Two big apartment buildings proposed near Kohl Center, UW campus

A Madison developer is proposing two large apartment buildings near the Kohl Center and UW-Madison, continuing a surge of residential construction in the Downtown area.

Scott Faust is proposing to demolish two smaller residential buildings to build a 12-story tower at 313-315 N. Francis St. and to demolish four more residential buildings for a five-story apartment building at 202-222 N. Bassett and 510-520 W. Dayton streets. Both projects are targeted mainly to students but also would welcome young professionals.

The market for rental units is attractive, Faust said, noting it's become harder to afford single-family homes, the city has a low vacancy rate for rental units, and employees of booming Epic Systems in Verona are demanding housing in Downtown Madison.

Ald. Mike Verveer, 4th District, who represents the area, said the proposals continue "a renaissance of intense Downtown development" and have received a positive initial reception from residents.

"It's a clear sign the recession has ended in terms of Downtown Madison development, at least as it relates to rental housing," he said.

Verveer said some may bemoan the continuing loss of traditional houses Downtown, but the majority of buildings to be demolished for the projects have outlived their usefulness.

A neighborhood meeting is set for 7 p.m. on Oct. 24 at the Double Tree Hotel, 525 W. Johnson St.

Faust said he's wanted to redevelop the properties for some time but was inhibited by height restrictions in the city's Downtown design zone. Those were eliminated earlier this year as the city readied a new Downtown Plan and zoning code and map. The proposals fit the new plan and the proposed code, which will likely be adopted this month, he said.

The 12-story building would have first-floor commercial space, 42 apartments and 91 underground bicycle stalls. The building is near public parking and probably won't have parking for cars, Faust said.

The five-story building would have 71 apartments, 58 underground parking stalls and eight surface stalls, 112 bicycle stalls and 16 moped spaces.

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Two big apartment buildings proposed near Kohl Center, UW campus