Vasari — Operational Command Center

Project Overview

44-unit luxury wellness residence — Riverfront Crossings District, Iowa City

Total Dev Cost

$21.2M

$481K/unit

Stabilized Value

$33.5M

5.25% cap rate

Yield on Cost

8.29%

Stabilized NOI / Cost

Units

44

6 stories

Target Completion

Jun 2027

~14 months

Project Identity

Address	500 S Dubuque St, Iowa City, IA 52240
District	Riverfront Crossings
Type	Luxury multifamily — wellness-focused
Stories	6 stories over grade
Architecture	Olson Kundig (design) + Slingshot (AoR)
GC	Hodge Construction
Interiors	Chuck Marie Studio
Wellness	SPX Gym Design

What Makes Vasari Different

19 amenities vs. closest competitor at 5 (The Hive)
Olson Kundig — AD100 17x, Amazon Spheres, LeBron James Innovation Center
LobbyOS — proprietary AI platform replacing $20K-$39K/yr in software
24/7 AI Concierge — SMS + iMessage, 90% L1 energy savings
Wellness Club — 6,911 SF: Pilates, sauna, plunge, IV/NAD+ recovery
Health-forward cafe — in-building F&B, $12 avg ticket
In-unit wellness — circadian lighting, sleep optimization, air/water purification
Smart home — chef kitchens, spa bathrooms, IoT integrated

Development Cost Breakdown

GC Construction — $14,916,067

GC (70.4%)$14.9M

Owner Direct — $6,269,010

Owner (29.6%)$6.3M

Includes land, soft costs, FF&E, reserves, financing

Unit Mix & Pricing

44 units across 4 floor plan types — premium positioning in Iowa City market

Type	Units	% Mix	Sq Ft	Rent/Mo	$/SF	Annual Revenue
Studio	4	9%	405	$1,958	$4.83	$93,984
1 Bedroom	20	45%	660	$2,420	$3.67	$580,800
1 Bed + Den	16	36%	710	$2,650	$3.73	$508,800
2 Bedroom	4	9%	945	$3,455	$3.66	$165,840
Total / Avg	44	100%	686	$2,557	$3.73	$1,349,424

Premium positioning: Vasari's average rent of $2,557/mo is 2-3x Iowa City market averages. This is intentional — Vasari targets young professionals and health-conscious adults, not the student housing market. Closest comparable is The Nest at $1,935/mo for a 1BR.

Revenue Add-Ons (Projected Adoption)

Service	Price/Mo	Adoption	Units	Annual Rev
Laundry Service	$100	50%	22	$26,400
Housekeeping	$300	40%	18	$64,800
IV/NAD+ Therapy	$300	20%	9	$32,400
Pet Rent	$75	35%	15	$13,500
Total Add-On Revenue				$137,100

Cafe Revenue Projection

Avg Ticket	$12
Daily Transactions	100
Operating Days	360/yr
Annual Gross	$432,000

Total Revenue Potential

$1.92M

Rent + Add-Ons + Cafe

Financial Summary

10-year NOI projections from appraisal — stabilized by Year 3

Year 1 NOI

$1.47M

Lease-up year

Year 3 NOI

$1.76M

Stabilized

Year 10 NOI

$2.15M

Mature operations

Stabilized Value

$33.5M

5.25% cap

10-Year NOI Trajectory

Year	NOI	YoY Growth	Notes
Year 1	$1,472,000	—	Lease-up
Year 2	$1,614,000	+9.6%	Stabilizing
Year 3	$1,756,000	+8.8%	Stabilized
Year 5	$1,888,000	+3.7%
Year 7	$2,015,000	+3.4%
Year 10	$2,149,000	+2.2%

Return Metrics

Cap Rate (Stabilized)	5.25%
Yield on Cost	8.29%
Total Development Cost	$21,185,077
Cost per Unit	$481,479
Stabilized Value	$33,450,000
Value Creation	$12,264,923

Software Cost Savings (LobbyOS)

LobbyOS replaces multiple third-party tools:

PMS (Yardi/AppFolio)	$8,000–$15,000/yr
Resident Portal	$3,000–$6,000/yr
Maintenance System	$2,000–$4,000/yr
Smart Home Platform	$5,000–$10,000/yr
Touring/Leasing	$2,000–$4,000/yr
Total Savings	$20,000–$39,000/yr

Plus 75% management fee add-back from AI-powered operations

Amenities & Wellness

19 amenity features — 3-4x more than any Iowa City competitor

Wellness Club — 6,911 SF

State-of-the-art Fitness CenterCore
Heated Reformer Pilates (12 stations)Premium
Recovery Room — Sauna & Cold PlungePremium
Recovery Lounge — IV/NAD+ TherapyPremium
Yoga & Meditation StudioCore

Designed by SPX Gym Design — specialists in wellness facility programming and operations

In-Unit Wellness Technology

Circadian Lighting SystemSmart
Sleep OptimizationSmart
Air PurificationHealth
Water PurificationHealth
Smart Home Integration (IoT)Smart
Chef KitchenDesign
Spa BathroomDesign

Building Amenities

Health-Forward CafeF&B
Rooftop TerraceSocial
Co-working LoungeWork
Package LockersOps
Secure Bike StorageOps
EV ChargingOps
Pet SpaPremium

Competitive Amenity Matrix

Property	Amenities	Tech Features
Vasari	19	21
The Hive	5	3
The Nest	3	1
Replay	8	2
RISE	6	2

Timeline & Milestones

Construction timeline — demolition through first residents

Construction Schedule

March 2026

Demolition Started

Existing structure cleared. Site preparation underway.

April - May 2026

Foundation & Structural

Foundation pours, structural steel/framing begins.

