November 8, 2005, Middleton, WI – T. Wall Properties unveiled a proposal for a new mixed-use development in Middleton, Wisconsin at Tuesday night’s Plan Commission meeting. The New Urbanism development, called Tribeca Village, will be developed on a 24-acre site that sits between the new U.S. Highway 12 and old U.S. Highway 12, since renamed Parmenter Street. The project is anticipated to become the gateway to Middleton. Terrence R. Wall, President of T. Wall Properties, noted, “Tribeca Village will be a true mixed-use development, a place where you can live, work and play.”
The triangular site will be densely developed and will contain a surprisingly wide variety of uses unlike any other development in the county. When completed Tribeca Village will contain one million square feet of building space with an estimated value exceeding $225 million. The majority of the space will be devoted to six office buildings comprising a total of 440,000 square feet. Another 326,000 square feet will be dedicated to retail uses, in addition to 169 apartments and condominiums, including workforce housing. Three buildings, totaling 46,000 square feet, will be devoted to dining and entertainment uses. In addition, there will be one four-story hotel.
The developer is targeting up to three urban retail stores, which could include a general merchandise retailer, home improvement store, grocery store, and drug store. These retailers will act as the anchors of the Village.
Tribeca Village, modeled after the famous Tribeca neighborhood in New York City, will provide a pedestrian-friendly environment and ‘micro-spaces’ for people to interact. Such micro-spaces will include sidewalks, plazas, squares, fountains, and an urban stream. A pedestrian street through the heart of the Village, named after the famous Canal Street in New York, will provide a path to storefronts that will take on eclectic architectural elements to recreate the idea of old town streets developed over time. In addition, large, visible expanses of parking will be avoided by constructing parking structures hidden from view. Each visitor will be able to experience each component of Tribeca Village without the use of an automobile.
Tribeca Village will be the northern anchor of Middleton’s business district and will be a critical component to the redevelopment of Parmenter Street, which will include new bike and pedestrian paths and a redevelopment and redesign of the road with medians and roundabouts. Approximately 29,000 trips per day have been eliminated from Parmenter Street since completion of the new U.S. Highway 12 bypass. Development of Tribeca Village is expected to replace 2/3 of those trips on Parmenter Street per day. The intention is that people will travel back and forth on Parmenter Street with Tribeca Village as the northern anchor and the existing Downtown Middleton Business District as the southern anchor; much like State Street with the Capitol on one end and the University on the other. Tribeca Village’s status as a regional destination point will create the traffic on Parmenter Street necessary for the continued success of Middleton’s downtown business district and of businesses located along Parmenter Street.
T. Wall Properties is partnering with two local firms as it plans Tribeca Village. Plunkett Raysich Architects of Milwaukee, Wisconsin, is providing architectural planning services and Vierbicher Associates of Madison, Wisconsin, is providing site-planning services.
T. Wall Properties has over 400 acres of developable land inventory in Middleton and surrounding communities on which the company plans to develop large, high-density, mixed-use, master-planned commercial communities. Like Tribeca Village, these “T. Wall Urban Villages” will follow New Urbanism principles and will cater to current lifestyle trends that demand more convenience in every aspect of life. Wall noted, “We’re building buildings for people. The Urban Village is designed to be more efficient with your daily time and travel. I want our places to be uplifting, creative, and pleasurable for everyone who lives and visits. The Urban Villages will be a great addition for Middleton and its surrounding communities.”
T. Wall Properties is a Madison-based, award-winning commercial real estate development firm that owns 1.25 million square feet of space, making the company one of the largest office developers in Wisconsin and the largest in Dane County. T. Wall Properties has created and developed some of Madison’s most prominent master planned business communities such as City Center West, High Crossing Environ, and The Center for Industry & Commerce, and is a privately traded partnership with over 160 shareholders. If you would like more information on any of T. Wall Properties’ locations, please call (608) 241-2100.
