Five companies were selected Wednesday as finalists for their proposals to redevelop Madison Area Technical College’s Downtown campus.
The college’s District Board of Trustees decided on the finalists in closed session from a pool of 11 developers interested in ground-leasing the land from the college.
Four of the five proposed projects call for using some existing structures on the 2-acre site.
While the projects vary in features — including creating public park space and providing living space for artists — four of the plans call for a hotel at the site at 211 N. Carroll St.
After reviewing each company and project’s qualifications, trustees selected Alexander Company, of Madison; Baum Revision Real Estate, of Chicago; C.D. Smith & HKS Holdings, of Fond du Lac and Milwaukee; Hovde Development, of Madison; and Sherman Associates Inc., of Minneapolis.
Alexander Company proposes using some buildings for apartments, including an affordable housing component. A boutique hotel, an additional multifamily building and underground parking would also be built on the land.