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WISCONSIN MULTIFAMILY
October 21, 2021
M&R Development has begun welcoming its first residents to Elevate, a 270-unit luxury apartment building at 5022 American Parkway in Madison, Wisconsin. Located about 20 minutes from downtown Madison, Elevate marks M&R’s second new apartment building to open in Wisconsin in 2021. This summer, the company delivered 42 Hundred On The Lake, a 236-unit Class-A apartment building on Lake Michigan in St. Francis, Wisconsin, just five miles south of downtown Milwaukee.
A four-story building, Elevate offers one- and two-bedroom apartments with one to two baths measuring 590 to 1,254 square feet. Rents range from $1,205 to $3,199 and include upscale interior unit finishes and resort-style amenities that have appealed to students, professionals, young families and empty nesters looking for a stylish and maintenance-free home. In less than two months, phase one of Elevate is already 27 percent leased and more than 23 percent occupied.
All homes at Elevate feature kitchens with white quartz counters, tiled backsplash and modern cabinetry; cultured marble bathroom sinks with an integral wave bowl and subway tile design for the tub and shower surrounds; Ecobee smart thermostats; 9-foot ceilings; and full-size washers and dryers. Most apartments have balconies, while select units include walk-in closets. Residents also have access to underground, heated parking and storage lockers.
The centerpiece of the community is a two-story clubhouse, complete with an outdoor pool, grilling stations, fire pit and lounge seating. Inside, the clubhouse includes an entertainment kitchen; 24-hour coffee bar; state-of-the-art fitness center with cardio and weights; fitness studio/yoga room featuring on-demand programs; business center with private conference rooms and work stations; a pet washing station with grooming table and dryer; and a self-service package room with 24-hour access. An activity courtyard, which will feature a grilling station, bocce ball and bean bag courts, fire pit and table tennis, is located at ground level adjacent to the clubhouse.
Two decorated models are available for touring – a 632-square-foot one-bedroom design and a 1,057-square-foot two-bedroom floor plan.
Madison, Wisconsin-based Stevens Construction is serving as general contractor for Elevate with Midlothian, Virginia.-based Poole & Poole Architecture as the architect.
M&R Development is co-developing Elevate with Campbell Capital Group, LLC, while RMK Management is overseeing leasing and property management.