Since When Is Madison Not Desirable for New Construction?

I didn't know it but Madison's reputation as being an undesirable place for new construction goes beyond southern Wisconsin.

I read the following in an article about a couple developers taking on Philadelphia's pugnacious trade unions:

A 2008 report by Econsult found it to be unprofitable to build in most of Philadelphia, ranking it below even Madison, Wisconsin, as a desirable place for new construction.

You wouldn't think Madison has such a lousy reputation from all the new buildings under construction, though. There's construction at Bassett and Johnson, apartments going up near Monona Bay, more going up on the 700 block of East Washington, the Edgewater is being remodeled, and the city is actively pursuing bids to develop the 800 block of East Washington and Union Corners. The UW is always building something. I've only lived here about 22 years yet the Square and its environs have been transformed. Pinkney Street and Doty was developed in the 90s. That high rise at Mifflin and Wisconsin. A convention center. Miffland is getting new apartments. That high rise on King Street and the sardine can on Wilson. Plus that one at the end of South Hamilton. The Red Hotel by Camp Randall. The Old Sauk Business Park and that area on the west side. When I worked there in the late 90s, it was some office buildings, a Denny's, and a McDonalds. Now look at it. Plus the interstate is no longer a border for development. Drive east on Cottage Grove Road and see all the new houses and malls. Take a gander at all the buildings between Madison and Sun Prairie. Reiner Road now has an overpass.

For being so undesirable, there's no shortage of building construction here in Madison nor has there been for at least a couple decades.