Originally built in 1980 with USDA Rural Development financing, Impact Seven stepped in when the subsidy period had ended and the owners had permission from USDA to sell the properties as market rate housing. Working with seven separate funding sources and agencies, Impact Seven assembled a package to acquire the property, catch up on overdue maintenance and make other upgrades to improve resident satisfaction, lower operating costs and assure long term marketability. Impact Seven’s efforts preserved the property as affordable for low-income families earning at or below 50% of the Area Median Income (AMI). All residents also benefit from HUD project-based rental assistance, which means residents pay 30% of their household income toward rent.

The renovations included completely remodeled kitchens and bathrooms, as well as energy efficiency improvements such as new windows, air conditioning units, hot water heaters, Energy Star rated appliances and lighting. In addition, the 20 units on the first floor were modified to be either accessible or meet visitability standards for persons with disabilities. Rehabilitation commenced in October 2015 on a unit-by-unit basis to minimize disruption to residents. The rehabilitation was fully complete in August 2016.

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The first residents at NAL can speak to the changes in their community. Fernando and his family have been residents since the building opened in 2011. When asked about Walker’s Point, Fernando insists his neighborhood has changed 180 degrees. In early 2011, he remembers waking up in the early hours of the morning to the sounds of fighting and police sirens. Now, he sees conscientious neighbors who are invested in their community. He sees new and expanding businesses, blighted buildings given new life, and new market-rate apartments being developed in Walker’s Point.

Finding well-managed, affordable housing at NAL has allowed Fernando to be a part of the revitalization of his home community:

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Fast-forward to 2013, and Spike Brewing moved into a 2,000 square foot warehouse space in the Riverworks area of Milwaukee. As Ben’s business grew, it outpaced his ability to personally finance his investments in inventory. Ben looked to traditional financing sources for capital to make the large inventory orders his growing business needed, but found that his unique situation as a young entrepreneur with an emerging business made it difficult for banks to lend to him.

With a sound business plan, strong financials and a dedicated owner at the helm, Impact Seven’s Business Development team worked hard to get Spike Brewing the funding it needed.

Ben’s business is booming, and a continued relationship with Impact Seven has kept inventory purchases possible. With new developments in brewing equipment, Ben is optimistic that he will increase sales two-fold in the upcoming year, which may require an upgraded facility and the possibility of hiring a shop manager.

However, the agreement requires a major expansion by Exodus, requiring an increase in production from six machines per month to 32 and involving the acquisition of a 2.88 acre lot and completing a 60,000 square foot building addition. Exodus was unable to obtain financing for such a large expansion. This project would not have occurred without Impact Seven’s investment and technical assistance needed to involve public funding sources and nontraditional financing opportunities.

Projections are for the addition of 206 new positions over the next five years and as many as 350 jobs over the next six to eight years, including jobs in welding, machining, assembly, engineering, purchasing, manufacturing, and management.

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Exodus Machines— a major Superior area employer—produces wheeled material handlers for the scrap and recycling industry.

After introducing its first machine to the market in late 2009, Exodus formed an alliance in 2012 with Caterpillar by which Exodus products are branded as Caterpillar products. They are marked and distributed through Caterpillar’s vast distribution network.

However, the agreement requires a major expansion by Exodus, requiring an increase in production from six machines per month to 32 and involving the acquisition of a 2.88 acre lot and completing a 60,000 square foot building addition. Exodus was unable to obtain financing for such a large expansion. This project would not have occurred without Impact Seven’s investment and technical assistance needed to involve public funding sources and nontraditional financing opportunities.

Projections are for the addition of 206 new positions over the next five years and as many as 350 jobs over the next six to eight years, including jobs in welding, machining, assembly, engineering, purchasing, manufacturing, and management.

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Impact Seven and Wisconsin Redevelopment jointly developed 34 two- and three-bedroom apartment homes overlooking Beaver Dam Lake at the Gateway to Beaver Dam’s Historic Downtown.

The project includes indoor resident parking, balconies overlooking the lake and many other upscale amenities. Each unit utilizes a spacious loft style design as seen in other warehouse conversions within Milwaukee’s Third Ward.

Beaver Dam Lake Historic Lofts is a catalytic development that is supported by a wide range of state and federal agencies including WHEDA, the State Historical Society, and the State Department of Commerce.

The building was constructed in 1881 and operated as a mill until 1934 when a labor strike forced its closing. In 1936 the City purchased the building and coaxed the Weyenberg Shoe Company to lease the building for $100/yr as long as they provided jobs. Weyenberg continued to operate until 2005 when they moved out entirely. The City put out an RFP to redevelop the property. Impact Seven and Wisconsin Redevelopment were ultimately selected to redevelop the building under the Historic Preservation Tax Credit program.

