Legacy Midwest Renewal Corporation

Legacy Lofts, a $13.8 million development of the former Blommer Ice Cream Company factory, is now home to LRC offices and 64 fully leased market and affordable housing apartments. 

LMRC Board of Directors*

  • Terese Caro, Chair, Legacy Redevelopment Corp.

  • Richard W. Lincoln, Vice President, Treasurer/Secretary, Mandel Group, Inc. (Retired)

  • Troy Reese, Member, T. L. Reese Construction

  • Sally R. Peltz, Founder, LRC

  • Brian Mays, Member, Royal Capital Group

Legacy Midwest Renewal Corporation (LMRC) is a nonprofit organization that supports LRC’s mission through strategic real estate development. The affiliate company was started in 2005 by Sally Peltz former CEO of Legacy Redevelopment Corporation.

Working alone or with like-minded partners and investors, LMRC strives to improve urban neighborhoods through smart and thoughtful real estate development — including real estate acquisition and rehabilitation of existing projects and new housing. Currently, LMRC is part of the small team bringing new life into the Lindsey Heights neighborhood.  LMRC’s most recent real estate project is Legacy Lofts, located at 1500-1540 W. North Ave. Legacy Redevelopment Corporation’s (LRC) main office is located in the Legacy Lofts development. The goal in this project was to offer affordable, adequate housing to families in the community in which LRC serves. The project has 64 units, of which, 54 units are low income, allowing LMI families access to a newer but affordable housing. 

LMRC is currently looking to establish or partner with local developers on the next real estate project. If you’re interested in partnering with LMRC, please reach out to Terese Caro, President/CEO of LRC at tcaro@lrcmke.com or (414) 343.3091 to discuss your project and financing needs. 

In the past, the organization has:

  • Owned and operated the North Avenue Commerce Center, a 60,000 square foot, commercial space at 24th Street and North Avenue, in the heart of LMRC’s target market. The building was sold to Hope Christian School, a Milwaukee Choice School, in 2014. 

  • Purchased eight lots in The Legacy, an urban subdivision near 23rd Street and North Avenue. To date, four homes were developed that have been purchased by first-time home buyers. Because LRC is a Community-Based Development Organization (CHDO) through the City of Milwaukee, HUD HOME Funds assisted in the construction.

To discuss LMRC investment and partnership opportunities, please contact Terese Caro by email or at 414.343.0163.

Learn more about recent LMRC historical news.

Milwaukee Journal Sentinel Legacy Lofts

Milwaukee Business Journal Legacy Lofts

OnMilwaukee Legacy Lofts 11/19/17

Milwaukee Courier Legacy Lofts 11/11/17

Urban Milwaukee Legacy Lofts 11/9/17