Another housing developer is moving forward with plans to build apartments on land once occupied by the former Oscar Mayer plant, according to the Wisconsin State Journal.
Indiana-based developer The Annex Group would replace a parking lot, small house and tavern at the intersection of Packers and Commercial avenues with a five-story building offering roughly 241 lower-cost units.
The project would be The Annex Group’s first in Madison.
Preliminary plans include a nearly $85 million building with around 6,000 square feet of retail space that could potentially be used by a community service provider. It would also house amenities such as community areas, a dog run and a playground.
The facility’s residential portion would wrap around an above-ground parking structure with more than 250 parking spaces. There would be about 99 one-bedroom units, 93 two-bedroom units and 49 three-bedroom units — all available to households earning less than the area median income.
The average unit would be capped at 60% of the area median income, which in Dane County is $90,000 for an individual and $129,800 for a family of four.
The Annex Group reportedly applied for housing tax credits from the Wisconsin Housing and Economic Development Authority (WHEDA) in May, and it is set to present its plans to the Urban Design Commission later this month before proceeding with the city’s public-facing review process.
Construction could start as early as mid-2026 and be finished by mid-2028.
