The Southeastern Wisconsin Common Ground group gathered at North 44th Street on Thursday morning to protest the desire of Milwaukee Bucks co-owner Wes Edens, along with co-owner Marc Lasry, to receive public funds for a new multi-use arena in Downtown Milwaukee.
According to Common Ground, the property on North 44th Street is "one of 300 foreclosed properties controlled by Nationstar Mortgage," of which Edens owns the majority of the stock and is Chairman of the Board.
Common Ground says it inspected all 300 Nationstar properties in Milwaukee and in a press release issued Thursday said it is "determined to prevent a taxpayer subsidy for a new arena without a significant investment in neighborhoods."
Nationstar chief executive officer Jay Bray addressed Common Ground and its lead organizer, Keisha Krumm, in a letter on Wednesday.
Bray wrote: "It’s come to our understanding that despite the significant progress conversations between Common Ground and Nationstar were beginning to yield, your organization has determined not to move forward on several action items. We’ve attempted to be as accommodating as possible and are hopeful that you’ll reconsider your decision so that we can continue to work together for the betterment of the Milwaukee community."
Bray referenced meetings between the company and the group in early December, noting that the Common Ground asked for four properties in the Sherman Park area to be donated to the group, or which Bray wrote Nationstar agreed to three. Nationstar also said it would "contribute $15,000 per donated property for rehab and repair."
Bray continued that "since the meeting occurred, we have gone back and forth on how to move forward together and your organization has indicated that you’re no longer wiling to proceed with the donated properties. We understand that your organization has a larger objective in mind, much of which is outside the purview of Nationstar."
Bray wrote that Nationstar will now put the properties up for sale.
On Thursday, Common Ground called to meet with Edens specifically to talk to him about the distressed properties.
Common Ground's Fair Play co-chair Lloyd Johnson said in a statement that because the company is not paying taxes on the properties, "You and I are paying more taxes because Wes Edens is not taking care of this property. It means that our tax money that could go to other services in our city is going to deal with houses like this."
In a statement, Common Ground co-chair Jennifer O'Hear said, "We will not stop until Mr. Edens addresses his interests in neighborhoods with the same energy and intensity he gives his interests in a new Bucks arena."
