309-Unit Waterfront Community in Madison Celebrates Grand Opening

News| September 21, 2026| Jasmine Kilman

Chicago & Midwest + Apartment Buildings

Clarion Partners, Vermilion Development, and Quartz Lake Capital recently hosted a ribbon-cutting event at the newly opened multifamily community, The Duncan, at 1625 Lock Lane in Madison, Wisconsin.

Located on approximately 8.2 acres along Madison’s Isthmus, the 309-unit property offers lakeside living with proximity to downtown Madison. The Duncan includes studio, one-, two-, and three-bedroom residences, as well as townhome options.

The development brought together Vermilion Development, Clarion Partners, and Quartz Lake Capital as equity partners and CIBC as the lender. Potter Lawson served as the architect, and McShane Construction Company was the general contractor. JLL sourced the project’s equity and debt, and Greystar serves as the property manager.

“Our mission at Vermilion is to create spaces that enrich people’s lives, and The Duncan was designed specifically for Madison — connected to the lake, Tenney Park, trails, bikes and downtown,” said Dave Cocagne, President and CEO of Vermilion Development.

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