Vasari

A new opportunity in university markets.

01 · The opportunity

A new category:
recovery-first residences

The renter changed. Student housing development hasn't.

Problem
More beds, now commoditized

A decade of volume student housing built amenity checklists and shared beds. Drinking is down, wellness is up — and the renter moved on.

Opportunity
A new high-value renter

NIL and revenue-share now pay athletes like pros — joined by affluent students and a university medical workforce, all wanting recovery, privacy and design.

Solution
Vasari · intentional living

A real recovery club below, quiet-by-engineering homes above, a nutrition café at street level. Leased by the unit — pricing power from product, not discounts.

02 · The building

A beautiful health club — with residences above.

From rooftop to below grade — recovery built into every floor.

Rooftop · active
Padel courtSaunaCold plungeSunset lounge
Residences · L2–6 · 44 homes
Circadian lightingQuiet by engineeringClean air & waterSleep-first interiorsIn-unit laundryLobbyOS concierge
Health Club + Café · L1 · 6,911 SF
SleepSaunaCold plungeRed lightIV / NAD+MobilityRecovery loungeNutrition caféPrivacy
Structured parking · below grade
19 stallsEV-ready charging
Building by Olson Kundig · Health Club by SPX
03 · The flywheel

Vasari Flywheel

Drives demand, exclusivity, and organic brand growth.

Self-
reinforcing
growth

The club and athletes are the gateway — limited supply creates demand, demand raises prices, and exclusivity fuels the brand.

04 · The business model

Residential is the base. The operating layer is the upside.

Residential · 67%
Health club · 25%
8%
Stabilized revenue mix · ~$1.8M / yr · base case
Residential
67%
~$1.2M / yr
Leased by the unit · ~$2,615/mo avg 95% target occupancy Heated parking
Health club
25%
~$450K / yr
Healthclub membership · up to 300 @ $175/mo Day passes · classes & training Bath house & recovery
Café
8%
~$150K / yr
Premium coffee bar Recovery drinks & food Member charge accounts

LobbyOS runs concierge, booking & café — separable platform IP. Sponsor pro forma, base case.

05 · The first proof point

500 S Dubuque Street — the first Vasari.

44 recovery-appointed homes above a 6,911 SF health club in downtown Iowa City. Under construction, fully financed, and independently appraised — delivering August 2027.

Under construction Debt financed · ~75% LTC Independently appraised Delivers August 2027
Potential performance · sponsor pro forma
500 S Dubuque rendering
Olson Kundig · Health Club by SPX

Appraisal is residential-only and excludes the health club. Sponsor pro forma — illustrative, not an offer.

06 · The expansion playbook

A flagship now. A disciplined platform next.

Market University Status Fit

Each market is a ground-up build — or a unique remodel where the right asset exists. We enter only where demand, district, and site feasibility overlap.

Operating leverage · cost / building
First asset100%
At scale~80%
Shared procurement, one design package & team, and LobbyOS cut ~20% of cost per building at scale — so yield-on-cost rises.
Vasari

Intentional living, at scale.

Residences  ·  Health Club  ·  Café