The Madison Plan Commission on Tuesday gave the proposed Edgewater Hotel redevelopment three approvals after hours of debate and questioning that began Monday night.
“It certainly gives the project new wind,” said Alderman Michael Schumacher, a member of the Plan Commission.
The commission approved a zoning change for the project, a conditional use permit for waterfront development and an amendment eliminating a 45-year-old prohibition against building on certain space on Wisconsin Avenue.
Coupled with initial approval last week from the city’s Urban Design Commission, Schumacher said the estimated $93 million project is now in good position for a Common Council vote scheduled for April 20.
However, the project likely will have to go before the city’s Board of Estimates to discuss tax incremental financing assistance for the project. Madison leaders last year authorized spending $16 million in TIF assistance, but that amount was based on initial plans for the project, before Brookfield-based Hammes Co. reduced the height of a new tower, moved that tower 15 feet east and added an underground parking ramp.
Schumacher also said the city attorney this week will issue a memo stating whether or not the changed project will need another review by the Landmarks Commission.
But for the moment, he said momentum is on the Edgewater’s side.
“I think the building has the potential to be a shining star for the city,” Schumacher said.