MATC downtown campus gets initial okay

The Wisconsin Technical College System Board unanimously approved Madison College’s plan to lease its downtown campus for $130 million in private development, according to a story in the Wisconsin State Journal.

The building site will be developed into a 197-room Drury Hotel, and a 10-story office building with retail space and a grocery store.

Construction would begin after MATC vacates the campus on June 30, 2019. The school’s 99-year land lease to Hovde Properties ($300,000/year) and Drury Southwest ($450,000/year) would begin the next day with payments rising annually after the first five years.