MULTI HOUSING NEWS
By Anda Rosu
The developer's second property in Wisconsin was 27 percent leased upon completion.
M&R Development has opened its second luxury community in Wisconsin this year: the first phase of Elevate. The company worked with Campbell Capital Group to deliver the 270-unit property. RMK Management is handling leasing and property management.
Located at 5022 American Parkway, the property is 7 miles northeast of downtown Madison. The four-story community includes one- and two-bedroom apartments ranging from 590 to 1,254 square feet. The development was 27 percent leased upon completion.
All apartments have high-end finishes, 9-foot ceilings and washers and dryers. Most Toorplans include balconies and a number of units are equipped with walk-in closets. Elevate’s amenities include a two-story clubhouse with a fitness center, an outdoor pool, a business center, pet washing stations, heated parking and bike storage.
The property is 3 miles north of East Towne Mall and Global Market and Food Hall. Elevate is also near U.S. Highway 151 and 6 miles northeast of Dane County Airport. University of Wisconsin-Madison is less than 8 miles away.
Elevate fills a gap in the East Madison market, said Anthony Rossi Sr., managing partner for M&R Development, detailing how the area lacked Class A housing while benefiting from an influx of businesses and job growth. The company delivered 42 Hundred On The Lake in St. Francis, Wis., this spring.