"Pulling together for the same goal:" Milwaukee, PyraMax Bank commit $1M to Harambee neighborhood

MILWAUKEE -- The City of Milwaukee and PyraMax Bank made a commitment on Tuesday, July 11th to the city's Harambee neighborhood.

Officials held a news conference to announce the bank’s $1,000,000 commitment of portfolio mortgage money to fund purchase and purchase rehab transactions in the neighborhood.

"It's important to note that this kind of project is only successful when you take for-profit, non-profit and governmental entities pulling together for the same goal," said Gary White, senior mortgage loan officer of PyraMax Bank.

"I think this neighborhood in particular has some natural advantages. You can see by the homes along the block here -- many of the homes are over 100 years old. This is a neighborhood whose roots are very, very deep," said Milwaukee Mayor Tom Barrett. "The trees, themselves, are mature trees. Again, you've got deep roots. By having these deep roots, you're able to weather a storm -- no matter if it's an economic storm or any type of storm whatsoever."

Partnerships with ACTS Housing, MGIC, Take Root Milwaukee, and Riverworks have all been instrumental in contributing to this housing initiative.

PyraMax Bank is holding a workshop on Saturday, July 15th at their Third Ward Office (318 N. Water St. in Milwaukee). You can learn about home ownership opportunities in the heart of Milwaukee including loan options, potential financial assistance and vital home-buyer education. You can even take the first steps toward getting bank pre-approval. Registration is required for attending this workshop. If you're interested, call 414-727-0015.