Crossbridge partners on Marathon City apartment construction project, highlights Tomahawk efforts
For the Tomahawk Leader
MARATHON CITY – Crossbridge Community Bank, on Tuesday, Aug. 2, announced a construction financing project that will bring 30 apartment homes to Marathon City.
PJ Childers, Crossbridge Senior Vice President of Commercial Lending, attended the project’s recent groundbreaking.
The project is in partnership with Paper City Savings Association and S.C. Swiderski LLC.
In a release, Crossbridge said it has also worked with Swiderski on its recent expansion of multifamily housing units in Merrill, helping to finance a portion of its Fox Point development.
Crossbridge noted that President Kathy Rankin has been involved in developing new projects slated in Tomahawk.
Rankin helped coordinate a 2020 study that provided information about housing needs in the City of Tomahawk. The study, conducted by the City of Tomahawk, Tomahawk Regional Chamber of Commerce, Tomahawk Main Street Inc., Lincoln County Economic Development Corporation and UW-Madison Lincoln County Extension, indicated the need for additional housing within the city.
Crossbridge said Rankin, who serves as a member of the Community Development Authority for the City of Tomahawk, “has been a strong voice for promotion of housing and community development programs, sustainable development, economic opportunity and increasing the city’s tax-base.”
“It is clear that housing needed to become a priority to continue to allow our communities to grow,” Rankin stated. “Attracting families and young professionals, while providing viable options for existing residents, is the goal of these projects and those to come. The need is vast, and these projects are the start of opportunities to bring more development and developers to our region.”