Report: A mixed bag for downtown Madison

In its 2022 annual report, Downtown Madison Inc. stated that Madison’s central downtown area is experiencing new construction, an increase in residents, and growing attendance for events and tourism, according to a report from the Wisconsin State Journal. Downtown Madison is flourishing in many ways but there are concerning signs of rising office vacancies and a decrease in employees. The office vacancy rate rose from 10.9% in 2021 to 13.4% in 2022, and the number of employees working downtown went from 50,627 in 2020 to 49,118 in 2022. Madison’s central downtown is bounded by lakes Mendota and Monona, Blair Street, and South Park Street.