About

Mission

MDC: A partnership for catalytic real estate development that supports a vibrant Milwaukee for all.

MUSIC: Rebuild and revitalize challenged urban communities through real estate redevelopment to improve all lives.

Strategies

  1. Leverage real estate industry expertise
  2. Provide gap funding to catalyze projects
  3. Invest in community-projects or initiatives
  4. Acquire and develop real estate

Focus

  • Expand housing (workforce, senior, etc.)
  • Boost emerging local developers
  • Leverage catalytic real estate opportunities

Guidelines

Use of capital:

  • 80% of internal MDC/MUSIC capital targeted to real estate projects
  • Up to 20% of internal capital available to include initiative serving mission
    e.g., KIVA, WWBIC, Main Street Bounce Back, Capital Catalyst

Project Considerations

  • Individual projects to not exceed $4m of internal capital
  • Smaller investments consider admin cost to community benefit(s)
  • Terms consider Non-profit or for-profit mission

Project activates or accelerates positive community change

MDC investment accelerates or magnifies project impact

Project meets “but for” test; unlikely to move forward without MDC investment

Gap Funding:

  • Partner with other entities for larger investments
  • Term 6 months to 5 years, typically, less than 2 years
  • Low-risk profile

Community-projects or initiatives:

  • Up to 25% investment share
  • 2–7-year term
  • Loans/mezz/equity-type investments

Acquire and develop real estate:

  • Up to 100% investment share
  • Short- to long-term investment
  • Owned individually or in partnership
  • Community investment or expands capital for future investments