CIBC has made a $45.5 million commitment through equity investment and construction lending to support the Thrive on King project, a historic adaptive reuse initiative that will transform a former department store building into 90 units of affordable housing in downtown Milwaukee.

“We are excited to be a part of the Thrive on King project, which will not only create much-needed affordable housing but also contribute to the preservation of Milwaukee’s rich history,” said Tony Hernandez, head of Community Investment at CIBC Bank USA. “CIBC is especially passionate about this project because it represents a significant investment in Milwaukee’s future, and we are proud to be a part of it,” said Hernandez.

The commercial space within Thrive on King will be anchored by the Greater Milwaukee Foundation and the Medical College of Wisconsin. The space will serve as a hub for a wide range of services, including food, health and wellness programs, art, culture, history, and community gatherings.

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