Olmsted Sobro

Our Role

RPL assisted with pre-venture due diligence and provided oversight throughout design and construction representing an institutional equity investor.

Unique Approach

• Amazing design of common areas for residents
• Challenging site within up-and-coming section of downtown Nashville
• Local labor not experienced with building multi-story and larger residential structures

Outcomes

• Our advice help solve design and labor challenges
• Negotiated reduced change order costs and damages impacts for ownership
• Ensured project completed on time
• Sold quickly for profit to client

Scope of Work

Development of new 5-stories of wood framed units over concrete podium constructed in an up and coming area of downtown Nashville, Tennessee. Unique common areas including study seating inside large concrete pipes, exercise with indoor rock-climbing wall, courtyard pool with cabana and stage for resident and visitor performances.

Project Summary

• Client: One of the largest institutional private equity investment firms
• Location: Nashville, TN
• Size: 5 floors, 328 apartments, 260,000 sf
• Expansion: Nov 2015 to May 2018
• Services: Due diligence and development oversight
• Cost: $70 million
• Architect: Davis Architects
• Contractor: Cambridge Swinerton Builders
• Project Description: 328 “Class-A” for-rent residential units housed in five stories of wood construction over 2.5-story concrete podium