VERVE Madison, completed and fully leased,
brings elevated student living to Downtown
Madison, WI at 506 West. Johnson Street. :
(Photos by VONDELINDE)
MADISON, WI – Subtext, a national
student housing and multifamily real estate company, and
Harrison Street, one of the leading investment management firms exclusively
focused on alternative real assets with approximately $55 billion in assets
under management, along with
architecture firm ESG Architecture & Design, announced the grand opening of VERVE
Madison, a 12-story student housing community located just two blocks from
the University of Wisconsin-Madison.
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| Neil Reardon |
The development, at 506 W. Johnson Street, benefited
from several development team partners local to Madison, WI, including Stevens
Construction Corp., general contractor; JSD Professional Services, civil
engineer; and Damon Farber, landscape architect. Harrison
Street served as the lead investor for
the development and Old National Bank acted as the lender.
The
278,143-square-foot community features fully furnished one-, two-, three-,
four- and five-bedroom apartments, totaling 536 beds across 142 units. The
development offers 100% bed/bath parity, a uniquely competitive offering in the
market, and 10,000 square feet of amenities, as well as ample vehicle, scooter
and bike parking for residents.
Apartment features include high-speed internet,
controlled access, and designer finishes such as modern black accents, energy
efficient stainless-steel appliances, and quartz counters with tile
backsplashes. Select premium units include features such as closet upgrades,
signature lighting enhancements, and private patios with hot tubs.
“From the
beginning, the design goal for VERVE Madison was to elevate the off-campus
student living experience from previously built projects between the University
and the capitol,” said Neil Reardon, Partner, ESG. “The goal was to
enhance amenity offerings and to create a modern, yet sophisticated design
aesthetic that brought a new perspective to student living in Madison.”
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| Ben Mohns |
“The
development, design, and construction phases came together seamlessly,” said
Tim VanMatre, Founding Partner, Subtext.
“Stevens Construction did a fantastic job mobilizing,
managing a complicated site, and achieving milestones. This all paved the way
for a highly successful leasing effort, thanks to our on-site management team's
expertise.
"The lease-up was not only swift but a
remarkable success, highlighting the building's exceptional quality and its
strong appeal to the student community. It also underscores the management
team's deep understanding of the residents—how to engage them and create a
truly unique experience.
”For me, that's what matters: building a dynamic
'live, learn, play' community that sparks excitement and maintains its vibrancy
for years to come.”
“The
successful completion and full occupancy of VERVE Madison is a clear indication
of the ongoing demand for high-quality student housing that enhances the
on-campus experience,” said Ben Mohns, Head of Asset Management-North
America at Harrison Street.
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Leisha McVicar
|
“VERVE Madison was developed with both residents and
the university in mind and serves as an extension of the vibrancy of the
region, underscoring our commitment to delivering student housing assets that
fit seamlessly with the
community.”
The
University of Wisconsin-Madison does not require freshman or sophomore students
to live on campus, so walkability was key to the development. Not only is VERVE
Madison 0.4 miles to the campus academic core, but the community is also
walking distance to State Street’s boutique shops, restaurants, and nightlife. The
project’s interior design is inspired by the location and the authenticity of
Madison, as well as the spirit of the students.
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Melissa Metzler
|
“The
design concept is, simply put, quintessentially Madison,” said Leisha
McVicar, Director of Interiors, Subtext.
“The artwork and custom graphics package is where we
got the most creative, with numerous ties to the university and the city of
Madison. They’re so subtle you probably wouldn't notice if you weren't a Badger
yourself.
"Lucky for us, we had several certified Wisconsin
Badgers on the team, and they were able to infuse little touches reflecting
their traditions throughout... ‘Jump Around’ lyrics wrapping the mail room, red
and white striped pants within the artwork, as well as a curation of vintage
paraphernalia like song books, letterman patches, and surrealist football
stadium portraits.”
Melissa
Metzler, Director of Interior Design, ESG, added, “It’s about a new
optimism, a new beginning, and also a nod to the importance of the past. We
celebrate eclecticism and modernism, creating spaces that residents will feel
connected to. Our design aims to be spirited and original, just like the
students that live there.”
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CONTACT: David Ebeling Ebeling Communications 949.861.8351 949.278.7851 (Cell) david@ebelingcomm.com Member of the National Association of Real Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate Industry: I do what I love and love what I do.”
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