A new plan to add 18,000 affordable housing units in Milwaukee is the latest in a string of efforts by the city to ensure housing affordability to all income levels and address the racial homeownership gap in the city.
The Community Development Alliance has released a new plan to create 18,000 affordable homes for low-income and minority residents in Milwaukee over the next decade.
According to an article by Jeramey Jannene, the plan is "designed to address both homeownership and rental housing and targeted at those making between $15,080 to $31,200 per year ($7.25 to $15 per hour)."
Moreover, "The plan also includes an explicit focus on addressing racial inequity."
According to a separate article by Talis Shelbourne, the plan would spend, over ten years, "$69.3 million more in grants and $66.2 million more in loan capital from banks and other lenders" than currently planned.
"That investment, the report stated, would result in 8,100 new Black and Latino homeowners and 9,750 homes for families making $7.25 to $15 an hour. The remainder envisioned by the plan would come in subsequent decades," according to Shelbourne.
The plan is the latest effort in Milwaukee to fund affordable housing and address the city's racial housing gap. Sophie Carson and Alison Dirr reported in July that Milwaukee Mayor Tom Barrett announced $30 million from the American Rescue Plan Act to fund housing initiatives.
The Community Development Alliance was founded in 2011, with backing from the Greater Milwaukee Foundation, Zilber Family Foundation, Northwestern Mutual Foundation, Bader Philanthropies, and the city of Milwaukee.
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