The $26 Million Plan to Turn MKE Renters Into Homeowners

Houses in Bay View. Photo by Jeramey Jannene.

Acts Housing announced Wednesday that it has completed its first major capital campaign, raising $26.4 million to expand homeownership opportunities, combat predatory landlords and boost the supply of affordable housing in the city.

The funding will allow Acts to expand its lending and housing programs aimed at helping families with income, credit, language and other barriers to become homeowners.

“This was Acts Housing’s first large fundraising campaign, and its success will open the doors to homeownership for hundreds of additional families every single year,” said Michael Gosman, president and CEO of Acts Housing, in a statement. “Homeownership not only creates a foundation for a family, but at this scale will strengthen entire neighborhoods.”

The funding will significantly expand two key programs: an acquisition fund that buys and rehabilitates homes for sale to owner-occupants, and a mortgage lending fund that provides loans to buyers who cannot qualify for traditional financing.

More than $10 million from the campaign supports the Acts Homes acquisition fund, launched in 2022 to purchase houses that might otherwise be acquired by investors. The nonprofit partners with contractors to rehabilitate the properties before selling them to owner-occupants who have completed homebuyer counseling with Acts or another HUD-certified agency.

To date, Acts Homes has purchased and rehabilitated more than 100 houses in Milwaukee through the acquisition fund.

Another $14 million raised will expand Acts Lending, the nonprofit’s mortgage program launched in 2013. The additional capital is expected to help at least 1,000 more families become homeowners over the next decade.

The campaign drew contributions from a wide range of donors, including foundations, corporations, governments and individuals. Major supporters include the Zilber Family Foundation, which provided three grants totaling $2.75 million, and Milwaukee County, which contributed $2.5 million from its federal American Rescue Plan Act grant. Christine Symchych and James P. McNulty made a $2 million leadership donation.

The city of Milwaukee also contributed $1.25 million to the acquisition fund in 2022 from its Housing Trust Fund, which it funded with a federal grant.

Mayor Cavalier Johnson, who has declared 2026 the “Year of Housing,” praised the nonprofit’s work.

“All across City Hall we’re making housing a priority, and community partners like Acts Housing are essential to making homeownership possible,” Johnson said in a statement. “Everything, literally everything, begins at home. A safe, stable, affordable home is the foundation for our health, for our education, our jobs and our neighborhoods.”

The campaign concluded in December following a final push that included a $500,000 matching challenge from the National Exchange Bank Foundation.

More than 4,500 families have purchased homes with Acts’ support since its founding in 1995.

Participants in Acts’ programs have also reclaimed and rehabilitated more than 1,000 foreclosed properties. According to the organization, families who still own their homes have built more than $143 million in equity to date.

“When families have access to stable and affordable housing, children do better in school, local businesses grow and communities become safer and more connected,” Gosman said. “Its success reflected a shared belief that housing is foundational and shows that when our community comes together with a mutual cause, we can create lasting change.”