Madison developer JD McCormick Properties is proposing an around $40 million, 12-story housing and commercial project, including condominiums, over a large area of the 100 block of State Street, according to the Wisconsin State Journal. The space has been largely empty since the mid-2010s.
The proposal would redevelop five buildings from 118–132 State St. that were previously vacated by other owners in anticipation of the construction of a nine-story boutique hotel — which ultimately stalled with 2019’s financial challenges.
JD McCormick acquired buildings from 122–132 State St. in 2022 and is negotiating to buy 118 State St. The development team made a presentation on Thursday evening to the Mansion Hill District of Capitol Neighborhoods Inc.
Under preliminary plans, a new building would have four stories facing State Street with a rooftop deck and step back from the street to rise to 12 stories mid-block and on its frontages on North Carroll and West Dayton streets. City plans and zoning currently allow four stories along State Street and six stories at the rest of the site, with the possibility of two added stories under certain circumstances, but the developer could seek a zoning change.
The first floor of the structure would include 6,927 square feet of commercial space, an exercise room, and a lobby. Above, it would feature 10 studios, 15 one-bedroom, 30 two-bedroom, and nine three-bedroom units. A preferred option would make the second–fourth floors apartments and the fifth–12th floors condominiums; another option makes all units apartments.
If approvals are secured, JD McCormick would aim to start construction in mid-2025 and complete the project in 18 months. The developer is also pursuing a six-story redevelopment of the 400 block of State Street.
