September 27, 2018
$46,225,000
WHEFA Bond Financing Helps
PHW Oconomowoc, Inc.
Construct in Oconomowoc
Bonds Underwritten by Northland Securities
“Having access to tax exempt financing is very important to our Organization as it helps keep our communities and grounds looking beautiful and our rents and services as affordable as possible for seniors.”
— Mark Meyer, Chief Financial Officer
Presbyterian Homes and Services
This project will create 45 permanent jobs with an annual payroll of $1.3 million, as well as 100 construction jobs.
Bond financing facilitated by WHEFA will be used by PHW Oconomowoc, Inc. to finance the acquisition, construction, and equipping of a new 158-unit senior housing project on an approximately 20-acre site in Oconomowoc, Wisconsin, to be known as Towner Crest. Towner Crest will consist of approximately 120 independent living apartments, 20 assisted living units, 18 memory care units, a town center, and underground parking. This tax-exempt financing process has enabled PHW Oconomowoc, Inc. to operate more effectively by financing its capital expenses at lower interest rates (3.00-5.25%).
WHEFA is proud to continue its mission of assisting all eligible Wisconsin non-profit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.
