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March EngageGCC

MILWAUKEE RISING

Exposing and confronting those behind the foreclosure crisis with the creation of Milwaukee Rising

the problem

Milwaukee homeowners were being devastated by the mortgage crisis

WHAT WE’VE DONE

In 2009, we launched a campaign to hold five of the largest banks in the world accountable for the devastation they caused to primarily African-American homeowners in Milwaukee’s historic Sherman Park neighborhood through their subprime lending practices.

After a two-year effort, we got the banks to agree to $33.8 million in investments to help restore the housing market in Milwaukee.

The Solution

Milwaukee Rising

Using some of the funds negotiated with the banks, Common Ground created Milwaukee Rising, LLC to acquire, rehab and resell (to owner occupants) 91 properties in the Sherman Park neighborhood.

These 91 homes sold for an average of $100,000 versus the average home value in 2008 of $35,000. That is $6 million in value added to these properties. This impact multiplied as the rehabbed homes boosted the values of the hundreds of nearby properties in Sherman Park.

This housing market is now restored. The property tax base has been restored. People’s wealth has been restored.

The
Impact

$ 0 M

in investments

to help restore the housing market in Milwaukee

$ 0 M

in value added

to Sherman Park properties

in the
news

Milwaukee Rising

Aug 18, 2020

CG Celebrates 12 Years Rehabbing Houses in Sherman Park