Commuter rail system and real estate development
For important risk and disclaimer information, Click Here.
Click to view Investor Presentation and/or Schedule Management Call.
To Access DataRoom, click Download NDA.
Overview
Transit Innovations, LLC (“Transit”) is developing a real estate and rail project in Milwaukee, Wisconsin major metro area
Phase 1: +/- $322 million real estate and commuter rail project
- Pending necessary approvals, targeted by July 2020 Democratic National Convention
- Four stations along 16 miles of Canadian Pacific existing freight track
- Properties are located in Opportunity Zones
Entire Project: +/- $1.49 billion real estate and commuter rail project
- 24 stations (2 existing) along 58 miles of Canadian Pacific and Union Pacific existing freight rail, bridges, crossings and operations
Project is well-advanced:
- Investors can participate in the real estate, rail or both
- Transit has secured community and business support from local / state governments; operational and development plans in place; and properties have been identified for stations and adjacent real estate developments
- Privately funded, possibly in conjunction with public funding, such as tax credits, Tax Incremental Financing (TIDS), grants and loans
Opportunity
Milwaukee is the largest city in Wisconsin, the fifth largest city in the Midwestern U.S. and the 31st largest city in the US
- Milwaukee lacks a comprehensive transportation solution – no commuter rail or cohesive public transportation system to connect the public to their jobs or major events
- Strong demand for housing, office, retail, and hotels near commuter rail stations
- Significant public benefits
- Reduced land use and reduced highway congestion
- Economic development, job creation and connectivity with large job centers, universities, hospitals and events
- Reduced fuel consumption, reduced automobile emissions and greenhouse gas emissions
- Transportation affordability
- Promotes “Smart City” principles and development guidelines
Solution/Strategy
- Transit, along with Bombardier Transportation as the rail operator, is developing E-Way, an innovative commuter rail transit system and adjacent real estate development for the greater Milwaukee area
- Approximately 70% of capital will be used to develop the real estate surrounding the stations – significant demand for transit oriented development (multifamily, office, hotel and retail)
- Supported by state and local governments, business communities and advocacy groups to create new jobs in the Milwaukee area
- Favorable political climate – Republicans and Democrats aligned in support of the project
- Bombardier Transportation will be the rail operator, providing key services such as Last-Mile connection, ticketing, carrier negotiations and rail operations consulting
- Negotiations with Canadian Pacific and Union Pacific rail carriers to lease their tracks
Solution/Strategy
- Transit, along with Bombardier Transportation as the rail operator, is developing E-Way, an innovative commuter rail transit system and adjacent real estate development for the greater Milwaukee area
- Approximately 70% of capital will be used to develop the real estate surrounding the stations – significant demand for transit oriented development (multifamily, office, hotel and retail)
- Supported by state and local governments, business communities and advocacy groups to create new jobs in the Milwaukee area
- Favorable political climate – Republicans and Democrats aligned in support of the project
- Bombardier Transportation will be the rail operator, providing key services such as Last-Mile connection, ticketing, carrier negotiations and rail operations consulting
- Negotiations with Canadian Pacific and Union Pacific rail carriers to lease their tracks
Management
Brian Kliesmet
CEO
34 years of experience in master planning and real estate development throughout the country. Executed both strategic economic development plans and public/private partnerships as a consultant to developers and cities. As a private developer, built over $100 million of mixed-use and hotel developments throughout Wisconsin. Specifically, his work in both the private and public sectors in downtown Milwaukee equipped him to lead the MPRC Team as CEO. As company founder, led project coordination with WiDOT, Southeastern Wisconsin Regional Planning Commission, all Station Community Mayors and Plan Commissions, and Union and Canadian Pacific Railroads to achieve consensus to implement this project. Led negotiations with WHEDA, has begun early positioning for TOD to acquire all station real estate while negotiating favorable Tax Increment Financing Districts and access to New Market Tax Credits with station communities. Working closely with community banks, private investors and other State and Federal agencies, such as DNR, MMSD, FTA, FRA in preparation of launching the project.
Greg Dugan
President
40 years of experience helping businesses both large and small to develop their sales, marketing and operations. Partner in a private capital firm and founding member of the CEO OPEN Forum with the Waukesha Business Alliance, is a founding member of WESA, Inc. a world-wide power and water marketing, engineering and construction consortium. Founding member of WEB International, a private equity firm specializing in the funding and coordination of infrastructure projects specifically in the areas of transportation, renewable energy, water desalination and power distribution. Brings solid financial investors to the project and manages risk reduction and monitors the increase for future financial success. Management/operational philosophy covers a solid strategy to succeed while overseeing operational plans, contingency planning, and doing right by the investor and success of the project.
