theory-madison
- Facts and Figures
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Completion: June 2026
- Delivery Method
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Develop Design-Build
Completion: June 2026
Develop Design-Build
Situated in the heart of Madison, Wisconsin, the Theory Madison project represents a groundbreaking initiative aimed at maximizing the economic development potential of an underutilized site and addressing the City’s critical infrastructure needs. This visionary project reimagines the existing State Street Campus Garage and its surroundings to create a dynamic mixed-use space tailored to the diverse needs of residents, students, visitors, and businesses
The core of the project revolves around the integration of an intercity bus terminal, public parking structure and housing units. The 12-story building includes over 700 beds, 100 affordable beds for University students, 2 levels of loft apartment units, as well as two outdoor amenity terraces to take advantage of the remarkable views of the City, lakes, Capitol, and University. With Mortenson's meticulous planning and execution, the student housing units are slated for completion by summer 2026, perfectly timed to welcome a new wave of students for the academic year.
Theory Madison aligns closely with the City's vision for a thriving downtown district that balances economic growth, transportation efficiency, and community well-being. By strategically repurposing an aging City-owned asset and leveraging public-private partnership model, the project will achieve several key objectives.
Joining the family of Theory student housing developments, Theory Madison will provide an immersive living experience designed to nurture academic success, foster community engagement, and inspire personal growth. Construction of the parking structure marks the beginning of an exciting chapter for Theory Madison and the City of Madison. With Mortenson's meticulous planning and execution, the student housing phase of the project is slated for completion by summer 2026, perfectly timed to welcome a new wave of students for the academic year.
Nate Gundrum
Vice President, Markets Leader
Tom Sawatske
Capital Markets Executive
Kurt Theune
Vice President, General Manager
Dan Lessor
Vice President, Markets Leader
Rob Myers
Project Executive
Nate Podratz
Vice President, General Manager
Lizzy Polheber
Safety Director
Hunter Nielsen
Assistant Development Project Manager