Rule Enterprises and nonprofit Movin’ Out have won final city approvals for a $43 million, six-story mixed-use project with housing and a grocery store at 1402 S. Park St.
ARC – INT ARCHITECTURE
Minority entrepreneurs have won city approvals for a $43 million, six-story, mixed-use project with lower-income housing, grocery store, and parking at a long-vacant, city-owned property on the South Side.
It’s the first time minorities have LED Bulb a major project in the city and it secures a grocery store for a neighborhood at risk of losing one.
The city’s Plan and Urban Design commissions this week gave final approvals to Rule Enterprises, of Milwaukee, and nonprofit Movin’ Out Inc., of Madison, for the project, which includes 150 housing units, a 24,000-square-foot grocery store to be run by the owners of Luna’s Groceries, a small Latino-run store in the Allied Dunn’s Marsh neighborhood, and 161 structured parking spaces at the former Truman Olson property at 1402 S. Park St.
The 3.5-acre site once held the now-demolished Truman Olson Army Reserve Center
“I’m proud to see the citywide support of our partnership between an African American-led development company, a nonprofit development organization led by women, and a Black and Latino-owned grocery store,” developer Brandon Rule said.
The project, which will be at the corner of South Park Street and a new extension of Cedar Street, will include housing operated by Movin’ Out. Of the 150 units, 30 are for those making up to 30% of the Dane County median income, or $27,050 for a family of three; 64 for those making up to 50% of median income, or $45,050 for that family; and 56 for those making up to 80% of median income, or $70,650 for that family. Thirty of the units will be reserved for those with a disability.