Associated Bank completed a $12.845 million loan to Williams Street Investment Partners for construction of a mixed-use development at 550 William St. in DePere, Wisconsin.
The project is on the site of a former Shopko store.
The new mixed-use five-story project will include 60 multifamily rental units with 7,900 square feet of commercial space on the first floor. One, two and three-bedroom units will be available at various price points.
The project is currently under construction with an anticipated completion of July, 2026. It is a significant enhancement of what had become a blighted site in downtown DePere after the Shopko store closed six years ago. The project is the first building of a multi-phase re-development plan which includes a hotel, a city-owned parking structure and another mixed-use residential building.
Tim Jorgensen, a senior vice president with Associated Bank’s Commercial Real Estate, handled the loan arrangements and closing.
