New Markets, Creative Partnerships: Pathway, Capri Pursue Distinct Growth Strategies
In 2017, the Archdiocese of Milwaukee sold land in the city's historic Italian-American neighborhood for $ 1 to the Capri parishes. Capri created St. Rita Square, a 118-unit senior community with independent living, assisted living, and memory maintenance. The Waukesha, Wisconsin-based developer and operator then built a brand new church next to the new ward and sold that church to the Archdiocese for $ 1, SVP of Development Wayne Wiertzema said at the recent Senior Housing News BUILD event in Chicago. In essence, the Archdiocese of Capri gave the land and Capri gave them back a new church. This is just one example of how Capri - a for-profit company - is working in creative ways with religious organizations to enable growth and expand its portfolio. Capri intends to continue expanding through development in the future. This is in contrast to Chicago-based Pathway to Living, a Waterton company. Waterton SVP of Investment Justin Dickinson sees the pres