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Interest-free construction loan enables new Cudahy homesite to train future tradespeople and add to new housing stock in community
Community bank empowers MCSC mission, continuing the long-time partnership
Brookfield, Wis. – Very soon a basement will be dug, and a new home will rise from a vacant lot in Cudahy thanks to an innovative partnership that will help train up-and-coming Milwaukee area tradespeople. A brainchild of two longstanding community partners, Milwaukee Community Service Corps (MCSC), which empowers Milwaukee’s at-promise young adults, unemployed, and under-employed individuals through valuable hands-on job training, and the non-profit’s long-time partner North Shore Bank, collaborated to put the plan in motion. The bank will front the funding to build the house through a no-interest loan, with MCSC contracting with home building crews that will train and utilize MCSC members to build the new home on a lot the non-profit currently owns at 3625 East Somers Avenue in Cudahy. The home will be sold at fair market value, and those proceeds will repay the bank loan with remaining proceeds used to fuel the MCSC mission.
“This is a unique partnership where really everyone wins,” said Michael Kellman, senior vice president of lending for North Shore Bank. “As a community bank, we get to support a wonderful community organization in its mission, MCSC members gain valuable work experience propelling future trade careers, the lucky buyer will receive a new home of the highest quality in a great community, and MCSC will have additional funds to do even more good. It’s a win-win-win-win.”
Construction will begin today, April 7 and continue through summer of 2025. The home will be approximately 1,700 square feet in size with four bedrooms and two bathrooms, and an unfinished basement. Construction expertise from local contractors, including DJs Renovations Unlimited, Bliffert Lumber, and Current Electric is being offered at a discount to also support MCSC’s mission.
“We are so grateful to be partnering with North Shore Bank on this groundbreaking construction project,” said Mike Consiglio, executive director for Milwaukee Community Service Corps. “This project is an incredible opportunity for our Corps Members to gain hands-on construction experience while developing valuable skills that will not only shape their careers but also empower them for a lifetime. It’s an investment in their future and in the future of the community.”
North Shore Bank and MCSC have built a long-standing partnership over the last ten plus years, but this is the first-ever joint build project. In fact, Kellman, who has worked in the lending industry for more than 30 years, is not aware of another unique homebuilding and training partnership like this in the country.
“MCSC is an organization that is close to our hearts, and we’ve been proud to support its mission for over a decade,” said Kellman. “As a community bank, we are always seeking out ways to invest in those around us and support opportunities that uplift and strengthen our community.”
Founded in 1923 and headquartered in Brookfield, Wisconsin, North Shore Bank is a mutual savings bank with assets over $2.5 billion and 42 offices throughout eastern Wisconsin and northern Illinois. Wisconsin locations are in metro Milwaukee, Germantown, Ozaukee County, Racine, Kenosha, Appleton, Menasha, Green Bay and surrounding areas, Burlington, Union Grove, Muskego, and Door County. Locate a North Shore Bank office. You can also connect with the bank on LinkedIn, Facebook, Twitter, Instagram, YouTube, and TikTok.
Milwaukee Community Service Corps (MCSC), established in 1991, is a nonprofit serving the Greater Milwaukee area by providing education, life skills and job training opportunities for at-promise young adults, unemployed, and under-employed individuals that allow them to earn wages while improving the community as well as the environment.