Extra $11M approved for Judge Doyle Square project
The city’s finance committee reluctantly recommended pumping 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.
According to developer Beitler Real Estate Services of Chicago, the higher costs are a result of design details and rising construction costs and interest rates since the contract was first signed in 2016.
In that time, phase one costs (retail, above-ground parking, apartments) jumped from $32 million to $48.5 million and the total project cost jumped to $186 million.
After an April review, developer Beitler determined that the private portion of the project would no longer be financially feasible as originally planned and asked the city for help.