Commuter Rail Coming to Southeast Wisconsin?

Here’s an interesting idea.

A New York capital raising firm is helping a Wisconsin company attempt to raise more than $1.4 billion to support a private commuter rail project in metro Milwaukee along with related real estate development.

The project by Transit Innovations LLC would use existing freight lines to create the commuter system, called E-Way. The company says it would build 21 new stations and use two existing ones along 55 miles of track across Milwaukee and Waukesha counties.

[…]

Most of the capital, around 70 percent, would actually be used for real estate developments near the stations. Transit Innovations says developments would include market-rate housing, multifamily, retail, office, training facilities, mixed-use and manufacturing. The group estimates 7,000 units of new multi-family housing would be constructed.

Transit Innovations, which was created in 2017 and is registered to a Brookfield address, is working with New York based Castle Placement LLC to raise the funds. An investor presentation estimates $571 million will come from real estate investors, $300 million from rail investors, $35 million from partners and local private equity and $550 million from a construction loan.

I don’t know if it’s viable, but at least if it fails, it’s not my tax dollars being thrown down the tracks.