A
commercial real estate training program in Milwaukee has made significant strides in reducing racial disparities in the industry since its inception in 2004. The Associates in Commercial Real Estate (ACRE) program provides a 26-week course that combines classroom instruction, project-based learning, and industry networking to train professionals for new careers in real estate development, investing, or property management.

    A recent report by the Wisconsin Policy Forum found that ACRE has had a positive impact on its graduates, with 80% currently working in real estate. However, the survey of over one-sixth of program alumni revealed opportunities for improvement, including more support during and after completing the program. Many respondents suggested expanding mentorship from experienced ACRE graduates and industry professionals to provide additional guidance.

    Graduates have gone on to become prominent figures in Milwaukee's real estate scene, including Department of City Development Commissioner Lafayette Crump and Alderwoman Milele A. Coggs. The report also highlighted the need for more post-graduation opportunities, such as internships, apprenticeships, and access to capital for development projects.

    The program is administered by LISC Milwaukee with support from Marquette University, Milwaukee School of Engineering, and UW-Milwaukee. Participants pay a $300 entrance fee, with administrative costs running at approximately $150,000 annually. The report was commissioned by the Zilber Family Foundation, Mandel Group, and Bader Philanthropies, with LISC Milwaukee providing additional support.

    While ACRE has made significant progress in reducing racial disparities in real estate, its reliance on training individuals to use low-income housing tax credits is a concern. The program's alumni have expressed a desire for more continuing education and networking opportunities to help them build on their knowledge and stay connected within the industry.