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Legacy Waveland Advisors
Formed in 2004, Legacy Waveland Advisors (LWA) is a partnership created with Legacy Bancorp, the 13th largest Black-owned bank in the United States. LWA serves as investment advisor to the Wisconsin Community Development Legacy Fund (WCDLF), a partnership between Legacy Bank, and the Wisconsin Housing and Economic Development Authority. Since 2003, WCDLF has been allocated over $400 million in New Market Tax Credits.
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Project Title: 318 N. Water
Size of Transaction: $8 Million
Number of Jobs Created: 142
Description: Historic Rehab of the Alfred Uihlein Building which was constructed in 1908. This 43,000 square foot building is home to a variety of marketing and communication based businesses that employ over 140 high wage earning individuals.
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Project Title: Aloft Hotel
Size of Transaction: $27 Million
Number of Jobs Created: 90
Description: Construction and permanent financing for the 160 room Milwaukee Aloft Hotel. This is the first major development in Milwaukee’s Park East sector, a highly distressed economic and environmentally challenged location.
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Project Title: Lena's Food Market
Size of Transaction: $3.7 Million
Number of Jobs Created: 145
Description: Redevelopment of a 33,000 square foot grocery store in one of Milwaukee’s most economically distressed neighborhoods. This minority owned business has created employment opportunity for over 150 people, while providing a much needed service in a neighborhood that is undergoing economic revitalization
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Project Title: Milwaukee Health Services
Size of Transaction: $5.8 Million
Number of Jobs Created: 210
Description: Acquisition of a 31,000 square foot health care facility that serves a mostly African-American population. Formed in 1989, this expansion will allow the extension of primary care services to low-income community residents in the City of Milwaukee. Milwaukee Health Services, Inc. has a long term-commitment to promoting a higher quality of life in the communities it serves.
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Project Title: IHOP
Size of Transaction: $3.5 Million
Number of Jobs Created: 65
Description: Permanent financing for a 47,000 square foot IHOP restaurant in Milwaukee’s central city. First of several planned franchises for a successful African-American entrepreneur.
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Project Title: Summit Place
Size of Transaction: $22 Million
Number of Jobs Created: 1,000
Description: Redevelopment of an industrial parcel vacated by Allis Chalmers into over 600,000 square feet of Class A commercial office space. Blue Cross and Blue Shield of Wisconsin is a major tenant and provides a catalytic employer presence in this historically highly industrial neighborhood.
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Project Title: Pick' n Save
Size of Transaction: $45 Million
Number of Jobs Created: 650
Description: Development of an abandoned 41 acre industrial site in the City of West Milwaukee. The project consists of significant site demolition and environmental remediation which will be followed by the construction of a 59,000 square foot Pick ‘n Save grocery store for Roundy’s Supermarkets, Inc.
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Project Title: Ponderosa
Size of Transaction: $2 Million
Number of Jobs Created: 40
Description: First African American woman owned Ponderosa Steakhouse franchise in the United States. This 6,500 square foot central city restaurant represents a new-urban prototype for Ponderosa with a menu that includes Southern-style entrees as well as unique take-out and catering capabilities.
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Project Title: Palermo Villa
Size of Transaction: $27 Million
Number of Jobs Created: 420
Description: New construction of a state of the art food manufacturing facility and headquarters for Palermo Villa, Inc., a privately held manufacturer and marketer of frozen pizza products. This 150,000 square foot facility will be situated on 12 acres in Milwaukee’s Menomonee Valley and be home to approximately 270 employees.
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Project Title: Proven Direct
Size of Transaction: $15.7 Million
Number of Jobs Created: 112
Description: Construction and permanent financing for 144,000 square foot manufacturing and distribution center for Proven Direct, a direct marketing and fulfillment company.
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Project Title: Iron Horse Hotel
Size of Transaction: $31 Million
Number of Jobs Created: 165
Description: Construction and permanent financing for 102 room boutique hotel located in Milwaukee’s Menomonee Valley. Developed to serve the recently constructed Harley Davidson Museum.
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Project Title: The Brewery
Size of Transaction: $16 Million
Number of Jobs Created: 23
Description: The Brewery is the adaptive reuse of the former Pabst Brewery complex. Once America's largest brewery. The Brewery represents one of the most significant historic preservation and environmentally sensitive redevelopment opportunities currently underway in urban America.
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