For Immediate Release
Contact: Kate Venne, kvenne@capstonenp.com or 414-406-1476
MILWAUKEE, WI, May 29, 2013 – The Sherman Park Senior Living Community, 3245 N. 37th Street, is holding an Opening Day Celebration Wednesday, May 29 at 10 a.m. The 68-unit apartment building is the former home of Jackie Robinson Middle School.
“This development revitalizes a historic five-acre parcel in the heart of the historic Sherman Park neighborhood with a multi-generational campus including 68 senior apartments and 11 new single-family homes along Concordia Ave,” said Ted Matkom, Wisconsin Market President for Gorman.
Milwaukee Public Schools (MPS) sold the school to Gorman & Company, the Oregon based developer, to create affordable housing for the neighborhood’s senior citizens. In 2010, the Wisconsin Housing and Economic Development Authority allocated lowincome housing tax credits to Gorman. Alliant Capital purchased these tax credits along with the historic tax credits generated by the project. Chase and IMPACT provided the construction and permanent financing.
“A safe and secure place to live is part of the American dream, but sometimes that dream can be a challenge for our senior citizens,” said Jim Popp, president of Chase Middle Market in Wisconsin and Minnesota. “Chase is very proud to be a part of this important project that is revitalizing the city and providing affordable housing and a community for our senior population.”
The school is one of four MPS buildings sold in recent years and the only one used for a purpose other than a school. “The senior residents in the old Jackie Robinson School love the art-filled hallways and having an opportunity to continue to live in the Sherman Park neighborhood where they spent a majority of their lives,” said Matkom.
