Dollar Days

In new Milwaukee initiative, only developers able to buy city-owned foreclosed properties

Development Eavesdrop Midwest
In new Milwaukee initiative, only developers able to buy city-owned foreclosed land. (Courtesy James Steakley/Wikimedia Commons)
In new Milwaukee initiative, only developers able to buy city-owned foreclosed land. (Courtesy James Steakley/Wikimedia Commons)

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Milwaukee residents were sorely disappointed at a packed City Hall meeting when they were told they could not partake in a program to buy city-owned foreclosed properties for $1. The Milwaukee Employment/Renovation Initiative (MERI) was set up to entice developers to buy and renovate vacant properties in the Sherman Park neighborhood, emphasis on developers. The initiative is only open to developers, which submitted to an RFQ in early January. Critics of the initiative say that they don’t believe developers buying large portions of the neighborhood will address pressing community issues.

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