A plan proposed by JDS Development to bring the headquarters of Exact Sciences downtown has received preliminary city approval, according to the Cap Times.
Madison’s finance committee approved a preliminary development agreement with JDS Development Monday evening, paving the way for JDS to take control of the two block Judge Doyle Square properties by September and begin construction by the end of the year on the proposed Exact Sciences facility, a hotel, and parking ramp.
Exact Sciences wants to occupy its new offices by July 2017, so the city’s negotiating team has pushed the proposal forward in lightning-quick fashion.
The focus of the development is on a 250,000 square foot corporate headquarters and research facility for Exact Sciences on one block, with an additional 107,000 square feet for possible expansion on the other block.
The hotel will feature 210–250 rooms, and a 600–stall public parking facility to replace the aging Government East ramp and a 650–stall private accessory parking facility to serve Exact Sciences and the new hotel would round out the project.
The City Council will take up the preliminary development agreement next week and, if approved, the negotiating team will develop a final development agreement and additional groundwork by Aug. 24.
