Glenbrook Apartments Real Estate Case Study
HUD-subsidized/Urban Redevelopment
CommonBond Communities and Bishop’s Creek CDC collaborated to preserve Glenbrook Apartments, located in a high-priority revitalization area near the former Northridge Mall in Milwaukee, Wisconsin. The effort revitalized 72 large apartment homes for families, providing significant investment to modernize and increase long-term sustainability of this important housing resource. As part of the renovation, a new Advantage Center community building was added to provide programs and services that support resident success.
Development Partners
- Bishop’s Creek CDC
- Cermak Rhoades Architects
- City of Milwaukee
- Frerichs Construction
- Helen Bader Foundation
- Great Lakes Capital
- Greater Milwaukee Foundation
- Jane Bradley Pettit Foundation
- John C.Cudahy YMCA
- LISC Milwaukee
- MacArthur Foundation
- Milwaukee Public Library
- M&I Community Development Corporation
- Wells Fargo
Financing Tools
Glenbrook’s renovation was financed through a number of sources, including tax credits, federal stimulus funds, grants, and loans.
$
0
Enterprise Community Tax Credit Equity
$
0
HUD TCAP Funds
$
0
WHEDA First Mortgage
Amenities
- Easy access to bus service, schools, daycare, shopping, banks, and services
- On-site management & Advantage Services with Computer Lab and Community Room
- New appliances including dishwashers and microwaves
- New central air units, furnaces, and water heaters
- All new flooring, kitchen and bathroom cabinets, and plumbing
