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.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.

More about the Milwaukee Streetcar

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

Read more about Milwaukee Streetcar here

Mentioned in This Press Release

People:

Recent Press Releases by City of Milwaukee

Drive-Thru Job Fairs Bringing Opportunity to the Community

Northside and Southside events take place next Thursday (August 18, 2022) from noon to 4 p.m.

City of Milwaukee

Fondy Farmers Market Opens for the Season Saturday

The market will start small in the Early Season and then will expand its hours later in the season as more produce becomes available.

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