McGrath Property Group proposes lofts and a new 5-story building along bike path
The McGrath Property Group is trying where The Baldwin Group has failed, to redevelop on the north side of the 700 block of Willy Street. In a letter sent to District 6 Alder Marsha Rummel, McGRath Principal Lance McGrath said that his company has accepted an offer to purchase 714-722 Williamson Street which includes the Morris Paper/Olds Seed building and the adjacent parking lot.
McGrath plans to turn the Olds building into 40-50 “Concrete Lofts” featuring 11-foot ceilings, exposed duct work and brick walls along with large windows; all the features which McGrath says will be unique to Madison. The first floor will likely feature commercial/retail use and they plan to add one or two levels to the building in pursuit of the loft concept.
In addition conversion of the current structure, McGrath proposes to build a five-story building running east-west abutting the Capital City Trail bike path on the north side of the current parking lot. This building will feature 80-90 units with parking at the ground floor and one level underground.