Forging a Departure From Other Properties’ Sameness
- May 11, 2015
Atlanta—Cocke, Finkelstein Inc. and Llewellyn Development are partnering to develop a new Olmsted apartment community in the south of Broadway or “SoBro” enclave of Nashville, reports Atlanta-based Cocke, Finkelstein, Inc.
“Cocke, Finkelstein Inc. and Llewellyn Development teamed up for this project because we love what is happening in Nashville,” Brett Oliver, Cocke, Finkelstein director of development, told MHN. “We see it as perhaps the best example of the cultural shift taking place in the U.S., where people are moving back to the city and demanding an urban lifestyle. They’re tired of being stuck in a car, or living in suburbs that all look the same.”
As part of this cultural shift, Oliver said, forward-looking companies are recognizing they must locate where top talent wants to live. “The old adage of people following jobs has changed,” he observed. “Top talent is choosing a city and its lifestyle and then the job. Since Nashville has this appeal in abundance, with its rich entertainment opportunities, walkable environment to restaurants, shopping, bars and more, it has seen a huge influx of talent and numerous major corporate relocations. Our site in SoBro is right in the middle of this.”
SoBro is one of the last areas linking the Gulch to downtown Nashville, Oliver noted. Within a half mile of the property, 2.1 million square feet of new Class A office space is being developed. Six new hotels, a new 5,500-seat riverfront amphitheater and an array of new eateries and nightspots will beckon to residents. “Our site is perfectly located and will offer residents convenient access to all the city’s amenities and the urban lifestyle they seek,” he added.
The opportunity facing developers is that Class A apartment buildings tend to be marked by homogeneity, added Neil Herceg, Cocke, Finkelstein Inc. chief investment officer. Nashville, with its eclectic culture, is the ideal place to unveil the next installment of Cocke, Finkelstein’s new apartment brand, he noted.
The concept behind the Olmsted brand, named for Frederick Law Olmsted, founder of American landscape architecture and chief architect of New York’s Central Park, is based on forging a departure from other properties’ sameness. It presents residents with public spaces delivering the energetic vibe of boutique hotels, chef-driven restaurants and locally-owned coffee shops.
“It is carefully designed to create engaging environments that invite residents to unwind and relax,” Oliver said. “We think our target audience, the young professional, urban renter, will absolutely love to call this place home. They crave uniqueness and character, and avoid anything commodity.”
The Olmsted is a national brand with a local feel. Each Olmsted property is designed to offer signature and localized design elements that evoke a strong sense of place and establish genuine ties to the neighborhood, Oliver said.
According to Terrence Llewellyn, managing member of Llewellyn Development, LLC, in Charlotte, N.C., the land for Olmsted SoBro is under contract and fully entitled for an apartment community.
Said Herceg: “We’re just incredibly excited to be part of the explosive growth continuing to happen in Nashville, both culturally and economically, and to give the city a product it wants.”