Madison residents could see a new transit center in the downtown area after a local company outlined its plan for a development that also would include student housing in a meeting Monday.

Ald. Mike Verveer, District 4, presented the Boldt Company’s proposal for an “intramural transit center,” which would be located on Bedford Street, at a meeting of the Bassett Neighborhood Association.

Verveer said the company hopes the center will be up and running by summer 2015 to be available for students returning for the fall semester.

He added although the university has been supportive of the project, it will not formally participate in the development.

Two representatives from J.H. Findorff and Sons, Inc. also detailed their additional plans for expanding an existing building at 738 Lolliard Ct.

Findorff Vice President Mike Dillis and architect Doug Hursh said the company’s aims for the building include adding additional underground parking to the structure.

Hursh said the company plans to establish a new building next door which would have capacity for about 92 units of residential housing. Hursh also showed projected images of sketches and design plans, which will be submitted to the city Jan. 8.

In the neighborhood crime update, Verveer said there has been a positive change in terms of crime activity in the neighborhood.

“The most exciting new is that the police are convinced the individuals that were responsible for the campus area crime wave this semester have now either been apprehended or are close to being apprehended,” he said.

Verveer said this is likely in part to increased video surveillance along West Mifflin Street as well as West Washington Street.