Clarion Partners Opens 309-Unit The Duncan in Madison Opportunity Zone
MADISON, WISCONSIN, SEPTEMBER 18, 2026 — 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 amenities including 2 fitness centers, bicycle storage, a pet spa and dog run, coworking and breakout spaces, a community garden, heated parking, and 2 rooftop terraces with grills, firepits, and views of Lake Mendota. Residents have direct access 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 announcement, Madison projects the addition of more than 9,300 households, approximately 18,400 people, by 2030 and 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."
Dave Cocagne, President and CEO of Vermilion Development, stated, "Two years ago, this was a vision on paper and a construction site. Today, it is 309 homes."
The development team 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 offers studio, 1-bedroom, 2-bedroom, and 3-bedroom residences, including townhome options. The property incorporates ENERGY STAR appliances, occupancy sensors in common areas, efficient natural-gas water heating, and WaterSense plumbing fixtures.