Gilbane Development Company and Summit Smith Development Announce $300+ Million Madison Yards Development To be Anchored by Whole Foods Market

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The vibrant, live/work/play mixed-use district will feature multiple Class-A office and medical spaces, 400 upscale residential units, and a 50,000 square foot Whole Foods Market surrounding a walkable central green plaza with retail, restaurants, an upscale hotel, and entertainment spaces.

Madison Yards at Hill Farms

“Adding Whole Foods Market is a big win for Madison Yards and speaks to the caliber of what we’ve envisioned all along for the development,” noted Russell Broderick, Senior Vice President of Gilbane Development Company.

Smith Gilbane, a joint venture comprised of developers Gilbane Development Company and Summit Smith Development, announced today that it has signed a lease for a 50,000 square foot Whole Foods Market to anchor its Madison Yards at Hill Farms development, located at the southwest corner of University Avenue and Segoe Road in Madison, WI.

Whole Foods Market is the first retail tenant secured for Madison Yards, a vibrant, 21-acre live/work/play district. The 1.7 MM square-foot development will feature multiple Class-A office and medical spaces surrounding a walkable central green plaza with an upscale hotel; and, 110,000 square feet of retail, restaurants, and entertainment spaces.

Smith Gilbane completed development of the 600,000 square foot State of Wisconsin State Office Building and parking garage on the site in 2018. The City of Madison approved the General Development Plan for the mixed-use development in May 2018. The next phase of the project, to include Whole Foods Market, hotel, parking, residential with ground-level retail, and roads and infrastructure is expected to begin in summer 2020 (pending site implementation approvals).

“Adding Whole Foods Market as our first retail tenant is a big win for Madison Yards and speaks to the caliber of what we’ve envisioned all along for the development,” noted Russell Broderick, Senior Vice President of Gilbane Development Company. “We’re excited to continue building upon our plan for what promises to be a wonderful destination for the City of Madison and its residents.”

“Madison Yards will transform the existing site into a walkable, mixed-use destination that is woven into the fabric of the University Hill Farms neighborhood while building upon the eclectic vibe of the city. We can think of no better way to kick off the project than by welcoming Whole Foods Market,” noted Mark Theder, President of Summit Smith Development. “We are excited to continue our planning and look forward to creating a unique destination that complements the community and becomes a Madison landmark.”

“As a longtime member of the Madison community, we look forward to continuing to serve our neighbors at this brand-new location and providing them with an updated, more exciting shopping experience,” said David Schwartz, Regional President for Whole Foods Market’s Midwest Region.

For more information and updates on the project, please visit http://www.madisonyds.com.

Gilbane Development Company is the project development, financing and ownership arm of Gilbane, Inc., a private holding company in its fifth generation of family ownership and management. Gilbane Development Company provides a full slate of real estate development and project management services. Completed projects incorporate every aspect of real estate including: mixed-use developments; multifamily including affordable housing, student housing, and market rate apartments; single-family residential communities; corporate headquarters and office space; healthcare facilities; operational | data | distribution centers, R&D | manufacturing facilities; and many types of facilities delivered through public-private partnerships. To learn more, visit http://www.gilbaneco.com/development.

Summit Smith Development is a full service, commercial real estate development division of C.D. Smith Construction, Inc. based in Milwaukee, WI. C.D. Smith is a family-owned and operated firm headquartered in Fond du Lac, WI. Founded in 1936, C.D. Smith has grown into one of the State of Wisconsin’s largest general contracting firms with broad construction and development capabilities. Summit Smith Development, develops projects across the country, including a diverse portfolio of mixed-use, medical, and office facilities. To learn more visit http://www.summitsmith.com.

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Wes Cotter
Gilbane
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