An Illinois developer is going heavy on small, studio apartments in a proposal for a six-story apartment building at the corner of West Washington Avenue and North Broom Street.
Of the 85 units in Up Urban Properties' proposal for 400 W. Washington Ave., 59 are studios of 400 square feet or less. Fifteen units have two bedrooms and another 11 have three.
The target market is young professionals and, to a lesser extent, college students, said Melissa Huggins of Urban Assets Consulting, which is working with the developer.
The Madison Metro route 75 that runs between the Capitol Square and the Verona campus of Epic Systems stops in front of the property, with other bus routes nearby.
"This is really a transit-oriented development," Huggins said.
A neighborhood meeting for the proposal is scheduled for 7 p.m. Tuesday at the Madison Senior Center, 330 W. Mifflin St.
The proposal also is scheduled for an informational hearing before the Urban Design Commission on Wednesday.
It involves demolition or relocation of six houses along West Washington Avenue and North Broom Street. They're all owned by Cardinal Group Wisconsin I, LLC, of Denver, from which Up Urban Properties has an option to buy, Huggins said.
The combined land value of the 0.425 acres is $366,600, according to city tax records.
The houses, varying from 1½ to 2½ stories, were built between 1890 and 1930.
The 2½-story flat at 10-12 N. Broom St. has some architectural and historical importance, according to documents filed with the city, and the developer is exploring a move for that house on the 400 block of West Washington Avenue.
The proposal includes underground parking for 35 cars, 83 bikes and 20 mopeds and a four-story design that steps up to six stories beyond 30 feet back from the West Washington Avenue frontage.
"It's very similar to some of the other projects that have been going up targeting young professionals," Huggins said. "This one differs in its mix of unit types. It's got a higher percentage of studios."
Up Urban Properties has successfully developed similar properties in Seattle, Tucson and the Chicago area, Huggins said.
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