CRG to Develop 534-Bed Madison Student Housing Community
Old National Bank, Johnson Bank and Bremer Bank provided financing for the project.
Chapter at Madison. Image courtesy of CRG
CRG has acquired a 0.8-acre site for the development of Chapter at Madison, a 534-bed student housing community in Madison, Wis.
Old National Bank, Johnson Bank and Bremer Bank have provided financing for new development. Construction is scheduled to begin in December, with completion anticipated in 2024, to coincide with the start of the 2024-25 academic year.
The 10-story development will encompass 165 units, with a mix of studio to five-bedroom apartments. Units will be equipped with laundry facilities, tech features and stainless steel appliances.
Community amenities will include a fitness center with a yoga studio, study spaces, conference rooms, a rooftop terrace, a parking garage with EV charging stations, as well as 2,200 square feet of commercial space. Findorff Construction is the general contractor for the project, which has been designed by architecture firm Lamar Johnson Collaborative.
Chapter at Madison will replace three existing buildings at 802, 822 and 826 Regent St., as well as two rental houses at 816 and 818 Regent St. within the Greenbush neighborhood. The development will be within walking distance of the University of Wisconsin–Madison and less than a mile from downtown.
The university is one of the nation’s top institutions for rent growth, with an 11.2 percent rent increase as of September, according to a recent Yardi Matrix report. Currently, there are 21 properties serving the University of Wisconsin–Madison students, totaling almost 6,430 bedrooms, Yardi Matrix data shows. Atmosphere Madison, a 681-bed community developed by Harrison Street and Trinitas Ventures, is currently under construction, with an expected delivery next year.