In 2010, the building was placed on the State Register of Historic Places and in 2011, the building was placed on the National Register of Historic Places.

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The 24 loft-style two- and three-bedroom units are available to families earning less than 60% of area median income. Amenities include a community room with an exercise area, a business center and free wireless internet, indoor parking, a playground, security cameras and key-card access, common outdoor deck, and a green roof. Each unit contains a dishwasher, garbage disposal, balcony, in-unit washer/dryer, central A/C and large interior storage units.

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“Developments this complex are sometimes difficult to keep on schedule, and we are very pleased the team delivered the project on time and budget,” says Kristine Giornalista, Impact Seven’s Vice President of Real Estate Development. “More importantly, we are excited that 20 more units of quality, affordable rental homes are available in the Rice Lake community.”

The Rice Lake School Board originally constructed the building in 1936 as a six-room primary school. After more than eight decades of service, the Rice Lake School Board determined the building could no longer support modern educational needs and vacated the building. In 2013, Impact Seven proposed an adaptive reuse to safeguard the landmark and respond to the area’s housing demand. Construction began in summer 2015 to convert the school building into 12 loft-style apartments and add 8 new townhomes.

Both renovated and newly constructed buildings follow Wisconsin Green-Built Homes criteria for sustainable construction. Sustainable practices and features include enhanced air sealing, low VOC products and Energy-Star rated windows. All units feature Energy-Star rated products including appliances, light fixtures and bath fans with timers, 95% efficient furnaces and high efficiency central air conditioners (SEER 14). The historic apartments provide either one or two bedrooms with an open design with high, exposed ceilings and design elements such as art niches and built-in shelving. The townhomes are designed to accommodate larger families with three bedrooms, two bathrooms, ground level exterior entrances and a private garage. The development provides numerous common amenities such a multi-purpose community room in the former gymnasium, on-site laundry, school-grade playground equipment and covered parking. All units are set aside for a mix of households, including those earning at or below 30%, 50% or 60% of the County Median Income (CMI). Rents are structured to be affordable to families at those incomes levels.

The project was made possible by significant public investment, including Low Income Housing Tax Credits (LIHTC) from the Wisconsin Housing and Economic Development Authority, federal historic tax credits, state historic tax credits jointly administered by the Wisconsin Historical Society and Wisconsin Economic Development Corporation, HOME funds administered by the Wisconsin Department of Administration, Affordable Housing Program (AHP) funds from the Federal Home Loan Bank of Chicago, and a NeighborWorks America capital grant. Bremer Bank provided both construction and permanent financing.

The grand opening took place on June 27th and included formal remarks from representatives from Impact Seven, the City of Rice Lake, Wisconsin Housing and Economic Development Authority (WHEDA), Wisconsin Economic Development Corporation (WEDC), National Equity Fund and the Wisconsin Historical Society. With Impact Seven at the helm of development, construction was complete in April 2016 and is now 100% occupied.

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Mirro Plant #3 in Manitowoc was constructed in 1929 by the nation’s largest aluminum goods manufacturer, Manitowoc-based Aluminum Goods Manufacturing Company, also known as Mirro.

By 2003, all Mirro company production operations were transferred out of Manitowoc and overseas, which left all of Mirro’s original Manitowoc facilities either demolished or vacant. This $9 million project will renovate one of the last historic icons of early Manitowoc industry and will provide exceptional loft-style apartment units, indoor parking, artist spaces and on-site management.

This project is ideally located for workforce housing being near downtown Manitowoc and adjoining a city bus line for easy access to all parts of Manitowoc. The project is designated for low-income individuals with a 30-year affordability period, so special care will be taken to ensure that the latest in energy-efficient equipment, materials and methods are used in the project, as well as durable and low-maintenance building materials. Construction follow Wisconsin Green-Built Standards, a nationally-recognized initiative that reviews and certifies new homes, multifamily units and remodeling projects that meet sustainable building and energy standards.

In addition, 25% of the project’s apartment units are targeted to veterans in need of supportive services. Manitowoc County Veterans Services Office, working in conjunction with Lakeshore CAP, will provide veteran support services in space allocated in the development. In addition to veterans, the Artist Lofts will target the artist community, allowing individuals to create, display, and sell their work in the same building in which they live.

Construction commenced in November 2015 and began occupancy in the summer of 2016.

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