The existing 510-space State Street Campus Garage was built in 1964 and a 542-space addition was built at 430 N. Frances St. in 1982. This latter structure would remain and be connected to the new project.
“This is a unique opportunity to integrate an intercity bus hub into a new parking lot, as well as housing and other uses for the benefit of residents, university students and visitors,” said the mayor Satya Rhodes-Conway in a statement. “This site connects the university and downtown Madison. We are excited about the possibilities.
The redevelopment could be an anchor for a new State Street Graduated Tax Finance (TIF) district and provide an opportunity to create more lower-cost housing in the downtown area, officials said.
“It’s high time the city had an intercity bus hub again,” Ald said. Mike Verveer, 4th arrondissement, who represents the region. “There is a significant interest from developers for the creation of housing in this region. “
Ald. Juliana Bennett, 8th arrondissement, who also represents the area, said the redevelopment will serve students well. “More housing, more affordable housing and better intercity bus services are important to students,” she said.