Pyramax Bank partners with Milwaukee on Harambee mortgage initiative

Freeman Staff

July 6, 2017

GREENFIELD —PyraMax Bank is committing $1 million to help fund the purchase and rehabilitation of houses in Milwaukee’s Harambee neighborhood.

The funds will be available as part of portfolio mortgage money to fund purchase and purchase rehab transactions in the Harambee neighborhood.

PyraMax Bank CEO Richard Hurd will join and Milwaukee Mayor Tom Barrett to formally announced the initiative on Tuesday at the home of the program’s first Harambee homebuyers, the Noth and Graves families, located at 2659 N. First St. Partnerships with ACTS Housing, MGIC, Take Root Milwaukee, and Riverworks have all been instrumental in contributing to this housing initiative.

The Harambee neighborhood has struggled with economic downturns.