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Repvblik Acquires Madison Hotel for Workforce Conversion
Repvblik LLC has acquired the Madison Plaza Hotel in Madison, WI and unveiled plans to convert the hotel into workforce housing for the greater Madison area. The developer, which specializes in adaptive reuse, plans to fully renovate and repurpose the property into an estimated 155-190 affordable studio and one-bedroom housing units ready for occupancy in 2023.
Located on East Washington Avenue in Madison, the property has already turned over the keys. The purchase price wasn’t disclosed. The project permitting process with the City of Madison will begin this fall.
Renovation and construction will commence once permits and approvals are in-hand. It’s expected to include façade renovation, pool area updates, fitness center, lounge & game room, coworking space and meeting rooms, onsite laundry addition, parking lot refinishing, upgrades to interior fixtures and finishes, kitchenettes, and landscaping and greenspace.
In cooperation with HotelBrokerOne, Jameson and Company facilitated the sale of the property.
- ◦Sale/Acquisition
- ◦Development
