The City of Madison introduced a resolution this week to purchase a 24,000-square foot Grocery Condo within the larger Truman Olson Development, at 1402 South Park St., for $4.6 million, according to a release from the City of Madison. The funding commitment would serve as bridge financing for the financial closing timeline requirement of developers of the project, Rule Enterprises and Movin’ Out Inc. The space will house a full-service grocery store that will replace the aging Pick ‘n’ Save building located at 1312 South Park St. This approach will allow the development project to move forward on the timeline, mitigating a potential grocery gap while also ensuring the construction of 150 units of affordable housing in South Madison.
Related Story: City approves housing, grocery store on south side
