CIBC Invests $45M in Thrive on King to Boost Affordable Housing in Downtown Milwaukee

CIBC, through equity investment and construction lending, has pledged $45.5 million to support the Thrive on King project in downtown Milwaukee. This historic adaptive reuse initiative aims to convert a former department store building into 90 units of affordable housing.

Community Investment Impact

Tony Hernandez, head of Community Investment at CIBC Bank USA, expresses excitement about the project's potential. He highlights its dual benefits of providing much-needed affordable housing while also preserving Milwaukee's rich history. Hernandez emphasizes CIBC's commitment to investing in Milwaukee's future, underscoring the pride the bank feels in contributing to this transformative project.

Anchor Tenants and Services

The commercial space within Thrive on King will feature anchor tenants such as the Greater Milwaukee Foundation and the Medical College of Wisconsin. This space will serve as a multifunctional hub offering diverse services, including food, health and wellness programs, art, culture, history, and community gatherings.

Significance and Vision

The Thrive on King project represents more than just affordable housing; it embodies a vision for revitalizing Milwaukee's urban landscape and fostering community engagement. By repurposing a historic building and integrating various services and amenities, the project aims to create a vibrant and inclusive space that enhances the quality of life for residents and strengthens the city's social fabric.