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Stephen Elliott (Steve) is a results-focused shareholder in Reinhart’s Real Estate Practice who advises national-scale developers, individuals and financial institutions in all aspects of real estate development, financing and ownership.  

He focuses his practice on the development and financing of affordable housing, including housing developed using Low-Income Housing Tax Credits (LIHTC), the HUD Rental Assistance Demonstration (RAD) program, HUD Choice Neighborhoods Implementation (CNI) grants, the HOME, AHP and Housing Trust Fund programs, Tax-Exempt Bond Financing and conventional financing. Steve has represented developers of affordable housing in more than a dozen states and has partnered with his clients to bring thousands of quality affordable housing units to communities that need them.  He also has substantial national experience with ground lease development and financing, including medical office buildings on hospital campuses. 

Steve provides strategic advice to developers and lenders nationally and is experienced in all aspects of real estate development, from purchase and sale agreements, public-private partnerships, land use approvals, financing and leasing through disposition, including tax-deferred (1031) exchanges.

He provides his clients with straightforward solutions within complex, technical transactions. Steve’s experience with projects involving multiple government agencies allows him to help his clients successfully navigate the intricate regulations and multi-layered approval processes needed to successfully complete a project on time. He is thorough, skilled at keeping all parties on task, and dedicated to ensuring that his client’s goals aren’t lost in the process.

Steve leverages his extensive experience to help clients move quickly to resolutions and realize their project goals. Seeing the tangible benefits of his work and how it positively impacts communities drives his passion for helping his clients succeed.

Steve is an avid cyclist and when not working, can often be found road or mountain biking, tackling home renovation projects and spending time with family. He loves watching his daughter perform with the Milwaukee Ballet School and Academy


  • J.D., cum laude, University of Wisconsin Law School
  • B.B.A., University of Wisconsin-Madison (Business Administration)

Bar Admissions


Honors & Affiliations


  • Best Lawyers in America - Real Estate Law
  • Milwaukee Bar Association
  • State Bar of Wisconsin
  • ABA Forum on Affordable Housing (member)
  • National Housing and Rehabilitation Association (member)

News & Insights


  • “Low Income Housing Tax Credits 101,” Wisconsin Collaborative for Affordable Housing (July 20, 2023).