Development

The Village at Apison Pike

CHATTANOOGA, TENNESSEE

Property Overview

Constructed in 2016, The Village at Apison Pike is a Class A, multifamily apartment project located 10 miles east of downtown Chattanooga in charming Ooltewah, Tennessee. This 248-unit property features pet-friendly one-, two-, and three-bedroom floorplans that are stylish and spacious. Residents can enjoy perks like detached garages and covered parking with resort-caliber bonuses, including a swimming pool with poolside cabanas, a state-of-the-art fitness center, and a gated community.

 

The Village at Apison Pike is situated in a rapidly expanding area of the city, with access to a strong school system and highly-rated employers.
Location
CHATTANOOGA, TENNESSEE
Property Type
Luxury Suburban, Garden Style Apartments
Project Type
Development
Year Built
2016
# of Units
248
Development Period
39 Months

Project Outcome

The Village at Apison Pike was another successful new development project that StoneRiver executed from site identification through disposition. This asset was located in a burgeoning submarket in Northeast Chattanooga near several major employers new to the area.

 

The delivered product was another home run, a best-in-class asset that achieved a phenomenal lease-up. The property was sold simultaneously to stabilization in early 2016. An attractive IRR and equity multiple were delivered to its investors. Through its experience developing, managing, and selling this property, StoneRiver obtained an expert level of proficiency in the Chattanooga market.