A new boutique hotel is in the works for Madison, Wis. A development group is seeking approval to demolish a vacant six-story building, located at 122 State St., and two-story bar in downtown Madison to make way for a four-story, 120-room boutique hotel on State Street.
The property, which will be built for an estimated $30 million, will be constructed through a partnership between Provenance Hotels of Portland, Ore., Ascendant Holding Real Estate and Central Properties, both based out of Madison. Provenance operates independent hotels in Portland, Seattle, Nashville, New Orleans and Tacoma, Wash.
“What we will do will be one of a kind,” Bashar Wali, president of Provenance Hotels, said in a statement. “There will be no other.”
The development team behind the project owns the six story building primed for demolition, which was built in 1917 as the city’s first YWCA. The company also has the option of purchasing an adjacent building, located at 118 State St., which currently houses an event space called Winedown. The proposed redevelopment for the new boutique property includes the footprint of both buildings, meaning an acquisition is still on the table.
Ascendant Holdings and Central Properties first wanted to re-use the existing buildings, but found that much of the exterior of what was once the YWCA building was removed and replaced by a new facade in 1971, while the interior was bereft of historical architecture.
“At first glance, I’m extremely supportive of the concept of a hotel there,” City Council President Mike Verveer, 4th District, said in a statement. “It’s a great land use at that location. Height and parking are the main concerns related to the project.”