The city is on the verge of launching plans to redevelop the former Don Miller properties on East Washington Avenue, hoping to bring new life and commerce to a youth-dominated area.
Mayor Paul Soglin said the city is negotiating potential deals with developers to build commercial and residential properties on the 700 and 800 blocks of East Washington Avenue.
Ald. Marsha Rummel, District 6, said alders and community leaders have reviewed project proposals and selected three developers from a larger group. The selected developers are Gebhardt Development, The Rifkin Group and Urban Land Interests.
The three companies are now beginning to design and pitch project ideas, Soglin said.
Gebhardt Development is the furthest along, Rummel said, with designs for an apartment complex with first-floor offices in the works.
The building’s current design exceeds the city’s 10-story limit, but Ald. Bridget Maniaci, District 2, introduced a proposal to allow Gebhardt to exceed this and build up to 12 stories.
Assuming the project is approved, Rummel said work could begin “sooner rather than later,” possibly as early as 2012.
Marty Rifken of The Rifkin Group has showed preliminary ideas for an office building on the 700 block, Rummel said. He has opened communication with local nonprofit organizations in hopes of attracting them as future tenants.
The final proposal is from Urban Land Interests, Rummel said, which includes plans for construction of residential and office buildings followed by a parking structure and a second, three-story office building.
“I’m disappointed that the office building is only up to three stories high,” Rummel said. “In current economic conditions we’re seeing developers being very cautious – they have interested tenants but not enough to build taller buildings.”
Soglin said the city has a vested interest in the project because of a $5.8 million investment in the land made by former Mayor Dave Cieslewicz.
He added that one of the city’s main goals is to make up for that initial investment.
“It is our hope that we will be able to get the money back by selling the land to developers at the same price,” he said.
Rummel said she expects the city will become further involved when developers apply for tax incremental financing to help fund their projects in the near future.
Maniaci said developing the area could be a catalyst for significant economic and cultural growth in Madison.
“We have the potential to propel ourselves forward out of traditional manufacturing and into exciting tech based careers,” she said. “We’re looking at a lot of emerging industries in the technological field and in research.”
She said adding exciting jobs and residential buildings will attract young people and build up the community.
Maniaci said the development is what the city needs to grow over the next two decades and improve its tax base. In tight financial times, she said the possibility of expansion is a huge opportunity.
“This area will attract a vibrant and creative group of residents that are young,” she said. “They’re working on building their careers and dreams, and I’m hoping we’re able to harness that fantastic energy.”