Madison-based developers Brad and Mark Binkowski plan to transform the state-owned General Executive Facility 2 building into apartments and demolish the next door GEF 3 building to accommodate additional housing on a 2.5-acre site on South Webster Street, according to an article in the Wisconsin State Journal.
The state is prepared to accept the $12.65 million offer by the father-and-son team, whose plans are still being finalized.
They envision 300 to 400 apartments, some commercial space and a large open area between the buildings, the report said.
The Wisconsin Department of Administration put the two buildings up for sale as part of an Evers administration plan to consolidate state office spaces, in part because they have more than $200 million in combined deferred maintenance needs.
