ADAPTIVE REUSE & AFFORDABLE LIVING FOR 55+ ADULTS

Park Place Holdings transformed the former Kimberly-Clark office building in Neenah, Wisconsin, into Marathon Flats, a $17.5 million adaptive reuse project designed to meet the growing demand for 55+ housing in the Fox Cities. The property now features 61 studio, one-bedroom, and two-bedroom apartments, combining affordability with modern amenities like a fitness center, golf simulator, and community courtyards. Its location near downtown Neenah and Highway 41, across from a single-family home community and near essential services and entertainment made it a prime location for residential units.

The single-story building’s layout made it ideal for older adults, but extensive renovations were required to meet residential standards, including upgraded plumbing and electrical systems. By offering rents below market average, Marathon Flats addresses a critical housing gap in a community where 30% of residents are aged 55 or older. With its innovative design and sustainable approach, the project also reflects a broader trend of repurposing underutilized office spaces to meet evolving housing needs.

The project was completed in two phases – Phase I launched in November 2023 and Phase 2 units were available in August 2024.  The project was recognized by the state of Wisconsin’s WHEDA Vacancy To Vitality and Infrastructure Access programs, offering low interest funding to projects that meet the growing demand for affordable housing across the state.