The Meridian Residences Copy
Overview
The Meridian Residences represents a transformative development in the city's most sought-after district.
This 18-story luxury apartment complex will feature 156 premium units ranging from sophisticated studios to expansive three-bedroom penthouses.
Located at the intersection of commerce, culture, and connectivity, the property benefits from a Walk Score of 95, proximity to three major transit hubs, and immediate access to the city's premier dining, entertainment, and business districts.
Location
1250 Downtown Boulevard Metropolitan District
Total Raise
10B
Projected IRR
10B
Hold Period
10B
Equity Multiple
10B
Financial Highlights
$8,750,000
Projected NOI (Yr 5)
5.25%
Exit Cap Rate
Unit Mix & Pricing
Studio Apartments
450-550 sq ft
42 Units
$2,400-$2,800/mo
One Bedroom
650-800 sq ft
58 Units
$3,200-$3,800/mo
Two Bedroom
950-1,200 sq ft
44 Units
$4,500-$5,500/mo
Three Bedroom Penthouse
1,400-1,800 sq ft
12 Units
$6,800-8,200/mo
Timeline
Amenities
Q4 2024
Site Acquisition
Q2 2025
Construction Start
Q3 2027
Delivery & Lease-up
Q1 2028
Stabilization
Q3 2029
Projected Exit
·
Sky Garden Terraces
·
Private Parking Garage
·
Pet Spa & Dog Park
·
Concierge Services
·
Coworking Spaces
·
State-of-the-Art Fitness Center
·
Rooftop Pool & Lounge
·
24/7 Security
Marketing Analysis
45K
New Jobs Created (2024)
Strong employment growth driving rental demand
8.5%
Annual Rent Growth (3-Yr Avg)
Consistently outperforming metro average of 6.2%
3.2%
Submarket Vacancy Rate
Well below the metro average of 5.8%, indicating strong demand