Local nonprofits launch initiative to address racial disparities in Milwaukee real estate development

MILWAUKEE (CBS 58) -- Three local nonprofit organizations will be working together to take some steps toward addressing racial disparities in Milwaukee. 

They've announced $650,000 will be put towards the empowerment of minority-led development teams. 

Wednesday morning, leadership from the Community Development Alliance, 30th Street Industrial Corridor Corp. (The Corridor), Northwest Side Community Development Corporation, and members of the Emerging Developer Roundtable shared their goals to expand access to affordable housing and address issues around Milwaukee's racial inequality.

"Milwaukee needs more affordable housing, but there aren't enough builders and developers to fill that need," said Cheryl Blue, executive director of The Corridor. "This initiative is aimed at increasing the number of Black and Hispanic builders and entrepreneurs who are starting out and want to meet that need for affordable homes."

Applications for this program will be available on Oct. 1. 

The plan is to focus on smaller residential homes that will keep the size of each building from this program between one unit and four units.