The Green Bay Packers are expanding their presence into the community around their Lambeau Field with plans to bring new housing units to the area.
According to a Bloomberg report
, the Packers’ organization is planning to construct more than 200 homes one block from their stadium. The new residences, which could consist of 90 homes for sale and 150 rentals and 90 for sale, is the second phase of the mixed-use Titletown development that has already seen the construction of a hotel, brewpub, sports medicine center and a tech innovation lab created as a joint venture with Microsoft Corp.
The Green Bay market is the smallest metro area within U.S. professional sports, with a population of roughly 300,000. The median price for an existing single-family home in this area was during the second quarter was $181,800 while the average rental costs about $900 a month.
“We want to make sure Green Bay can have a strong enough economy to have an NFL team,” said Mark Murphy, CEO of Green Bay Packers Inc. “If we can do things to make Green Bay more attractive, not just to visitors, but make more people want to come and work in Green Bay, we’d consider that a success.”