$140 million State Street development nearing final approval

Mortenson State Street

(Mortenson Development)

A massive development that would feature a $140 million housing project, parking garage, and bus terminal on State Street got the go-ahead from the city’s Plan Commission on Monday, according to a report from the Wisconsin State Journal.

The project from Minneapolis-based Mortenson Development would demolish a decades-old parking garage at 415 N. Lake St. and replace it with a 16-story structure with 248 apartments, hundreds of parking spots above and below ground, and two rooftop terraces.

A separate parking structure at 430 N. Frances St. would remain and be integrated into the new development.

If the plan is approved, the existing Lake Street parking garage would be demolished in September 2023, with construction of the development to last from February 2024 to May 2026.