Madison College and hotel developer Drury Southwest are renegotiating the lease on the college’s downtown property at 211 N. Carroll St., according to a Wisconsin State Journal report. The site, located one block from the Capitol Square, was to be redeveloped into a 200-room hotel by Drury Southwest. Construction began in 2019 but was halted last year because of the COVID-19 pandemic. Madison College officials had spent the past year renegotiating the agreement with Drury without success until both parties entered into mediation. The Madison College board has approved the amended terms giving Drury the option to find someone else to continue the project, delay construction until no later than July 1, 2027, or pay a $3 million termination fee. The terms also give Madison College the option to end the agreement if it finds another tenant before July 1, 2027.
Related story: Madison College tries to get answers about stalled hotel project
