Developer could buy, rehab Monroe Plaza senior affordable housing for up to $27.5 million

GREEN BAY - A developer interested in buying and rehabbing Monroe Plaza Apartments, the 1970s-era affordable housing complex for seniors at 400 N. Monroe Ave., is looking to the Green Bay Housing Authority for the funds to pursue its project.

The housing authority on June 19 will consider a request by Monroe Plaza Housing I LLC, whose principal office is based in Manhattan Beach, California, to access up to $27.5 million in revenue bonds to cover the cost of acquiring and rehabilitating the 197-unit apartment complex.

Here`s what to know.

What is the developer requesting from the Green Bay Housing Authority?

The official request is for the housing authority to give the developer up to $27.5 million in "tax-exempt conduit revenue bonds."...

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Leo’s notes: Preserving and modernizing affordable senior housing like Monroe Plaza is vital to keeping communities inclusive and livable for all ages. Public-private partnerships and creative financing tools, such as conduit revenue bonds, offer an important path to ensuring these critical homes remain safe, updated, and accessible for years to come.