State Sells Downtown Buildings for Less | Madison News

The state is selling two downtown office buildings for $12.65 million—way below their $28M+ appraised value—to convert them into apartments and commercial space, sparking debate over whether taxpayers got a fair deal. Developers Hovde and Pivot Point plan to turn one into affordable housing, renovate the other, and build 200 new units on the site. The buildings have sat vacant for years as agencies moved out, and while the state says the price reflects needed renovations, critics question if it’s truly the best value. The parking lots will be sold separately later. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1f0fb343f1abdfc6