Will Wisconsin’s Titletown Development Lure New Buyers to Green Bay?



titletown.com



After the development of a craft brewery, medical center, boutique hotel, entertainment options (from a sledding hill to outdoor yoga), and an ice skating rink, housing was a natural progression for the planned 45-acre Titletown district in Ashwaubenon, a village adjacent to Green Bay, WI.

The Green Bay Packers have kicked in $65 million for Titletown’s $130 million total cost, and the development is right across the street from Lambeau Field, the team’s home field.

With all the amenities on offer, it figures folks would want to live in the shadow of Lambeau.

“The community,” says Daniel Glimcher of Glimcher Capital Group, “has events going on 365 days a year. This fills a need that hasn’t been served in that market.”

In addition to Packers games, weddings, stadium tours, concerts, and other events are held here, making the area a year-round destination.

Titletown debuted in late 2017. Construction on the residential component is expected to begin in the spring, with occupancy scheduled for summer 2020. There will be 150 apartments, ranging from studios to three-bedroom units. About 70 and 90 townhouses will offer three different floor plans.

“You’re going to see a pretty broad mix in terms of price points,” says Glimcher. Plans show the use of industrial brick and steel, and earth-inspired hues. Monthly rents and starting prices for the homes will be announced later this year.

“Our goal was to have some place for everyone … [and] to attract young professionals,” says Green Bay Packers COO Ed Policy.

Titletown is surrounded by modest 1970s ranch homes in a quiet neighborhood 4 miles from downtown Green Bay. The arrival of the large development could have meant a seismic shift to day-to-day living for folks who live nearby. Instead, the community has embraced it. When he revealed the architect’s housing designs at a village meeting earlier this month, Frank Sasso of Kaufman Development heard gasps from the audience—they loved it.

Rendering of Titletown in Ashwaubenon, WI

Titletown.com


Rendering of Titletown

Titletown.com


While game days bring in a huge influx of fans, about 400 to 450 people work at Lambeau Field during the week and an additional 400 employees (in various industries) will soon work at an office tower that’s now under construction.

Who might be willing to move in? Sasso has seen a diverse group enjoying Titletown thus far, including 150 people for an outdoor yoga class.

He believes recent college grads, empty nesters, and second-home buyers—including season ticket holders—will spring for the chance to live in the new housing. Like many communities, Green Bay grapples with “brain drain,” when college grads pursue jobs in other cities. Sasso says Titletown could quash that.

“We’ve had inquiries from as far as Western Australia,” says Glimcher.

Badger State expats around the country are also intrigued.

“We have seen interest from retirees to Arizona and Florida who really want to keep a footprint in Wisconsin,” says Policy.

Titletown isn’t the first sports-adjacent development. Others have popped up in cities, including Columbus, OH; Atlanta; and near Gillette Stadium in the Boston area.

“This is becoming quite a trend,” says Glimcher.

But what makes Titletown different is that it’s free and open to the community, with minimal fees for activities like ice skating.

“This is flipping that model (cost-based businesses) on its head,” says Sasso. “How can we create an amenity and a catalyst for the Fox Valley region and not just add bars and restaurants?”

For communities wanting to develop housing next to a stadium, Glimcher has some advice: “Key to these developments is to start out with a master plan. Think about how they all fit together holistically. The Packers spent a lot of time thinking about this before they put the first shovel in the ground.”

“The NFL brand in most markets is year-round,” says Policy. It’s about “finding ways to leverage that brand into year-round revenue streams.”

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Source: Housing Trends Feed