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Three Mixed Use Case StudiesMixed Income Multifamily with Retail
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– 25 years of experience creating workforce and affordable housing; Reputation is impeccable;
– 23 years working with the Low Income Housing Tax Credit;
– 145 people with a wide variety of affordable housing experiences;
– Problem Solvers – MO of partnering with the local community and solving community challenges they have identified;
– Nationally recognized for innovative financial structures to create affordable housing.
Gorman & Company
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LIHTC Housing Product Trends
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Suburban – Greenfield Development
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For Sale Division – Crosswinds
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“Rolling Prairie” Apartments
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Adaptive Reuse, in or near Downtowns
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Mixed Use, Mixed Income
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Mixed Use Case Study #1
• Kunzelmann Esser Live‐Work Artists Lofts
• 69 “Live‐work” Lofts Targeted to Artists
• 11,000 Square Feet of Retail
• Retail “Master Leased” by Developer
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Kunzelmann Esser Retail
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Mixed Use Case Study #2
• Park East Enterprise Live‐Work Lofts
• 85 “Live‐work” Lofts targeted Entrepreneurs
• 3,000 Square Feet of Retail
• Retail “Master Leased” by Developer, but Much Lower Financial Exposure
• Residential of 1st Floor, but Activated Street Other Ways
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Park East Enterprise, Live‐Work Lofts
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Park East Enterprise, Live‐Work Lofts
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Park East Enterprise, Live‐Work Lofts
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Park East Enterprise, Live‐Work Lofts
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Park East Enterprise, Live‐Work Lofts
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Park East – Milwaukee
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Park East – Milwaukee
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Park East – Milwaukee
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Park East – Milwaukee
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Park East – Milwaukee
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Live Work Example – Fashion Designer
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Live Work Example – Fashion Designer
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Norquist – Milwaukee Example
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Mixed Use Case Study #3
• State at Main, Downtown Racine, WI
• 85 Mixed Income Rental Apartments
• 24 Top Floor Condos
• 19,000 Square Feet of “Class A” Retail
• Retail Sold as Condo to SC Johnson
• City Parking Structure Below
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Norquist – Milwaukee Example
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Market Rate Rental Apartments
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Affordable Rental Apartments
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Top Floor Condominiums
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Condominiums Temporarily in “Shadow” Rental Market
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Common Amenities Shared by All Residents
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Common Amenities Shared by All Residents
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Common Amenities Shared by All Residents
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Common Amenities Shared by All Residents
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Common Amenities Shared by All Residents
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Retail Component Separated Off in Retail Condominium
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Three Mixed Use Case StudiesMixed Income Multifamily with Retail
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Wisconsin Development – La Crosse Transit Center
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Wisconsin Development – La Crosse Transit Center
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Wisconsin Development – La Crosse Transit Center