Is the fifth time a charm for Essen Haus redevelopment?

Working with local architects from Kahler Slater, Salt Lake City’s Lotus Company is proposing to create two mixed-use buildings on the Essen Haus site, bringing 198 apartments to downtown Madison, the Wisconsin State Journal reported.

The company said the apartments would be aimed at service workers, nurses and teachers and would be mainly one- and two-bedroom units. All apartments for the East Wilson Street development would be open to people earning between 30% and 80% of the area median income.

Lotus is pursuing low-income housing tax credits from the Wisconsin Housing and Economic Development Authority for the more than $40 million development.

Like the previous project proposed for the site, the plan would preserve the Hotel Ruby Marie. It also calls for an alley between the two apartment buildings, 120 parking stalls and about 6,000 square feet of retail space, which could include a restaurant.

After earning the requisite city approvals, Lotus would break ground next summer and complete the project in 2029.

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RSK: The fifth time? I am sure the city will find something wrong that if fixed would hurt the bottom line and make the project a no go.....hoping I am wrong on this.