Foundry Lofts

Purpose-built for student housing a few blocks from the University of Michigan’s main campus. 

The building features furnished apartment units and extensive amenities including a lobby, fitness center, study areas, coffee bar, tanning station, outdoor pool and deck, and two rooftop decks with great views of the Big House football field.  Structured parking is provided underground along with retail tenant spaces at the street level.

Our client, an institutional equity owner, bought the property when construction was about 70% completed.  Purchasing a project in progress can be risky as a buyer must rely on plans and specifications for the end product vision while vetting the quality of construction and likelihood of completion (especially important with a student move-in deadline).

RPL shepherded technical diligence among multiple consultants, not only to acquisition closing, but through completion of work and occupancy by students and retail owners.  And for almost a decade, we continued to advise on and oversee improvements including HVAC, exterior elements, interior amenities and retail spaces.