A project that would convert the existing
Madison Area Technical College`s Downtown buildings into a hotel and
build a 10-story office building on the property received initial
approval by a state board Wednesday.
A state board has offered its initial
approval for Madison Area Technical College’s plan to lease its
Downtown campus for a $130 million private development.
The
Wisconsin Technical College System Board unanimously approved Wednesday
the concept to convert MATC’s Downtown Education Center into a hotel,
office building and retail space, bringing the proposal by Madison-based
Hovde Properties and hotel developer Drury Southwest closer to an
intended 2019 start date.
In
May, MATC’s Board of Trustees voted to begin negotiations with the
development team after it was selected from five finalists seeking to
develop the block just off Capitol Square.