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Monarch Private Capital Finances New Affordable Housing Development in Wisconsin

ATLANTA–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/ESG?src=hash" target="_blank"gt;#ESGlt;/agt;–Monarch
Private Capital
(MPC), a nationally recognized tax-advantaged
investment firm that develops, finances, and manages a diversified
portfolio of projects that generate federal and state tax credits, is
pleased to announce the financial closing of low-income housing tax
credit equity (LIHTC) for a 28 million-dollar mixed-use residential
development called Badger
State Lofts
. MPC has partnered with Indiana-based KCG
Companies
to develop the project, which expects to be placed in
service in the spring of 2020.


Badger
State Lofts
is the conversion of a historic tannery complex into a
mixed-use and mixed-income residential community in downtown Sheboygan,
Wisconsin. Once completed, the project will provide 149 apartment units,
interior garage and surface parking, 9,000 square feet of commercial
space and expansive community and amenity areas. The units will have a
“loft” style aesthetic in an effort to maintain the historic feel of the
building’s previous uses throughout its 130-year history.

The project is a focal point in the effort to revitalize the southern
portion of downtown Sheboygan and will serve as the foundation for
future development and implementation of the master plan for Sheboygan
Economic Development Corporation’s thriving live-work-play Innovation
District.

“Our investment in Badger State Lofts is another illustration of the
benefits of the LIHTC program,” said Brent
Barringer
, Managing Director of LIHTC for MPC. “We appreciate the
collaboration with KCG Companies, and in particular, the leadership of Matthew
Gilhooly
, for delivering superior affordable housing that will
positively impact the Sheboygan community.”

“KCG was formed with a single purpose,” said KCG’s
President RJ Pasquesi
, “to build vibrant communities that offer all
residents an enhanced quality of life and a proud place to call home. We
strive to advance and redefine the standards for superior-quality
sustainable communities and feel that Badger State Lofts has more than
accomplished this goal. As the Innovation District grows, KCG will take
pride knowing that this development is acting as a foundational catalyst
to facilitate innovation, entrepreneurship, employment and education in
the community.

For more information on MPC’s programs and services, please contact
Brent Barringer by emailing [email protected]
or calling (334) 663-4523. For more information on Badger State Lofts,
please contact Matthew Gilhooly by emailing [email protected]
or call (317) 708-6519.

About Monarch Private Capital

Monarch Private Capital positively impacts communities by investing in
tax credit supported industries. The company is a nationally recognized
tax equity investor providing innovative capital solutions for
affordable housing, historic rehabilitations, renewable energy, film,
and other qualified projects. Monarch has long term relationships with
institutional and individual investors, developers, and lenders that
participate in these types of federal and state programs. Headquartered
in Atlanta, Monarch has offices and tax credit professionals located
throughout the U.S.

Contacts

Jane Rafeedie
Monarch Private Capital
[email protected]
470-283-8431

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