Finance v Wisconsin

Associated Bank provides $2.3 million for Green Bay YMCA renovations

  

The Green Bay, Wisconsin-based Ferguson Family YMCA, previously known as the Downtown YMCA, has undergone a renovation with the support of Associated Bank. Associated recently provided $2.3 million of Wisconsin Historic Tax Credit equity toward the building’s revitalization.

The 93-year-old, 112,000-square-foot building, located at 235 N. Jefferson St., was modernized with an open-concept design facility. The building received extensive structural and mechanical improvements and modern materials were used to complement the existing wood elements and the naturally lit atrium. Several activity spaces, including the Gymnastics Center and pool were updated, and were further enhanced with the addition of the new Family Adventure Center.

The renovation began one year ago with an official unveiling of the facility and its new name this past spring. Associated provided the $7 million construction loan, in addition to a $250,000 donation toward the facility’s improvements and upgrades.

The Greater Green Bay YMCA, which has four branches in the area, is a cause-driven 501(c)(3) charity for youth development, healthy living and social responsibility. YMCA has been in operation in the Green Bay area since 1870 and today serves more than 30,000 members in the community.

Teresa Gutierrez, senior vice president for Commercial Real Estate, based in Chicago, managed the equity investment, and Julian Lamue, senior vice president for Commercial Lending, based in Green Bay, handled the loan arrangements and closing.