Affordable Housing Program – Funding funding from the Federal Home Loan Bank

WMC is thrilled to announce that 2 of its projects were awarded funding from the Federal Home Loan Bank – Chicago. Prairie House Apartments in Sauk City received $465,000 and Driftless 3 Apartments in New Glarus and Dodgeville received $420,000. WMC also successfully assisted 3 other applicants. This couldn’t have been achieved without the invaluable input from Joe Schwenker, our Development Consultant.

Joe Schwenker began his career in affordable housing in 1994 with a local developer where he developed six properties including new construction and rehab. As a real estate consultant, Joe worked with non-profits to rehab numerous older HUD properties using the tax credit program. He also developed Hawley Ridge Apartments (AHP Awardee), a development serving blind/visually impaired residents that won a Charles Edson affordable housing award. In 2012 Joe joined a regional developer where he developed seven tax credit properties in WI, IL and IA that used a variety of financial structures that included three AHP awards. In 2018 he joined Wisconsin Management Company where his role I to identify and analyze development and acquisition opportunities for the company and its clients. In 2019 two of these RD properties were awarded tax credits. 

Joe’s approach is to work collaboratively with professionals to develop projects that respond to market dynamics and the goals of the owner, while maximizing financial return. We are honored to have him on the WMC team and would like to congratulate him on the amazing work he has done on these projects!

– The WMC Team