Clarion Partners, Vermilion Development, and Quartz Lake Capital Announce Opening of The Duncan

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309-Unit Waterfront Community in Madison, WI Now Open Near Tenney Park and Lake Mendota NEW YORK, May 27, 2026--(BUSINESS WIRE)--Clarion Partners, a leading real estate investment manager and partially owned subsidiary of Franklin Templeton, Vermilion Development, a full-service real estate investment and development company, and Quartz Lake Capital, a private equity real estate investor and manager, announce the opening of The Duncan, a 309-unit multifamily community located within a federally-designated Opportunity Zone at 1625 Lock Lane in Madison, Wisconsin. Overlooking Lake Mendota and situated across from historic Tenney Park, The Duncan offers residents a distinctive lakeside living experience with proximity to downtown Madison. The community is designed to connect residents with outdoor recreation, neighborhood amenities and employment centers. The project reflects the partnership’s focus on well-located housing in dynamic, high-demand housing markets. The Duncan includes 309 apartment homes in a mix of studio, one-, two-, and three-bedroom residences, including townhome options. Homes feature open-concept layouts with elevated finishes, with many residences offering views of the Capitol Building, Tenney Park or Lake Mendota. Community amenities include a fitness center, club room, co-working space, sky lounge with outdoor terrace, heated vehicle and bike parking, an expansive outdoor amenity area with fire pits and grilling stations, a fenced dog run and community gardens. "The Duncan reflects our continued conviction in high-quality housing located in markets supported by strong fundamentals and enduring resident appeal," said Clarion Partners Managing Director Jason Glasser. "With its idyllic waterfront setting and access to the broader Madison area, the community is well positioned to meet the needs of today’s renters." The opening of The Duncan adds new housing to one of Madison’s most desirable waterfront corridors, where residents value recreation, connectivity and neighborhood character. With its blend of modern apartment living and proximity to the lake, riverfront, park space, and downtown, The Duncan offers a differentiated residential experience in a market defined by strong demand and limited supply. "The Duncan represents the kind of placemaking we strive for—thoughtfully designed housing that is connected to...

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