MADISON, Wis. June 22, 2017 – Associated Bank announced the completion of $17 million in loan and equity dollars for the conversion of two former Catholic schools in Fond du Lac, Wis. into 47 apartments. Located at 63 East Merrill and 95 E. Second Street in Fond du Lac, Parish School Apartments will have 17 three-bedroom units, 28 two-bedroom units, and two one-bedroom units. Each apartment will have central air conditioning, an in-unit washer/dryer and access to storage facilities. The renovation will also include a community room, exercise room and business center. Eleven apartments will be reserved for veterans and/or individuals at risk of long-term homelessness. Completion is projected for March 1, 2018


Commonwealth Development Corporation is the developer of the project, targeted for low-income residents. Associated Bank will purchase the Federal Low-Income Housing Tax Credits (LIHTC), and the Federal and Wisconsin Historic Tax Credits (HTC) totaling $9 million through the National Equity Fund. Associated Bank will also provide the $7.4 million construction loan and Associated Community Development will pass through a $600,000 Affordable Housing Program (AHP) grant via the Federal Home Loan Bank of Chicago, for a total of $17 million.


Wisconsin-based Commonwealth Development Corporation brings extensive knowledge of unique and sophisticated financial structures that facilitate the development of affordable housing, superior and cost-efficient construction processes, and state-of-the-art property operations to the development of residential projects.


Associated Bank’s Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs. The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.



Associated Banc-Corp (NYSE: ASB) has total assets of $29 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at

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