The new interchange off interstate 565 in Madison could open sooner than planned.
The developer of Town Madison told WAAY 31 they want to fast track the project in order to get the multi-million dollar interchange open by 2019, which would be about the same time the Baybears would begin their 2019 season if they relocate to Madison.
For months there’s been talk of bringing the minor-league team to Madison. With that comes the need to build a new ball park and provide easy access to it.
Madison Mayor Paul Finley said interest in Town Madison has been phenomenal since news broke about the possibility of making it the home field for the Baybears.
“You can’t have a venue that you can’t get to,” Finely said.
To accommodate both a ballpark and all the interest in the mixed use development by 2019, the developer said they’re now looking at a $40 million dollar project.
Breland Properties originally planned to build the off ramp and Town Madison infrastructure for $22 million plus state and federal funding, but moving up the project means paying for the interchange without government aid.
The additional $18 million would not be paid by the city up front; instead Breland Properties increase their bond amount and assume all of the risk. The developer, on the back end, would collect the money in sales, liquor and property tax revenues.
Finley also believes by asking for the money up front they can minimize the time to completion and not wait on state or federal aid.
The mayor also says the city should have a leasing agreement with Ballcorps LLC, the new owners of the Baybears, later this month.
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