Clarion Partners and Partners Open 309-Unit The Duncan in Madison Wisconsin
Clarion Partners, Vermilion Development, and Quartz Lake Capital hosted a ribbon-cutting event for The Duncan, a 309-unit multifamily community located at 1625 Lock Lane in Madison, Wisconsin. The property sits within a federally-designated Qualified Opportunity Zone on approximately 8.2 acres along Madison’s Isthmus.
The community offers residents access to two fitness centers, bicycle storage, a pet spa and dog run, coworking and breakout spaces, a community garden, heated parking and two rooftop terraces with grills, firepits and views of Lake Mendota. The property is adjacent to Tenney Park, a 37-acre waterfront park with tennis, pickleball and basketball courts, a boat launch, playgrounds and an ice-skating rink.
Madison Mayor Satya Rhodes-Conway proclaimed August 13, 2026, as The Duncan Day in the City of Madison, according to the release.
The development comes as Madison projects the addition of more than 9,300 households, approximately 18,400 people, by 2030. The city has established a goal of creating 15,000 new homes by then.
“We believe residents will enjoy the many amenities that The Duncan provides, from its thoughtful design and social spaces to its sweeping views of Lake Mendota and Tenney Park,” said Clarion Partners Senior Vice President Ian McKay. “We’re proud to partner with Vermilion and Quartz Lake to bring this beautiful new property to life.”
“Two years ago, this was a vision on paper and a construction site. Today, it is 309 homes,” said Dave Cocagne, President and CEO of Vermilion Development. “But housing is about much more than a unit count. Our mission at Vermilion is to create spaces that enrich people’s lives, and The Duncan was designed specifically for Madison.”
The development partners included Vermilion Development, Clarion Partners and Quartz Lake Capital as equity partners, CIBC as lender, Potter Lawson as architect, and McShane Construction Company as general contractor. JLL sourced the project’s equity and debt, and Greystar serves as property manager.
The Duncan includes studio, 1, 2 and 3 bedroom residences, including townhome options. The community incorporates ENERGY STAR appliances, occupancy sensors in common areas, efficient natural-gas water heating and WaterSense plumbing fixtures.