Clarion Partners Vermilion Development and Quartz Lake Capital Open The Duncan Three Hundred Nine Unit Multifamily Community on Lake Mendota in Madison

Clarion Partners, Vermilion Development and Quartz Lake Capital have opened The Duncan, a 309-unit multifamily community at 1625 Lock Lane in Madison, Wisconsin. The project sits within a federally-designated Opportunity Zone overlooking Lake Mendota and across from Tenney Park, positioned for direct access to outdoor recreation, neighborhood amenities and downtown Madison.

The community offers a mix of studio, one-, two- and three-bedroom homes, including townhome options, with open-concept layouts and elevated finishes. Many residences provide views of the Capitol, Tenney Park or Lake Mendota. On-site amenities include a fitness center, club room, co-working space, a sky lounge with outdoor terrace, heated vehicle and bike parking, an expansive outdoor area with fire pits and grilling stations, a fenced dog run and community gardens. Greystar will manage the property.

Design and delivery partners on the project were architect Potter Lawson and general contractor McShane Construction Company. CIBC served as lender.

"The Duncan reflects our continued conviction in high-quality housing located in markets supported by strong fundamentals and enduring resident appeal, said Clarion Partners Managing Director Jason Glasser. With its idyllic waterfront setting and access to the broader Madison area, the community is well positioned to meet the needs of today s renters."

"The Duncan represents the kind of placemaking we strive for—thoughtfully designed housing that is connected to its surroundings and enhances the resident experience, said Dave Cocagne, President/CEO of Vermilion Development. It s setting near the water, the park, and downtown Madison creates a compelling lifestyle offering, and we re proud to bring this community to market."

The opening underscores continued investor interest in well-located housing that integrates with community assets and responds to market fundamentals. For operators and developers, The Duncan illustrates how waterfront proximity, neighborhood connectivity and a broad amenity set can be combined to meet renter preferences in a market where demand outpaces supply.

Multifamily Leadership will continue to track developments that demonstrate placemaking and strategic site selection as drivers of long-term value and resident satisfaction.