Madison Common Council approves team to guide housing, grocery development

Design concept for proposed project on Park St. for a new grocery store and apartments. Courtesy: Rule Enterprises
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MADISON, Wis. (WMTV)-- The Madison Common Council approved forming a development team Tuesday to help guide negotiations, as the city looks to build a new grocery store and housing project at the former Truman Olsen site on South Park Street.

Last month, the Madison Finance Committee recommended Rule Enterprise's proposal for the 1402 Park Street location.

Rule’s proposal includes a six-story building with a grocery store, 150 mixed-income apartments and 345-space parking garage. The hope to have the $41.3 million project to be completed by early 2022.

Madison city staff reported Kroger, the parent company of Pick ‘N Save, wants to close the Park Street Pick ‘N Save.

There is a lease agreement that the store could close as late as 2022, but it could close earlier if the current property owner or Kroger determines it is in their best interest to exit the lease.