OWNS program aims to bring rental properties to local owners
In response to an increase of out-of-state investors purchasing properties for rental purposes in Milwaukee, the City has created the OWNS program to support local investors. OWNS (Ownership, Wealth, Neighborhood Stabilization) is an initiative meant to boost local ownership of rental properties and to build generational wealth in Milwaukee communities. The program looks to incentivize existing homeowners to buy City of Milwaukee owned properties, for rental purposes, in their neighborhood with the belief that local owner investors will be more accountable and attentive to an investment property near their owner-occupied residence.
The OWNS program, which launched May 1, allows local investor-buyers to purchase City properties during the extended owner occupancy period after the bid opening. This means OWNS buyers are eligible to buy on days 31-60 of the property listing. Local investor-buyers must live and own their residence within 500′ of the property. Additional details and program requirements can be found by visiting www.Milwaukee.gov/OWNS.
Recent Press Releases by Mayor Cavalier Johnson
Kruschke, who has worked in city government since 2007, has served as interim Commissioner for the past several months.