Collaborative partners gathered Thursday for the grand opening of the Bankston Apartments, a new multifamily complex that adds 40 new residential units, 30 of them reserved for households earning at or below 80% of Dane County’s median income.
Representatives of Madison Development Corp., SSM Health, Lake Ridge Bank and other community partners were in attendance as the $11.2 million complex opened at 429 W. Mifflin St.
The complex, named in honor of longtime MDC board member Vicki Bankston, includes community art spaces and local art that pay homage to the history and character of the downtown neighborhood. Artistic touches include restored stained-glass windows and the photography of Madison artist Matt Perrin.
Amenities include a fitness room, in-unit laundry, on-site parking and bicycle storage.
The opening expands the housing portfolio of Madison Development Corp., a nonprofit organization that promotes the construction of workforce housing.
“The Bankston is more than an apartment building,” Lorrie Heinemann, president and CEO of Madison Development Corp., said in a press release. “It is a place that honors the neighborhood’s history while creating new opportunities for people who want to live and work in downtown Madison.”
Project partners also include the Dane Workforce Housing Fund II, Knothe Bruce Architects and Connery Construction.
