ACTS Housing Fund buys and sells at least 100 Milwaukee homes

Dorothy York, vice president of real estate for ACTS Housing, is pictured in front of a home on West Chambers Street that was purchased and renovated through ACTS Housing.  York leads a team to buy homes with money from the Home Owner Acquisition Fund.

As out-of-state investors continue to invest in properties, ACTS Housing is setting up a homeowner’s fund to buy Milwaukee homes and sell them to city residents at affordable prices.

The fund, which the group hopes will eventually raise $11 million, plans to buy at least 100 homes by 2023 and resell them to private buyers.

President and CEO Michael Gosman said the fund will help the nonprofit achieve its mission of increasing homeownership rates in Milwaukee, particularly among black and Hispanic residents.

“If we’re going to provide families with great home ownership opportunities, we need to make sure there’s inventory that meets their needs,” Gossman said.

The goal is to erode the dominance of Milwaukee’s housing market by large investors.

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