Local developer Wiseman Capital is set to move forward with an adaptive reuse project that will convert a Super 8 motel into apartments on Madison’s east side, The Capital Times reports. The news comes despite the increased costs of abiding by the state’s electric meter policy.
State law requires an electric meter for each apartment unit. Hotels are not subject to the policy, and in the current Super 8 at 4765 Hayes Road, rooms are wired to a shared electric meter.
Wiseman Capital, based in Madison, previously asked Wisconsin PSC utility regulators for a waiver to the individual meter requirement, given the high estimated costs for labor and construction — in addition to those for deploying energy efficient measures like electric heat pumps and rooftop solar arrays. After another developer was denied a similar request for another property, however, Wiseman Capital stopped pursuing the waiver.
The new apartment complex will be called Sandburg Studios. It will include 129 studio units. The property sale closes in May, and construction will begin immediately, with estimated move-in starting in early 2025. The increased project costs associated with rewiring the property to support individual electric meters for each apartment raised monthly rent for future tenants from $1,050 to $1,075.
