Franklin, Tennessee, October 5, 2025
News Summary
Embrey has secured financing through an internally originated loan with Texas Capital and started immediate construction on Thatcher at Aureum, a 296‑unit luxury apartment community in Franklin’s Cool Springs neighborhood. The site occupies about 3.8 acres within the 22‑acre Aureum master plan and will offer studio through three‑bedroom units. Planned amenities include a private clubhouse with micro‑offices and conference space, podcast studio, resort‑style pool with private cabanas, rooftop terrace, fitness and yoga studios, pet spa and bike facilities. The design will preserve and restore a historic stone wall. First occupancies are anticipated in the third quarter.
Embrey Secures Financing for 296‑Unit Thatcher at Aureum in Franklin; Construction Starts Immediately
San Antonio‑based developer Embrey has secured financing to build Thatcher at Aureum, a 296‑unit luxury apartment community within the master‑planned Aureum development in Franklin, Tennessee. Construction will begin immediately on the roughly 3.8‑acre site and the first occupancies are expected in third‑quarter 2027.
Key financing and developer details
The construction loan was internally originated through Texas Capital, with Embrey staff Garrett Karam and Brad Knolle leading the origination. Embrey is both the project developer and the entity moving the apartment portion forward as part of the larger Aureum master plan.
Where the project sits and what it will offer
Thatcher at Aureum sits inside the 22‑acre Aureum mixed‑use site at the southwest corner of Carothers Parkway and McEwen Drive in Franklin’s Cool Springs neighborhood, roughly 16 miles south of downtown Nashville and about a 20‑minute drive depending on traffic. The apartment project will offer a mix of studio, one‑, two‑ and three‑bedroom floorplans designed for a range of households.
Amenities and community features
The development will emphasize lifestyle and work‑from‑home support. Resident amenities include:
- Private clubhouse and lounge with micro‑offices and conference space
- Podcast studio, game room and grab‑and‑go market
- Resort‑style pool with spa, private cabanas and grilling areas
- Rooftop terrace and a gaming lawn
- Fitness center and yoga studio
- Pet spa and pet park
- Bike storage and a bike repair shop
- 24‑hour package room with refrigeration
The project will also restore and preserve a historic stone wall on the site to acknowledge the City of Franklin’s heritage.
How Thatcher fits into the larger Aureum plan
Aureum is a $500 million mixed‑use development led by developers Chartwell Hospitality and Southstar. At buildout the master plan is reported to cover roughly 1.7 million to 1.75 million square feet and is expected to include:
- 480 residential units total at full buildout
- 700 hotel rooms across two hotels
- 750,000 square feet of office space
- 100,000 square feet of retail
- More than 5 acres of parks and open space with walking and biking trails
The first phase of Aureum includes a 12‑story multifamily building with 355 residential units for sale and rent; that phase is expected to be complete in roughly two years from the time the phase work began. The broader Aureum project will include office space, shopping and entertainment venues, restaurants and two hotels.
Timeline and next steps
With financing in place and construction set to begin immediately on Thatcher at Aureum, the developer anticipates delivering initial units for occupancy by Q3 2027. Work on the larger Aureum development has already started, marking a return to forward progress after earlier delays and design retooling that followed the pandemic pause in 2020.
Market context
The Nashville region has seen robust residential demand and a large construction pipeline in recent years, factors that helped shape the planning for Aureum and its multifamily components. Local employment growth and corporate investment have supported demand for new housing options in suburbs like Cool Springs, which provide direct access to freeway routes and regional job centers.
What to watch
- Construction milestones and community marketing for initial lease‑up targeting Q3 2027 occupancies
- Development sequencing across the Aureum master plan, including commercial, retail and hotel components
- Retention and restoration efforts for the site’s historic stone wall as the project proceeds
FAQ
What is Thatcher at Aureum?
Thatcher at Aureum is a 296‑unit luxury apartment community being developed by Embrey within the Aureum master plan in Franklin, Tennessee.
When will construction start and when are apartments expected to be ready?
Construction begins immediately and the first occupancies are expected in Q3 2027.
Who financed the project?
The construction loan was internally originated through Texas Capital, with Embrey team members leading the origination.
What types of apartments and amenities will be offered?
The community will offer studio through three‑bedroom floorplans and a long list of amenities including a clubhouse with micro‑offices, podcast studio, resort‑style pool, rooftop terrace, fitness and yoga studios, pet facilities, bike storage and a refrigerated package room.
How does this apartment project relate to Aureum?
Thatcher at Aureum is the multifamily component inside the larger Aureum mixed‑use development, which will include office space, retail, hotels and public open space across about 22 acres.
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Key features at a glance
| Feature | Detail |
|---|---|
| Project name | Thatcher at Aureum |
| Units | 296 luxury apartments |
| Site size | ~3.8 acres |
| Developer | Embrey (San Antonio‑based) |
| Financing | Loan internally originated through Texas Capital |
| Start of construction | Immediate |
| First occupancy | Q3 2027 (anticipated) |
| Amenities | Clubhouse, podcast studio, pool, rooftop terrace, fitness, pet spa, bike shop, refrigerated package room |
| Master plan | Aureum — 22 acres, $500M, mixed‑use with offices, retail, hotels and parks |
| Historic feature | Restoration and preservation of a historic stone wall on site |
Deeper Dive: News & Info About This Topic
Additional Resources
- ReBusiness Online: Embrey Secures Financing for Thatcher at Aureum
- Wikipedia: Franklin, Tennessee
- Multifamily Dive: $500M Mixed-Use Plan Near Nashville Kicks Off with 12-Story Tower
- Google Search: Aureum Cool Springs development
- Multi-Housing News: JV Breaks Ground on Tennessee Community
- Google Scholar: mixed-use development Franklin Tennessee
- Nashville Post: Cool Springs Eyed for $700M Project
- Encyclopedia Britannica: Franklin, Tennessee
- Williamson Herald: BOMA Approves Aureum/Ovation Plans on 2nd Reading
- Google News: Aureum Cool Springs
Author: Construction CA News
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