McShane Construction to Develop 309-Unit Apartment Complex Near Downtown Madison
Madison, Wisconsin – McShane Construction Company has been selected by Vermilion Development to construct Lock Lane Apartments, a 309-unit multi-family community in Madison, Wisconsin.
“We are proud to partner with Vermilion on this exciting project,” commented Alison Gorham, Vice President at McShane. “Located next to a large public park, river boat launch, and Lake Mendota with easy access to downtown Madison, Lock Lane Apartments will offer a great balance between outdoor connection and modern, downtown living.”
Situated on an 8.5-acre site adjacent to Tenney Park, the development will feature two five-story podium-style buildings housing a total of 289 units, along with three two-story townhome buildings containing 20 units. The podium buildings will incorporate four levels of wood framing above a two-level precast parking garage, and their facades will showcase an appealing combination of lap siding and brick.
Residents will have access to balconies, quartz countertops, in-unit washers/dryers, and spacious closets, with many units offering scenic views of the lake, park, or river. The complex will include a variety of amenities, such as expansive green roof amenity areas on the podium buildings, fitness centers, fifth-floor club rooms with common balconies, co-working office spaces, conference rooms, and heated parking for vehicles and bikes. Additionally, the site will feature a fenced dog run, community gardens, and direct access to both the lake and riverfront.
The project has been designed to meet several Focus on Energy initiatives.
“In this difficult capital raising environment, Vermilion is delighted to partner with Quartz Lake Capital and Clarion Partners to finance this project and bring much-needed new, high-quality housing to the Madison area,” said Dave Cocagne, Vermilion’s CEO. “We appreciate the tenacity of JLL to source the equity capital for the project. We’re also pleased to continue our long-standing relationship with CIBC, which will be providing construction financing for the project.”
Potter Lawson is providing architectural services for Lock Lane Apartments.
About McShane Construction Company
Established in 1984, McShane Construction is a nationally recognized general contractor offering design-build and build-to-suit construction services across the multi-family, industrial, commercial, health & fitness, and institutional sectors. A female-owned and led business, McShane is headquartered in Rosemont, IL, with regional offices in Madison, WI; Auburn, AL; Nashville, TN; and Phoenix, AZ. For more information, visit www.mcshaneconstruction.com.
About Vermilion Development
Vermilion Development is a Chicago-based real estate development and investment firm specializing in community-oriented mixed-use projects and public-private partnerships. Founded in 1992, Vermilion has successfully completed or is currently working on developments with a gross investment value exceeding $500 million.