NASHVILLE, Tenn.--(BUSINESS WIRE)--Chartwell Hospitality, in a joint venture with co-developer Southstar, broke ground on their $500 million Aureum Project. Aureum is a 22-acre mixed-use project that will offer residents unique living, working, and entertainment options in one premier location known as the “Golden Corner” of Franklin, TN.
Aureum’s first phase will consist of 355 residential units for sale and rent which Chartwell Residential will develop. The development will include office space, retail, and entertainment venues, along with two hotels to be developed by Chartwell Hospitality. In addition, Aureum will offer more than five acres of open space designated for parks, biking, and walking trails.
“We are the first-to-market with an all-in-one entertainment, hospitality, and residential community that hasn’t been seen before in this area,” said Rob Schaedle, President of the Chartwell Companies. “Studies done by the city predict Cool Springs will be the gateway to a popular and highly accessible submarket of Franklin, and we expect Aureum to be a popular choice for residents.”
“Partnering with the team at the Chartwell companies, the premier hospitality developer and an extremely active multi-family residential developer in our community, allows us to execute at the highest level,” said Glenn McGehee, President of Southstar. “Beyond our track record of building successful business relationships throughout Middle Tennessee and living here, we bring something that out-of-town developers can’t offer.”
The project sits at the southwest corner of Carothers Parkway and McEwen Drive in the Cool Springs market of Franklin, TN. Aureum offers residents and businesses a prime location with interstate access in one of the most popular locations in Cool Springs. The vertically integrated mixed-use project will reach 12 stories containing housing, commercial office space, and entertainment venues.
“It’s been Chartwell’s and Southstar’s pleasure to work hand in hand with the city in planning this development that captures the uniqueness of this property, including designated parks, trails, and open spaces, to offer residents a place to live, play, and work in of the most desirable locations in Franklin,” added McGehee.
About Chartwell Hospitality
Chartwell Hospitality LLC is a fully integrated Hotel Operating & Development Company. Chartwell’s portfolio includes 26 operating hotels as well as 7 hotels under development/construction, covering a geographic footprint that includes NY, TN, FL, NC, TX, MO, CO, and OK. Since our inception, Chartwell has successfully executed in excess of $1.75 billion in hotel development and acquisition investments.
Our growth and success are based on our mission to be the best in the business, as well as a commitment to constantly exceed the expectations of our investors, partners, guests, and associates. Chartwell Hospitality was founded in 2003 and is based in Franklin, Tennessee. Chartwell has in excess of 1,200 employees. For additional information about Chartwell Hospitality, visit www.chartwellhospitality.com.
About Chartwell Residential
Chartwell Residential specializes in developing, constructing, and managing high-quality multi-family and single-family residential development projects. Its mission is to deliver sustained value by selective land acquisition in targeted high-growth markets and the development, construction, and operation of high-quality residential projects that adhere to the highest quality and practice standards. Chartwell Residential’s in-house expertise and fully integrated structure give its team superior control over costs and timing throughout all stages of the development process. For more information, visit chartwellresidential.com.
About Southstar
The Southstar team has more than 85 years of combined expertise in real estate ownership, development, and investment. Since its founding in 2001, Southstar has developed or redeveloped more than 20 million square feet of commercial space across the Southeast with a combined value of more than $1 billion. Its projects are primarily concentrated in Middle Tennessee, with significant investment in mixed-use, retail, office, storage, and healthcare projects in Williamson County, TN. Southstar’s highest priority is developing projects that are a good fit for the local area and add value to the community. Visit southstarco.com.
