The Commonwealth Companies set its eyes on growth as it merged with Mirus Partners, Inc. Thursday.
The merger creates a combined ownership of Mirus Partners, Inc., and The Commonwealth Companies — Commonwealth Development Corporation, Commonwealth Construction Corporation and M+A Design, Inc.
Moving forward, both will operate under the Commonwealth name and base operations out of the Fond du Lac headquarters, according to a press release from the companies.
The companies are both leaders in developing “innovative affordable housing communities,” with a combined 94 projects and 5,850 units to their now-shared name. Their housing spans the United States, from Savannah, Georgia to Newport, Oregon, and Cloquet, Minnesota and New Orleans, Louisiana, according to the release.
Over the past 15 years, the companies have worked together on multiple projects as they share a common commitment: to partner neighborhoods, communities and those elected to “ensure the development” of “community initiatives exceed expectations,” said Mirus Partners, Inc. Christopher Jaye in the release.
“This merger will allow us to continue to grow our development footprint and focus additional expertise on our mission,” said Louie Lange III, president of The Commonwealth Companies in a press release. Thanks to this merger, Commonwealth can now be found in 14 states.
While the headquarters will remain in Fond du Lac, Mirus’ Middleton office will be home to future development operations. Currently, Commonwealth development offices are also found in Texas, Kentucky, Oregon, Michigan and Minnesota.
Mirus Partners, Inc. Chief Operating Officer Kristi Morgan said that both companies are excited about the additional capacity created, which will allow for more opportunities in “development, acquisition, redevelopment and rehabilitation.”
“Having Commonwealth and Mirus join forces absolutely enables us to increase our project numbers and scopes, resulting in an even greater impact on more communities,” she said in a press release.
A total of 292 people are employed at the combined companies, with more being hired to fill an immediate need for additional staff, according to a press release. In 2018, the companies “will close a combined 11 projects in seven states,” and looking to 2019, an additional seven projects funded by affordable housing tax credits are already on the docket, with 12 additional projects still pending, according to the press release.
Reposted from the FDL Reporter, written by Sarah Razner. Click here for the original article.