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Chicago & Midwest  + Midwest  + Finance  | 

Monarch Closes on LIHTC for Sheboygan, WI Adaptive Reuse

Monarch Private Capital (MPC) has closed on low-income housing tax credit equity (LIHTC) for Badger State Lofts, a $28-million mixed-use residential development in Sheboygan. MPC has partnered with Indiana-based KCG Companies to develop the project, which is targeted for completion in spring 2020.

Badger State Lofts is the conversion of a 130-year-old tannery complex into a mixed-use and mixed-income residential community. The project is a focal point in the effort to revitalize the southern portion of downtown Sheboygan, and will serve as a foundation for the establishment of an 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 Atlanta-based 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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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