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, Breaks Ground Immediately on 296‑Unit “Thatcher at Aureum” Luxury Apartments in Franklin
Embrey has secured financing and will start construction immediately on Thatcher at Aureum, a 296‑unit luxury apartment community inside the master‑planned Aureum development in Franklin’s Cool Springs neighborhood. The San Antonio‑based developer says first occupancies are expected in third quarter 2027.
Key project and financing facts
The apartment site will occupy roughly 3.8 acres within the larger Aureum master plan. Financing was internally originated through Texas Capital, with the loan sourced by Embrey team members. Construction will begin without delay now that funds are secured.
What residents will find
Thatcher at Aureum will offer a full mix of floorplans—studio, one‑, two‑ and three‑bedroom units—and a long list of planned amenities aimed at both remote workers and social residents. The community will include a private clubhouse and lounge with micro‑offices and conference space, plus a podcast studio, game room and a grab‑and‑go market.
Outdoor and lifestyle offerings will feature a resort‑style pool with spa, private cabanas and grilling areas, a rooftop terrace, gaming lawn, fitness center and yoga studio. Pet‑friendly amenities include a pet spa and a pet park. The site will also provide bike storage, a bike repair shop and a 24‑hour package room with refrigeration.
Site history and preservation
The project will preserve and restore a historic stone wall on the site to commemorate the City of Franklin’s heritage as part of the design and site work.
How Thatcher fits into the larger Aureum master plan
Thatcher at Aureum is one component of the larger Aureum Project, a 22‑acre mixed‑use development at the southwest corner of Carothers Parkway and McEwen Drive in Cool Springs. The total Aureum build is reported at roughly $500 million and will combine residential, office, retail, hospitality and open space.
Phase 1 of Aureum includes a 12‑story multifamily building with about 355 residential units (a mix of for‑sale and rental units) and is expected to be complete in about two years. At full buildout, Aureum is reported to total roughly 1.7 million to 1.75 million square feet, and plans have included targets such as 480 total residential units, 700 hotel rooms across two hotels, 750,000 square feet of office space and about 100,000 square feet of retail.
Market and timing context
The Aureum site is located in a fast‑growing suburban submarket about 16 miles south of downtown Nashville—roughly a 20‑minute drive depending on traffic—which has attracted new corporate investment and a large local construction pipeline. The larger development team restarted the Aureum multifamily effort after earlier pandemic‑era pauses and retooled plans to reflect evolving demand for live/work amenities.
Project team and roles
Embrey is the developer for Thatcher at Aureum and handled the loan origination through Texas Capital. The Aureum master development is being led by other developers, with a separate multifamily developer handling Phase 1. Work on the wider Aureum project has just gotten underway and will be delivered in multiple phases.
Frequently Asked Questions
What is Thatcher at Aureum?
Thatcher at Aureum is a 296‑unit luxury apartment community within the Aureum mixed‑use development in Franklin, Tennessee.
When does construction start and when will residents move in?
Construction starts immediately. First occupancies are anticipated in third quarter 2027.
How was the project financed?
Embrey secured financing via an internally originated loan through Texas Capital, arranged by members of the Embrey team.
What amenities will be offered?
Planned amenities include a private clubhouse with micro‑offices, conference rooms, a podcast studio, game room and grab‑and‑go market; a resort‑style pool and spa with private cabanas and grilling areas; rooftop terrace; gaming lawn; fitness center; yoga studio; pet spa and pet park; bike storage and repair shop; and a 24‑hour package room with refrigeration.
How does this project relate to the Aureum master development?
Thatcher at Aureum is one residential component within the 22‑acre, mixed‑use Aureum development. Aureum includes office, retail, restaurants, entertainment venues, two hotels and more than five acres of parks and trails.
Will the project preserve any historic features?
Yes. The project plans to restore and preserve a historic stone wall on the site as part of the development.
Key Project Features
| Feature | Detail |
|---|---|
| Project name | Thatcher at Aureum |
| Units | 296 luxury apartments (studio—3BR) |
| Site size | Approximately 3.8 acres |
| Developer | Embrey (San Antonio‑based) |
| Financing | Loan internally originated through Texas Capital |
| Construction start | Immediate |
| First occupancy | Anticipated Q3 2027 |
| Major amenities | Clubhouse with micro‑offices & conference space, podcast studio, resort pool & spa, rooftop terrace, fitness & yoga, game room, pet spa & park, bike storage & repair, 24‑hour refrigerated package room |
| Historic preservation | Restoration of historic stone wall on site |
| Master development | Aureum: 22 acres, ~$500M total project, office/retail/hotels/parks; Phase 1: 12‑story, 355 units |
| Location | Southwest corner of Carothers Pkwy & McEwen Drive, Cool Springs/Franklin, TN — about 16 miles south of downtown Nashville (approx. 20‑minute drive) |
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
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