MANHATTAN, N.Y. – Nov. 16, 2018 – PRLog — New York – November, 2018. Transit Innovations, LLC (Transit) announced today that it has engaged Castle Placement, LLC as its exclusive placement agent to raise capital for a commuter rail mass transit system (“E-Way”) using existing freight train tracks, and high-density real estate development for the greater Milwaukee, Wisconsin area, in partnership with Bombardier Transportation. Bombardier is the world’s leading manufacturer of trains and global mobility solutions provider. Transit is seeking +/-$1.456 billion of capital, and will use private funds for capital costs and operations. Approximately 70% of the capital will be used to develop the real estate around the stations.
Transit operates under two entities: Milwaukee Passenger Rail Company (MPRC; rail operations) and Transit Oriented Development, LLC (TOD; real estate activities). The real estate development adjacent to the stations will include market-rate housing, multifamily, retail, offices, training facilities, mixed-use, and manufacturing. It is estimated that 7,000 units of new multi-family housing and other real estate (retail, office, etc.) will be constructed.
E-Way will have 23 stations and platforms (two existing, 21 new-builds) along 55 miles of existing train tracks, bridges, crossings, and operations. The system will provide commuter connections, including last-mile connections from train stations to final destinations, for downtown Milwaukee, Menomonee Valley, Waukesha, New Berlin, Brookfield, Elm Grove, Wauwatosa, West Allis, Century City and the Airport. Future expansion of the system will be incremental, based on internal MPRC ridership projections for each added station.
E-Way will provide inter-modal connectivity with businesses, housing, medical, airport, education/university, markets/shops, zoos, sports, casinos and other entertainment venues. The system will provide multi-modal connectivity with systems such as bus, job center shuttles, streetcar, cabs and Uber, and bike systems which are being coordinated in partnership with station communities and private business.
Transit is led by an experienced and knowledgeable management team. Key team members include seasoned executives, sales and marketing professionals, political advisory and public relations, architecture and engineering, communications, rail employees, service and maintenance, legal, accounting, real estate brokerage, property management and project managers. Bombardier Transportation will be the rail operator, providing key services such as last-mile connection, ticketing, and carrier negotiations.
Milwaukee is the largest city in Wisconsin, the fifth largest city in the Midwestern U.S. and the 31st largest city in the US. The metro area lacks a comprehensive transportation solution, with no commuter rail or cohesive public transportation system to connect the public to their jobs or major events. E-Way is expected to have significant public benefits including reduced land use and highway congestion; economic development, job creation and connectivity with large job centers; reduced fuel consumption, automobile emissions and greenhouse gas emissions; transportation affordability;
The E-Way system is expected to provide an estimated economic impact of about $1.3 billion. 10,947 regional jobs are projected to be created over the next ten years. In addition, E-Way stations will generate property tax for station communities.
Founded in 2009, Castle Placement raises equity and debt capital for private middle market companies across a broad spectrum of industries. Highly experienced investment bankers and a robust, data-driven, innovative technology platform – including artificial intelligence/
Contact: Richard Luftig. (212) 418-1181. firstname.lastname@example.org.