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Specializing in providing an affordable place to live
Laurent to focus on development of in-fill housing in city

By Pete Millard
The Business Journal, September 14, 2007

Gorman & Co. has made it a priority to invest in affordable housing projects in Milwaukee over the past five years.

Chris Laurent, the new president of the Madison developer’s Wisconsin region, expects that to continue under his leadership.

“We’ll continue to be housing pioneers in Milwaukee,” said Laurent, who is currently working on a 92-unit apartment building at The Brewery Project in the former Pabst Brewing complex.

Gorman & Co. has developed 16 housing projects in Milwaukee since 2002 valued at an estimated $155 million. The development firm specializes in urban in-fill housing and has corporate offices in Madison and Milwaukee.

Laurent was named president of Gorman & Co.’s Wisconsin region in early 2007, replacing Tom Capp, who is leading a Gorman & Co. initiative to develop affordable housing projects in Miami and other markets in southern Florida.

Laurent is exploring ways to improve housing options for a large market segment of Milwaukee central city residents who are raising their grandchildren. U.S. Census Bureau data indicates there are 14,000 households in Milwaukee where grandparents are caring for their children’s children.

“What’s needed are housing designs that give kids a safe place to play and for grandparents to relax,” he said.

Laurent said the Blue Ribbon Lofts project, an affordable live-work development aimed at entrepreneurs and artists, may be the first project to break ground at the 22-acre former Pabst Brewery being redeveloped by Milwaukee real estate investor Joseph Zilber. Gorman hopes to close on the 138,000-square-foot Pabst keg house property before the end of October and begin construction soon afterward.

“Chris understands the front and back ends of providing affordable housing for an underserved market,” said Michael Mervis, a spokesman for Zilber and Towne Realty, the Milwaukee real estate company Zilber founded 60 years ago.

In addition to mastering the art of obtaining tax credit financing, Mervis said Laurent and Gorman & Co. know how to market and manage housing projects.

Before he was named the president of Gorman & Co.’s Wisconsin region, Laurent was a senior development manager for the company and was responsible for more than $200 million of development projects in La Crosse, Madison, Racine and Milwaukee.

In 2005 and 2006, Laurent was instrumental in gaining approval for three Milwaukee projects with affordable housing credits. Laurent helped develop the Metcalfe Park Homes Owner Initiative, a 30-unit single-family lease-to-purchase program in a central city neighborhood.

“We’re at the forefront of rebuilding communities,” Laurent said.

Laurent was one of the driving forces of the Dr. Wesley Scott Senior Living Community, an adaptive reuse and new construction development Gorman co-sponsored with the Milwaukee Urban League. The Scott Senior project houses 80 families.

In Milwaukee’s downtown, Laurent and Gorman constructed the Park East Enterprise Lofts, an 85-unit work-live community in the Park East development corridor that targets entrepreneurs.

“Chris knows how to navigate complicated state and federal tax credit programs,” said Maria Prioletta, the redevelopment and special projects manager for the Milwaukee Department of City Development.

Gorman & Co. has used affordable tax credit housing programs to complete several projects in Milwaukee that probably would not have built, or redeveloped, without the tax credits. A few of Gorman’s largest Milwaukee developments include the Historic 5th Ward Lofts, the Historic Lofts on Kilbourn, the Knitting Factory Lofts, the Kunzelmann-Esser Lofts and The Majestic.

The conversion of The Majestic theater into 135 loft apartments was one Gorman & Co.’s largest projects providing work force housing for the downtown Milwaukee market. The mix of uses in the building includes a pharmacy and several shops that are connected to the Shops of Grand Avenue.

The Historic 5th Ward Lofts prompted other developers to invest $82 million in the city’s 5th Ward.

“Our key to success is being flexible and creative with redeveloped buildings,” Laurent said.

“Laurent’s trademark in the Milwaukee housing market is identifying emerging trends and lifestyles,” said Prioletta. “Laurent’s company has tackled projects for the elderly, low-income workers, entrepreneurs and artists.”

Laurent worked for the National Council of State Housing Agencies in Washington, D.C., before joining Gorman in 2003. He was the director of tax policy and legislation for the National Council. From 1998 through 2002, Laurent was the manager of multi-family development for the Wisconsin Housing and Economic Development Authority in Madison.

Laurent started his professional career in 1989 at Meriter Hospital in Madison as a purchasing coordinator and material supervisor for the hospital’s operating room.

In the Milwaukee market, Laurent sees many more opportunities to become involved in historic preservation projects. Milwaukee has a large number of older buildings that are suitable for redevelopment and conversion to affordable housing, said Laurent.

“We’re studying the market and looking for preservation sites because it’s one of our strengths,” he said.

CHRIS LAURENT, President, Gorman & Co.’s Wisconsin Region

FAMILY: Two daughters, Jordan, 13, and Emma, 10

EDUCATION: Bachelor’s degree in zoology , University of Wisconsin-Madison

PROFESSIONAL AFFILIATIONS: Member of the Urban Land Institute; member of the Federal Home Loan Bank Community Investment Advisory Council; president and former fund-raising chairman of Porchlight, Dan County’s largest service provider for the homeless