The value of properties across Milwaukee, Wisconsin are on the rise and the silver lining here is that this trend is being reported in all of the city’s 15 districts. According to an April 21, 2018 article from the Milwaukee Journal Sentinel, the average home in the city is now worth an impressive $108,933 and in the words of the city’s mayor, “We’re fighting back.” Rising home values typically translates to a better quality of life and more people wanting to relocate to be in a safe and healthy environment. Those newcomer residents will also need a robust employment sector nearby to apply to, which will in turn keep Milwaukee’s economic engine chugging along, and a downtrending unemployment rate should help with that.
This is the future that’s taking shape in Milwaukee and such a “bullish” outlook is shared by the CEO and manager of Irgens Partners, Mark F. Irgens. In a recent piece from the Journal Sentinel, the company’s leader noted that the company’s on-going construction of the BMO Harris Bank tower is located near streetcar tracks along Broadway. After jobs, a public transportation system that’s capable of carting workers from the city center to their surrounding homes must be in place to keep up the momentum. Irgens Milwaukee knows that the BMO Tower, a 25-story office complex with a projected completion date of late 2019, will offer the real estate for companies to call home and hire locally. Moreover, the head of Irgens Partners would also love to see streetcar ridership take off and, as a result, further increase property values.
According to the American Public Transportation Association (APTA), there are more than 6,800 entities across the U.S. that provide public transportation. What’s more, statistics show that “people board public transportation 35 million times each weekday” and “public transportation is a $68 billion industry that employs nearly 420,000 people,” according to the APTA. From the perspective of Irgens, a streetcar running down Broadway is the definition of what effective and useful urban transportation should look like. Given the proximity to the Milwaukee River, Irgens Partners also feels that a streetcar could also serve tourism purposes. However, Irgens Partners is first and foremost dedicated to improving properties that serve the local residents of Milwaukee. This is evidenced through previous projects completed by Irgens Milwaukee, which includes the mixed-use ASQ Center that has helped propel downtown resurgence.