06:14","date_gmt":"2013-12-09T18:06:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=224091"},"modified":"2020-05-17T23:12:12","modified_gmt":"2020-05-18T07:12:12","slug":"msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\/","title":{"rendered":"MSP, Partners Cinch $7M in Federal Tax Credits for Waukesha M-F Project"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br 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5.4pt;\nmso-para-margin-top:0cm;\nmso-para-margin-right:0cm;\nmso-para-margin-bottom:10.0pt;\nmso-para-margin-left:0cm;\nline-height:115%;\nmso-pagination:widow-orphan;\nfont-size:11.0pt;\nfont-family:\"Calibri\",\"sans-serif\";\nmso-ascii-font-family:Calibri;\nmso-ascii-theme-font:minor-latin;\nmso-hansi-font-family:Calibri;\nmso-hansi-theme-font:minor-latin;\nmso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/Downtown-Waukesha.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-224092\" title=\"Downtown Waukesha\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/Downtown-Waukesha.jpg\" alt=\"\" width=\"300\" height=\"233\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"> Eight months after the Wisconsin Housing and Economic Development Authority awarded $7.2 million worth of federal tax credits for a mixed-income multi-family complex in Waukesha, the project\u2019s development team has closed on the credits. <\/span><\/p>\n<p><em style=\"mso-bidi-font-style: normal;\">According to <a href=\"https:\/\/www.biztimes.com\/article\/20131204\/ENEWSLETTERS06\/131209931\/-1\/Real_Estate\" rel=\"nofollow\" >BizTimes<\/a><\/em>, U.S. Bank, MSP Real Estate, Inc. and nonprofit Movin\u2019 Out obtained low-income housing tax credits to finance Meadow Ridge Apartments, a $10.9 million mixed-income apartment complex. The new development will be part of the MSP\u2019s Heritage Court Waukesha community, which currently features 36 memory care units.<\/p>\n<p>Upon completion next summer, Meadow Ridge will offer 70 one-, two- and three-bedroom apartments, 61 of them designated as affordable. Six units will be designed for individuals with disabilities.<\/p>\n<p>\u201cThis is the most underserved market in the state and MSP and our partners, Movin\u2019 Out, U.S. Bank and WHEDA, are committed to developing integrated housing for individuals with disabilities, as well as those of all income levels now and in the future,\u201d Jacob Klein, vice president of MSP Development, told the newspaper.<\/p>\n<p>In other multifamily development news, <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.bizjournals.com\/milwaukee\/blog\/real_estate\/2013\/12\/gorman-planning-56-apartments-near.html\" rel=\"nofollow\">The Business Journal<\/a><\/em> reports that Gorman &amp; Co. Inc. is planning the construction of a 56-unit apartment building in downtown Waukesha.<\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Slated to rise on a 2.3-acre parcel on East Main Street, the $10 million project will provide mostly affordable residences, along with 14 market-rate units and 14 units set aside for veterans. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Gorman will seek to obtain $850,000 in affordable housing tax credits from the WHEDA in early 2014 and expects to begin construction in about a year. Waukesha\u2019s Plan Commission is scheduled to review the project on Dec. 11. <\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: Wikimedia Commons <\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meadow Ridge Apartments, a mixed-income apartment complex is currently under construction in Waukesha. According to BizTimes, U.S. Bank, MSP Real Estate, Inc. and nonprofit Movin&rsquo; Out have obtained $7.2 million in federal Low-Income Housing Tax Credit equity to finance the $10.9 million project. The grant was awarded by the Wisconsin Housing and Economic Development Authority (WHEDA) in April.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004088111","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MSP, Partners Cinch $7M in Federal Tax Credits for Waukesha M-F Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MSP, Partners Cinch $7M in Federal Tax Credits for Waukesha M-F Project\" \/>\n<meta property=\"og:description\" content=\"Meadow Ridge Apartments, a mixed-income apartment complex is currently under construction in Waukesha. According to BizTimes, U.S. Bank, MSP Real Estate, Inc. and nonprofit Movin&rsquo; Out have obtained $7.2 million in federal Low-Income Housing Tax Credit equity to finance the $10.9 million project. The grant was awarded by the Wisconsin Housing and Economic Development Authority (WHEDA) in April.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-12-09T18:06:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T07:12:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/12\/Downtown-Waukesha.jpg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b82b91678533ae5d40e3240086a42bb\"},\"headline\":\"MSP, Partners Cinch $7M in Federal Tax Credits for Waukesha M-F Project\",\"datePublished\":\"2013-12-09T18:06:14+00:00\",\"dateModified\":\"2020-05-18T07:12:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/\"},\"wordCount\":276,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/12\\\/Downtown-Waukesha.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/msp-partners-cinch-7m-in-federal-tax-credits-for-waukesha-m-f-project\\\/\",\"name\":\"MSP, Partners Cinch $7M in Federal Tax Credits for Waukesha M-F Project - 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