For Milwaukee resident Jeanette Torres, homeownership was a longstanding dream that has now been realized through the work of Milwaukee Community Land Trust, the City of Milwaukee and other partners.
MCLT has finished rehabilitating five affordable homes in partnership with One5Olive and the City of Milwaukee. MCLT, a nonprofit organization working to create affordable homeownership opportunities for low- and moderate-income families, gathered with partners to celebrate the achievement on Monday morning outside Torres’ newly-renovated home, which was completed as part of the city’s initiative.
At Monday’s event, MCLT welcomed Torres to her new home on the city’s south side. Torres choked up when speaking to media and others in attendance about her now-realized dream of homeownership.
“Becoming homeowners has brought about significant changes in our lives,” Torres said. “Initially we felt a mix of pride and nervousness. However, we are now able to provide our children with stable housing and a place for their future families. … Owning a home for the first time has invoked a range of powerful emotions. It is a significant achievement that brings us a feeling of pride, accomplishment and stability.”
The Homes MKE initiative aims to renovate 150 vacant foreclosed homes into affordable properties for Milwaukee residents. As of July 1, 40 houses have been renovated through Homes MKE and 30 more are under renovation, according to the City of Milwaukee website.
The City of Milwaukee’s website also lists 23 neighborhoods that will have homes renovated as part of the Homes MKE Initiative.
In 2021, the Common Council of the City of Milwaukee allocated $15 million in Federal American Rescue Plan Act funding to the Department of City Development for Homes MKE. The City of Milwaukee officially kicked off the Homes MKE initiative in April 2023. By January 2024, the first six homes had been renovated with two occupied by homeowners.
Milwaukee Mayor Cavalier Johnson said outside Torres’ house on Monday that “this is just really the start.”
“Affordable housing is more than just walls and roofs,” Johnson said. “It’s about dignity. It’s about security. It’s about giving families a chance to thrive and having a chance for neighborhoods in Milwaukee to be able to grow.”
Including the five homes renovated this year as part of the Homes MKE initiative, MCLT now has nine completed homes in its portfolio. MCLT is also partnering with nonprofit organization Milwaukee Habitat for Humanity for four new homes in the Lindsay Heights neighborhood.
“These homes are not just bricks and mortar,” MCLT executive director Lamont Davis said. “They are also places of pride, stability and generational opportunity for families who in many other cases would just remain renters.”
MCLT’s model allows individuals to own their own homes but lease the land from MCLT. The 99-year lease is renewable for an additional 99 years. The lease also includes resale protections to ensure the home remains affordable in the future.
“This shared equity model gives families a path to wealth building through equity and limited appreciation, while preserving affordability for the next buyer,” Davis said.
