The project’s developer revealed on Monday that it had bought the Judge Doyle Square site and had obtained funding for a 262-room Embassy Suites by Hilton. The hotel has gone through several iterations as part of a US$175 million redevelopment of property northeast of the Madison Municipal Building that has been in the works for years. In October, Beitler Real Estate Services agreed to hand over the rights to Mortenson Development to build the nine-story hotel for the two-block, private-public redevelopment. Instead of granting a lease, the city sold the hotel property to Mortenson for $4 million as part of the rights transfer.
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Embassy Suites by Hilton on Judge Doyle Square
Mortenson wants to commence ground in the spring and open the hotel in 2024. Mortenson did not disclose the project’s cost. Mortenson had also sought to lease up to 200 parking spaces in public garages, including the Wilson Street Garage across Pinckney Street from the hotel site, for a 40-year starting term. Cameron Snyder, a Mortenson representative, stated on Monday that the parking deal “will be adjustable based on demand/need.” Beitler had wanted 40 spaces as part of a 10-year arrangement in its discussions with the city.
“This achievement marks the long-awaited completion of a successful public-private partnership between the city of Madison, Destination Madison, Monona Terrace, other community stakeholders, and the Mortenson team.” “We are excited to carry out the city’s goal of transforming this component of Judge Doyle Square into a modern hospitality destination,” said Nate Gundrum, Mortenson’s vice president of real estate development, in a statement. The hotel is intended to accommodate Monona Terrace and other Downtown events, and it will join the city’s expanding list of new hotels that have been erected or extensively renovated in recent years prior to the start of COVID-19.
