Demolition of the Cap Times’ former downtown Madison office is on hold

A redevelopment project that would demolish a former office of the Cap Times and build a mixed-use apartment complex and fitness facility is on hold, according to property owner Erik Minton.

The project proposes adding 77 studio- through two-bedroom apartments and a rebuilt Capital Fitness at 208 and 302 E. Washington Ave. City officials signed off on the demolition and construction plans last September, and construction had been expected to begin this spring.

But higher interest rates and construction costs emerged following the United States’ war with Iran this year, Minton said, prompting a pause in the project.

“The project’s approved. It’s financed. The legwork is done, except for some finalizing with the architects. It’s ready to start,” Minton said. “When it’s pouring at Wimbledon, they wait for the rain to stop. Right now, it’s simply got to stop raining.”..

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RSK: Ambitious project but Eric has the right plan of action. Wait until the rain stops.