Judge Doyle Square needs another $11M
The city of Madison may have to tack on another $11 million to keep the massive, two-block Judge Doyle Square downtown project on track, according to a story in the Wisconsin State Journal.
The additional charges are reportedly due to design details, and rising construction costs and interest rates since the contract was first signed in 2016. The cost of the first phase (retail, above-ground parking, apartments) has since jumped from $32 million to $48.5 million, and the total project price tag has increased to $186 million.
After an April review, developer Beitler Real Estate Services of Chicago determined that the private portion of the project would no longer be financially feasible as originally planned and asked the city for help. The city is weighing several options.