A new project slated for the corner of State and Frances Streets could change the face of the area, replacing several local businesses with a 12-story apartment building, retail space and a parking lot.
The proposal includes above-ground parking spaces and a number of offices. According to Ald. Mike Verveer, District 4, the new project would replace all the businesses on the State Street area from Jimmy John’s down to Roast Bar and Grille, including the University Inn.
Mary Carbine, executive director at Madison’s Central Business Improvement, said both the Mullins Group and Core Campus of Chicago came up with the proposal. She said she is unsure about the budget of the project, but supports the plan.
“The project will be very beneficial to the city,” she said. “It will bring about more people working and living in the area.”
Carbine said the parcels of land are underutilized and the surface parking lot that current occupies part of the space is not the best use of space in a dense, downtown environment.
She said the project would bring more people to State Street to live and work. She said the project would also create a modern space for retail and be a better overall use of space.
Ald. Mike Verveer, District 4, said the University Inn and adjacent parking lot are the most underutilized downtown property.
“Overall, I think it is an excellent idea conceptually,” Verveer said.
He said the project proposed demolishing several buildings, one of which is a student rental property on North Frances Street.
Verveer said this project is a huge proposal for the downtown area. He said his only concern was for the businesses that may be displaced by the project.
“I am pleased that this prime piece of downtown real estate will finally be developed,” Verveer said.
He said he hopes current businesses would be incorporated in the project or would find an alternate suitable downtown location for their business. Many of the businesses have been around for decades, he added.
Along with Jimmy John’s and Roast, Husnus and Kabul would also be impacted.
Verveer said he has spoken to some of the businesses that are in jeopardy of being dislocated and added he would work with the developer and the business owners to weigh potential spaces for relocation.
“I hope those businesses are able to find new suitable location downtown and that none of them choose to go out of business,” Verveer said.
He said many of the businesses in the development’s footprint are small, local businesses. He added Porta Bella is not in jeopardy of being part of the reconstruction.
The development has not yet appeared in front of any city committee, but the developers will talk with the neighborhood and the businesses that could be displaced about future plans for relocation. The project could potentially begin construction as soon as 2014.