Dec. 12, 2021 (EXCERPTS FROM MADISON.COM/WSJ) – In this commentary, the Wisconsin State Journal editorial board describes how the planned Oliv Madison project is working to provide rooms rented at below-market rates for low-income students. Vandewalle & Associates is assisting this work by developer Core Spaces.
“This is the kind of creativity and flexibility Madison needs more of to solve its affordable housing crisis.
“The Madison City Council on Tuesday approved a student apartment building on State Street that granted the developer two extra floors of height (to 10 stories) in exchange for more rooms rented at below-market rates.
“The city is similarly considering another 10-story structure near the Capitol Square that could swap height for affordable units in the 300 block of East Washington Avenue. A third proposal for a 12-story apartment building near the Kohl Center seems ripe for such a deal, too.
“Downtown Ald. Mike Verveer calls the welcome trend a ‘density bonus.’”
