M&R Development has announced the opening of Elevate, a 270-unit luxury apartment community in Madison, Wisconsin, for new resident move-ins.
The community is located approximately 20 minutes from downtown Madison and offers one- and two-bedroom apartments with one to two baths, ranging from 590 to 1,254 square feet in size. Units feature high-end finishes, including quartz countertops, cultured marble bathroom sinks with integral wave bowls, ecobee smart thermostats, full-size washers and dryers, and 9-foot ceilings. Most have balconies, and select units have walk-in closets.
In less than two months, according to M&R Development, the four-story building’s first phase is 27% leased and more than 23% occupied.
“We couldn’t be happier with how our first two ground-up projects in Wisconsin turned out, and the timing couldn’t have been better for residents, many of whom have been opting to work remotely and were in desperate need for a new work-from-home environment conducive to their needs,” says Anthony Rossi Sr., managing partner for M&R Development. “While Madison’s east side has seen an influx of new businesses and increased job growth, it’s lacked new Class A housing stock. With Elevate, renters can find the extra space and great on-site amenities that enhance their new hybrid or remote-work lifestyle—from units that offer private terraces and plenty of room for a home office, to the building’s clubroom with its fitness center, pool, and entertainment areas.”
The two-story clubhouse features an entertainment kitchen, a 24-hour coffee bar, a fitness center and studio, a business center with private conference rooms and work stations, a pet washing station, and a 24-hour self-service package room. An outdoor pool, grilling stations, a fire pit, and lounge seating are located just outside.
According to Rossi, the community’s proximity to the American Family Insurance headquarters and a University of Wisconsin-Madison health clinic is driving demand for its new apartments. “More than 70% of Madison residents commute to work via car, but that’s most likely out of necessity,” says Rossi. “Elevate provides a new housing option for employees of these nearby businesses who would prefer to walk to work.”
Elevate is the second new M&R apartment community to open in Wisconsin this year, following the opening of 42 Hundred on the Lake, a 236-unit building on Lake Michigan in St. Francis this summer. Stevens Construction is serving as the general contractor, Poole & Poole Architecture as the architect, RMK Management as the leasing and property manager, and Campbell Capital Group as the co-developer.