//Beaver Dam Lake Historic Lofts
Beaver Dam Lake Historic Lofts 2018-04-17T01:26:20+00:00

Project Description

Beaver Dam Lake Historic Lofts

Beaver Dam Lake Historic Lofts is the $8.4 million adaptive re-use of a former Cotton Mill Building in Beaver Dam, Wisconsin.

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.

Project Summary

0
loft-style apartments
$0
total development cost

Impact Seven’s Role

Co-developer and Co-owner

Location

Beaver Dam, WI

Project Type

Adaptive re-use

Funding Sources/Partners

Low-Income Housing Tax Credits
Historic Tax Credits
Community Development Block Grant
EPA Brownfield Funding
Federal and State Historic Credits