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Park Midway Bank
Creating Homes for Saint Paul Seniors
"I needed someone to be a strategic ally for Episcopal Homes' growth." |
 Episcopal Homes has been serving the needs of Saint Paul seniors for over 110 years. But a shortage of affordable housing combined with a growing senior population had forced many to leave their urban neighborhoods. So when an opportunity to double the size of Episcopal Homes' campus arose, President and CEO Marvin Plakut called Park Midway Bank.
"We knew that Park Midway Bank had a history of assisting local non-profits. I needed someone I could trust who could be a strategic ally for our Homes' growth," said Plakut. Park Midway Bank listened to the Episcopal Homes story and presented options to meet their business challenges head-on. "Park Midway came forward with a generous contribution to our capital campaign and extended loans at crucial times to keep our projects moving forward," said Plakut.
With Park Midway's assistance, Episcopal Homes was able to add 120 units of senior housing in three new buildings as well as to create a safe and beautiful campus for their residents. Housing options range from affordable units for lower-income seniors to market rate units with supportive services.
"We've created the core of an urban village for our elderly neighbors. And Park Midway Bank has been a vital partner in that success."
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