Foundry Lofts
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Foundry Lofts

Ann Arbor, MI

Residential – Student Housing

Due Diligence Support and Project Management


RPL provided diligence and consulting services during completion of development prior to client acquisition of property and management of several upgrades over multiple years on behalf of an institutional equity owner.

Unique Approach

  • Complicated relationships during completion of development and acquisition timeline.
  • Involvement in punch list and leadership in resolving façade and mechanical matters.
  • Managed upgrades and improvements to common areas.
  • Oversaw build out of two retail spaces.


  • Building occupied
  • Common areas improved
  • Tenant spaces opened for business

Scope of Work

Development of a 14-story apartment building for student housing near the University of Michigan.  Property includes underground parking, leasing office, fitness center, study areas, coffee bar, tanning station, and rooftop spa deck, as well as ground floor retail for a restaurant and convenience store.

Project Summary

  • Location: Ann Arbor, MI
  • Size: 531 beds, 14 floors, 198,000 sf
  • Timeline: 2015 to 2019
  • Services: Due Diligence Support and Project Management
  • Cost: $86 million
  • Client: One of the largest institutional private equity investment firms
  • Architect: Humphreys and Partners Architects
  • Contractor: O’Neal Construction