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Sunday, April 28, 2024

High-rise apartments transform student housing options in downtown Madison

Each day, Carli Morgan wakes up to a sweeping view of downtown Madison from the window of her eighth-floor apartment. However, the UW-Madison sophomore's peaceful mornings are interrupted when she walks to class past soaring cranes and jackhammers, as construction continues on a flurry of new high-rise buildings near campus. 

 

Morgan lives at the Embassy apartments at 505 University Ave., one of almost a dozen high-rises built in the last decade as part of a city strategy to boost housing options near campus. 

 

Because so many students live [near campus], it's more likely your friends will live close by. Even if it's not in the same building, there's at least four high-rise apartments right here,"" she said. 

 

According to University Housing, nearly 22,000 undergraduates live in off-campus housing. To address the housing demand, the Madison City Council has endorsed higher-density urban development near campus with the approval of many high-rises over the last several years. 

 

In 2001, the Embassy became one of the first downtown student apartment towers. It has since been joined by several other mini high-rises, including the 12-story Equinox at 409 W. Gorham St. and the 14-story Lucky Apartment complex, scheduled to open this fall. 

 

Ald. Eli Judge, District 8, a member of the city's Housing Committee, said part of the city's plan is to relocate students from rental homes in older, surrounding neighborhoods to newer housing developments closer to campus.  

 

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""The campus is surrounded by a bunch of neighborhoods - many of them are occupied by students or renters,"" Judge said.  

 

""And a lot of the houses quickly degrade in quality for every year that students are in them."" 

 

This new development cycle was evident in January when a local real estate group received approval from the city to construct a new 14-story, 169-unit apartment building on the northeast corner of West Johnson and Mills Street.  

 

The project, titled ""The Ten Twenty-Two,"" will be built partially on a vacant parking lot and will replace two older houses. 

 

""Developing a high-rise helps upgrade the quality of housing in the immediate campus area,"" said Bill White, the process consultant for the Ten Twenty-Two. Construction of the apartments began in April and will be targeted toward the university community.  

 

The new apartments also create competition between landlords and could drive down the cost of high-quality student housing. 

 

""When demand is so great that the apartments outnumber the apartment seekers, the people who supply the apartments will have to start reducing prices,"" said Joseph Lindstrom, chair of the Student Tenant Union, an organization that seeks to resolve issues between students and local landlords. 

 

According to Lindstrom, Madison has one of the most expensive rental housing markets in the Midwest. Because the city lies on an isthmus, he said city officials have worked with university and private contractors to develop high-rises as the most efficient type of housing for the growing student market. 

 

""Students like living near campus, and therefore construction is always in demand. The more units on line means rents will go down,"" said Margaret Watson, chief operating officer for Steve Brown Apartments, which will manage the new Lucky Apartments. 

 

Lindstrom said he thinks large apartment complexes, like Lucky, generally offer students better amenities and more stable management than smaller rental ownership because of the sheer number of tenants.  

 

Morgan, who will live in a flat on Johnson Street next year, says students can also find cheaper rents if they simply wait to sign leases.  

 

""If anyone was thinking of signing up for a high-rise apartment, I would definitely hold off because they have more than ample space for everyone,"" she said.

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