NEWS
Downtown growth continues
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Also by Heather Quitos:
- In-Depth: Spending money to make money (April 26, 2007)
- J-Cheezy, UW kick off challenge (April 20, 2007)
- In-Depth: Looking inside UW's closet (April 12, 2007)
- Recruiters face diversity issue (March 26, 2007)
- Tag-team academics (March 14, 2007)
Related Stories:
- Luxury developments surround campus (October 1, 2004)
- Project raises city eyebrows (December 1, 2006)
- High-rise housing complex plan unveiled (February 2, 2004)
- Downtown developments target students (November 13, 2002)
- Capitol West to see changes (October 13, 2004)
by Heather Quitos
Thursday, January 26, 2006
Madisonians living downtown will see another development emerge within the next year. The city's newest downtown establishment will be Capitol West, a mixed-use housing complex.
Overseen by Madison-based firm the Alexander Company, Capitol West will take up one city block along the West Washington Avenue and South Henry Street intersection.
The development will have a ten-story condominium building on West Washington Avenue, three areas for townhouses along South Henry Street and a development for lofts by Broom Street.
According to Sean Boyce, Alexander Company director of marketing, the development differs because it features various types of architecture.
"As an open neighborhood there are several different types," he said. "It's not just a single building, it's a collection."
Designed by five different architectural firms from Madison, Milwaukee, and Seattle, the different types of units are made to appeal to people of different lifestyles, Boyce said.
"Town homes are built for folks that like to garden, flats for people who don't want to work with stairs, and the tower for more active people who do enjoy stairs," he said.
According to Boyce, units will range from $300,000 to $900,000, and 15 to 20 percent of the units have been sold. Patrons buying the new units are primarily those who have returned to Madison for either employment or education, he added.
Even with the amount of construction downtown, Boyce said Capitol West's sales will not be greatly affected by Metropolitan Place Luxury Condominiums located nearby on West Washington Avenue.
"[Metropolitan Place has] a different product," he said. "They have a typical condominium tower … that caters to an older demographic."
Keller Williams realtor for Metropolitan Place Jim Walker agreed with Boyce, and added most of the units should be sold before Capitol West opens.
"Downtown Madison is revitalizing so fast that there will be enough room for everyone," Walker said. "The downtown has enough demand that both projects will be successful."
Walker also added any competition between the two housing developments will not necessarily be a "bad thing."
"Everything has competition; people are going to shop and compare value, quality and location," he said.
Metropolitan place has sold out all units in its West Washington tower, and has sold more than half of its 164 available units — which range from $150,000 to $1.2 million — in its Mifflin tower, which is still under construction.
According to Walker, the downtown location of the two complexes greatly increases the value of each unit.
As construction continues on both complexes, Madison Environmental Group President Sonya Newenhouse applauded the construction techniques employed at Capitol West.
The group provided consultation on recycling and energy conservation for developers.
"I was just thrilled that there was a developer that had the foresight to contact us," Newenhouse said.
Newenhouse added Madison Environmental Group provided deconstructing and construction materials. The company has already recycled 56 tons of material from the deconstruction process, she added.
"It's very unique that we're recycling so much, including ceiling tiles, cabinets and doors," she said.
