Appleton native Richard Reetz left a legacy donation for Pillars, Inc. that increased its property portfolio by 26 percent.
Reetz, who died June 11 at age 97, donated 10 properties with 20 rental units to Pillars, which addresses housing challenges in the Fox Cities.
Prior to the donation, Pillars had a portfolio of 35 properties that it manages with affordable rents as well as two crisis housing shelters.
“It comes at a time that is really critical,” said Lisa Strandberg, Pillars executive director. She said it will take time to integrate the donation.
The housing units are currently occupied and Pillars is working with the tenants to determine if they will remain as occupants through Pillars.
“What we’re able to do now is ensure stability for folks who need it and potentially… expand access to affordable housing.”
According to an obituary for Reetz, he owned an engineering business, but also managed rental properties throughout his life. “He operated his rentals on handshakes and goodwill,” according to the obituary.
Strandberg said Reetz was an astute businessman who managed the rentals into his 90s who also was a friend to the tenants he served.
