With the city’s Plan Commission approving the construction of 4,600 dwelling units in 2020, Madison may be in the midst of its biggest apartment building boom in history, according to a report in The Capital Times.
City planner Colin Punt notes that recently, an increasing number of large proposals have come before the Plan Commission and other municipal bodies. For example, 602 units in the Galaxie and Lyric buildings, located between the 700 and 1000 blocks of East Washington Avenue, soon could be matched by other nearby projects in various stages of approval.
One reason for the surge is pandemic-related material cost increases. High density, large-scale projects make more financial sense for developers who face cost increases in land, materials, and labor.
