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Milwaukee property values are increasing because of 'The Hop'

Posted at 6:57 PM, Oct 02, 2018
and last updated 2018-10-02 19:57:15-04

The Hop is not only connecting people to places across the city, it also might put more money in some people's pockets.

Officials announcing Tuesday that property values along the streetcar route could be headed in the right direction. City leaders say this will only make our city more competitive.

"This is happening because people recognize the value of fixed transit of making sure we have a city that's invested in the future," said Milwaukee Mayor Tom Barrett.

According to the city assessor,  property values within a quarter mile of the streetcar have gone up 28 percent since 2015.

In comparison, property values have averaged a 13 and a half percent increase across the entire city during that timeframe.

"Milwaukee is on the map and we are just starting to take off," said Beth Weirick with the Downtown Business Improvement District #21.

Some of the city's real estate developers who helped build along the route are envisioning even more growth in the future.

"New hotels, new apartments, new buildings, a new downtown arena and so much more," said Mark Irgens.

Although this is great news there was another request from developer Joshua Jeffers

"My only request is that we not wait another 7 years to extend this thing now," he said.