City of Milwaukee
Press Release

Property Values Climb Along The Hop Streetcar Route

Investment and New Construction Part of Downtown Growth

By - Oct 2nd, 2018 11:35 am
The Hop's first vehicle making its inaugural trip to the maintenance facility. Photo by Jeramey Jannene.

The Hop’s first vehicle making its inaugural trip to the maintenance facility. Photo by Jeramey Jannene.

Property values within one-quarter mile of The Hop streetcar route have climbed almost 28% since the streetcar was given the green light in 2015. The values along the route have grown at twice the rate of property value growth citywide.

Milwaukee Mayor Tom Barrett calls the Hop an important factor in the increase.

“Of course, The Hop is a transportation asset. At the same time, it is an economic development tool, and we are seeing new construction and significant investments around The Hop stations,” Mayor Barrett said.  “By adding to the economic strength of the center of Milwaukee, The Hop brings benefits throughout the city.”

Mayor Barrett shared the property value information at a news conference Tuesday where he was joined by developers and the head of the downtown business improvement district.

The Mayor spoke to reporters at the streetcar station at the corner of Broadway and Wells Street where multiple development projects are planned or underway. One of those projects, the new 25-story BMO Tower, is rising adjacent to the streetcar line.

According to information from the City Assessor, property values within one-quarter mile of the streetcar route rose from $3,090,271,332 to $3,952,429,882 since 2015. That’s a 27.9% increase.  Citywide, values went up from $24,412,067,899 to $27,682,655,024, or 13.4% during that same period.

The M-Line of The Hop is scheduled to begin service on November 2nd. During its first year of operation all rides are free thanks to presenting sponsor Potawatomi Hotel & Casino.

More about the Milwaukee Streetcar

For more project details, including the project timeline, financing, route and possible extensions, see our extensive past coverage.

Mentioned in This Press Release

People:

Recent Press Releases by Jeramey Jannene

Gov. Evers Announces $30 Million Investment in Alliant Energy Center Expansion

Gov. Evers Announces $30 Million Investment in Alliant Energy Center Expansion

Mar 6th, 2019 by

The funding will come through a non-state grant program that provides state bonding support for non-profit or local government projects that have a statewide public purpose.

Art and Flowers Combine at Milwaukee Art Museum’s Art in Bloom

Art and Flowers Combine at Milwaukee Art Museum’s Art in Bloom

Mar 5th, 2019 by

The Museum’s popular annual event returns April 11–14 with art-inspired floral arrangements, workshops, lectures, a fashion show and family-friendly activities.

Jeramey Jannene

Rep. Goyke Commemorates Patriot Day and National Day of Service and Remembrance 2013

Sep 11th, 2013 by

Statement from Evan Goyke (D-Milwaukee) on September 11th, 2013

Leave a Reply

You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.

Join now and cancel anytime.

If you are an existing member, sign-in to leave a comment.

Have questions? Need to report an error? Contact Us