The storefronts remain vacant.
Photos by Retiring Guy
Covid had nothin' to do with it. At least at this point.
Wisconsin State Jounral, 10/19/2019
Park Bank filed a lawsuit in Dane County Circuit Court on Wednesday seeking to foreclose on mortgages related to the project, which promised to transform the 100 block of State Street but has already been delayed for a year.
The bank is seeking a foreclosure and money judgment against the developer, Ascendant Holdings of Madison, and others claiming the defendants failed to make payments on two loans now totaling $4.5 million and did not winterize and secure the property, allowing utilities to be cut off.
The developers say they are continuing to seek financing and hope that the project can still become a reality.
The latest:
No Takers. (Isthmus, 8/10/2021)
The exact same scenario unfolds for 124-126 State Street, with no bidders other than Park Bank, whose attorney offers an opening (and winning) bid of $1 million for the properties.
Given the hot real estate market in Madison, there was some expectation there would be more interest in property on a prime block of downtown Madison. It was a disappointing footnote to an ambitious redevelopment project that sadly never got off the ground.
04/8/2019 update starts here.
It appears from the related articles cited below that, yes, it is moving forward.
Boutique.
Meet the Overbite Building, a pasted-on facade that's as ugly as it gets. Good riddance!
Nothin' happenin' yet, tho.
Related articles:
Eye of the beholder. (Isthmus, 5/21/2018)Get over it. It's a hubbA huBba kinda world, folks. The $40 million project, which has been in the works for about two years, continues to evolve with the recent acquisition of 124 and 126 State St. “I’d be more frustrated with the long process if it didn’t lead to a better design,” he says. “I think we’re getting there.”
Not everyone is in love with his vision. Although most people want to see the 100 block of State Street developed, some are concerned that plans would blow through the height limits established by the Downtown Plan and zoning regulations. They worry it will be an imposing presence on one of the city’s most historic blocks and lead to more State Street high-rises.State Street hotel design tweaked. (Isthmus, 7/10/2018)
The $40 million project, which spans 118 to 126 State St., was first proposed last fall and has gone through two revisions since then. At a May public hearing on the project, residents and city officials were concerned about the size, height and design of the hotel compared to the rest of State Street.
Perhaps most contentious is the proposed height, which exceeds height limit established by the Downtown Plan. The proposal calls for a nine-story building, with setbacks at the fourth and eighth stories. There is concern that the building will look imposing to its neighbor, the Lamb Building, an historical landmark adjacent to it that houses Michelangelo’s Coffee House.Plan Commission approves $43 million State Street hotel. (Wisconsin State Journal, 9/18/2018)
Despite a negative recommendation from city staff, the Madison Plan Commission on Monday approved the demolition of four buildings and construction of a $43 million, nine-story boutique hotel on the 100 block of State Street.
The commission, hearing broad community support for the project and its potential to revitalize upper State Street, overwhelmingly approved Ascendant Holdings’ proposal to demolish all or part of four vacant commercial buildings at 118-126 State St. for a 133-room hotel with a first-floor restaurant and tavern and rooftop lounge.
Madison City Council approves State Street boutique hotel. (Capital Times, 9/26/2018)
Plans for the nine-story, 130-room hotel have found favor among Madison’s downtown community members and representatives, who hope that the project will deter criminal activity on the block between the top of State Street and the Capitol.
“The bottom line for me is that we can’t wait for something to happen at the top of State Street,” Ald. Mike Verveer, District 4, said. We need to act today. We need to act immediately to do everything we can to improve the top of State Street.”
11/13/2017 update, "New hotel will transform the streetscape of 100 block of State Street", starts here.
The view from West Dayton across North Carroll
From the top of the State Street/Capitol parking ramp
Through the glass of the locked door of the pedestrian sky bridge
All photos by Retiring Guy
Plans call for demolishing the existing six-story building and pedestrian sky bridge, above, for a new hotel that would be four stories on State Street and rise to nine stories at Carroll and Dayton streets.
Original 10/15/2016 post, "The Towering Isthmus: 'Boutique' just means you can't afford to stay there", starts here.
Photos by Retiring Guy
Newly proposed State Street hotel could help downtown retail. (The Capital Times, 10/12/2016)
The 120-room boutique hotel would take the place of two buildings: 122 State St., the six-story home of The Fountain bar and restaurant and office space, and next-door 118 State St., currently the two-story bar Winedown.
Other "Towering Isthmus" posts:
UPDATE. HubBa and the West Gorham Street canyon. (6/11/2017)
Downtown Madison MATC campus proposal. (6/11/2017)
HubBa in the home stretch. (6/2/2017)
UPDATE. The Towering Isthmus: AC Hotel Madison is open for business. (5/5/2017)
UPDATE. Two views of the Lyric Apartments from a sunny East Mifflin vantage point. (4/6/2017)
UPDATE: Another look at Ovation 309. (10/22/2016)
'Boutique' just means you can't afford to stay there. (10/15/2016)
UPDATE. Anchor Bank Capitol Square development. (9/16/2016)
UPDATE. Uncommon, the final shot. (9/16/2016)
UPDATE. Capitol's Edge Apartments, the final shots. (9/16/2016)
Another development starts to rise along East Washington Avenue. (8/23/2016)
UPDATE. The Towering Isthmus, Anchor Bank Capitol Square development. (8/9/2016)
AC Hotel Madison at East Washington & North Webster (view from Capitol observation deck). (7/4/2016)
UPDATE. The Towering Isthmus: hubBa with cranes wingspan. (7/4/2016)
UPDATE: The Lux on West Johnson Street. (1/15/2016)
UPDATE: Madison Plan Commission rejects 10-story boutique hotel to take place of Pahl Tire. (10/14/2015)
UPDATE: 9 more stories to go. (9/26/2015)
670,000 square foot development risin' on the 800 block of East Washington. (4/19/2015)
Sleeping and entertainment destination to rise in the middle of this photo. (1/11/2015)
A behemoth hogs the skyline from Bascom Hill. (12/14/2014)
Cranes at dusk. (12/11/2014)
UPDATE: The Towering Isthmus: The Towers of Porta Bella. (11/23/2013)
The Hub, the new hulk in town. (11/16/2014)
North Bedford Street Project Still in the Proposal Stage. (11/11/2014)
Coming soon: Another chapter in The Towering Isthmus Saga? (9/19/2014)
Blue Velvet. (9/10/2014)
The New Edgewater Hotel gets ready for its fireworks celebration. (9/10/2014)
Among the first wave of towers on the Isthmus. (9/9/2014)
For those of you who haven't stood at the intersection of West Gilman and State Street in Madison Wisconsin lately. (9/9/2014)
A tree grows on West Gilman Street. (9/9/2014)
Nobly or otherwise, this is no longer the question. (9/8/2014)
Deconstruction complete at 17, 19, 25 North Webster and 201 East Mifflin Streets. (9/7/2014)
The towering isthmus (left to right). (8/27/2014)
The Towering Isthmus (and the 3 cranes): For folks who can afford the view. (7/22/2014)
That Was Then, This is Now: The 400 Block of West Gilman. (7/18/2014)
New housing rising. (5/8/2014)
Cranes over Porta Bella. (4/22/2014)
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