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National  + Wisconsin  + Finance  | 
Construction costs are up more than 7% year-over-year, according to both Turner Construction and Rider Levett Bucknall

Construction Lending Tightening Among Milwaukee Multifamily

Though apartment construction is increasing in and around Milwaukee, WI, finding financing to launch projects has been more difficult. Commercial banks are enforcing stricter guidelines, in light of overbuilding concerns.

Developers such as Stewart Wangard with Wauwatosa, WI-based Wangard Partners, said the trend is to be expected. “We’ve benefitted from extremely low interest rates, and while, as a borrower, we appreciate that, we also realize it was temporary,” Wangard told the Milwaukee Business Times.

John Stibal with the city of West Allis, WI, pointed out that banks will begin requiring developers to have a 70%-75% loan-to-value ratio instead of the standard 80%. Because returns might not be as high for investors, there could be an increase in requests for municipal assistance through TIFs. But Stibal said municipalities will likely be more selective, as well.

For comments, questions or concerns, please contact Amy Sorter


Inside The Story

Read More at Milwaukee Business TimesConnect with Wangard PartnersConnect with West Allis' Stibal

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Financing
  • ◦Development
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