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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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