A Milwaukee-based company announced Tuesday they will collaborate with a Chicago-based firm to develop and construct a new student housing development on the former location of the Stadium Bar.
The Opus Group along with Harrison Street Real Estate Capital, LLC, a Chicago-based real estate investment management firm, will build Varsity Quarters, a new student housing development adjacent to the University of Wisconsin-Madison campus, according to a release.
The housing development will be built at the former site of the Stadium Bar at 1423 Monroe Street, according to the release. The six-story private student housing development will include numerous amenities for tenants, including in-unit washers and dryers, parking for cars, bikes and mopeds, a fitness room, study rooms and a social/club room.
Officials said the development will include approximately 7,500 square feet of ground-floor retail space.
Groundbreaking is scheduled for this month and the building will be open for the 2014 school year.