June - September 2026

Vertical Construction

Floors 1-6 framing, MEP rough-in, exterior envelope.

October 2026 - February 2027

Interior Build-Out

Drywall, finishes, kitchen/bath installs. CMS procurement and CA.

March - May 2027

Fit-Out & Commissioning

FF&E install, smart home setup, LobbyOS integration, punch list.

June 2027

Target Completion

Final inspections, CO, building handover.

July - August 2027

First Residents

Move-in begins. Lease-up period starts.

Design & Interiors

Chuck Marie Studio — interior design phases (March - October 2026)

CMS Interior Design Schedule

MarAprMayJunJulAugSepOctNovDec

Schematic Design

SD

Design Development

DD

Construction Docs

CD

Pricing / VE

P/VE

Construction Admin

CA

Procurement

Ongoing

All 44 units furnished by Chuck Marie Studio. Hospitality-grade interiors (Woodlark Hotel pedigree).

Chuck Marie Studio

Portland-based hospitality interior design firm. Known for Woodlark Hotel (Portland), residential luxury projects.

All 44 units fully furnished
Common areas: lobby, cafe, co-working, wellness club
Material selections, FF&E specification
Construction administration through completion

Olson Kundig

Seattle-based architecture firm. One of the most awarded in the world.

AD100 Hall of Fame (17 consecutive years)
AIA National Architecture Firm Award
Amazon Spheres, LeBron James Innovation Center
Six Senses RiverStone (luxury hospitality)

Development Budget

$21.2M total development cost — tracked in P500 budget app

GC Construction — $14,916,067

Hodge Construction — general contractor, Iowa City based

% of Total Budget70.4%

Owner Direct — $6,269,010

Land, soft costs, FF&E, reserves, financing

% of Total Budget29.6%

P500 Budget App: Full construction budget management at budget-app-production-c779.up.railway.app. React + Express + MariaDB, 33 database migrations, 35+ vendor quotes tracked. AI-powered PDF/Excel extraction for bid data. Connected to LobbyOS PostgreSQL for investor data.

P500 App — Full Capabilities

Cost Control

CSI-division budgets
35+ vendor bids tracked
Locked budgets vs. forecasts
Variance analysis
Cost per unit + per SF metrics
GL import reconciliation
Scope gaps & VE log

FF&E & Finishes

Product catalog (4 vendors)
9 finish sections
AI-powered FFE extraction
FFE chat with Claude
Excel spreadsheet import
Budget rollup sync

Documents & AI

PDF/CSV/Excel upload
AI bid data extraction
Contract clause review
AI Copilot (Claude tools)
Spec document linking
Daily digest emails

Bid Management

Review / Recommended / Awarded / Rejected
Decision history with reasoning
Comparable bid flagging
Vendor contact directory

Schedule & Draws

Milestone tracking
Gantt timeline view
Draw request tracking
Pay app generation (Excel)

Investor Portal

Read-only budget dashboard
Lender fund draw tracking
Connected to LobbyOS DB
Daily digest notifications

LobbyOS Platform

Proprietary AI-powered property operations platform — live at app.vasari.club

API Endpoints

180+

23 route files

Database Tables

30+

Drizzle ORM

Doc Sections

27

system-flows.html

Tests

1,580

Vitest

Commits

349+

45+ PRs merged

Software Savings

$20-39K

per year

Tech Stack

Frontend	React 19 + Vite 7 + Wouter + TanStack Query + Zustand
UI	shadcn/ui + Radix UI + Tailwind CSS 4
Backend	Express 5 + TypeScript
Database	PostgreSQL 16 + Drizzle ORM
AI	Anthropic Claude (primary) + xAI Grok (fallback)
Messaging	Twilio SMS + Loop Message (iMessage)
Voice	Retell AI (inbound/outbound calls)
Hosting	Railway (production on main branch)

Admin Modules

Inbox — Conversations + real-time SSELive
People — Leads, residents, staffLive
Property — Units, parking, leasesLive
Wellness — Classes, memberships, passesLive
AI Config — Soul editor, rules, knowledgeLive
Insights — Analytics, costs, agents, logsLive
Dev — Roadmap, releases, test, architectureLive
Cafe — Menu + ordersSeeded

System Flows — 27 Documented Sections

Full interactive documentation at app.vasari.club/docs/system-flows.html

Flows (8)

AI Concierge
Resident Journey
Guest Authorization
Maintenance
Wellness & Membership
Community & Events
Payments & Billing
Admin Tools & Config

Operations (4)

Escalation System
SMS Compliance (TCPA)
AI Configuration
Welcome Sequences

Technical (8)

Architecture
Integrations
Data Model
Webhooks
Background Agents
API Reference
Navigation
Dev Workflow

Reference (7)

Human-in-the-Loop
Release Notes
Local Dev Setup
Troubleshooting
Security Model
Env Variables
Test Accounts

AI Concierge — "Vasari"

Single phone number handles leasing, resident services, wellness bookings, and guest management. Identity: "the mayor."

SMS (Twilio) + iMessage (Loop Message) + Voice (Retell)
Context assembly: soul + rules + personas + memory + history
Tool use: schedule_tour, add_to_waitlist, create_work_order
Coaching system: admin feedback trains AI in real-time
Human-in-the-loop escalation (emergency, frustration, blocked)
90% L1 energy savings on routine inquiries

Key Subsystems

Lead pipeline — scoring, stage transitions, extractionBuilt
In-house lease e-signing — replaced Dropbox SignBuilt
Guest auth — allowances, token-based guest appBuilt
Wellness — 3-tier access, waitlist auto-promotionBuilt
Payments — Stripe, house accounts, recurring billingBuilt
Voice AI — inbound/outbound, post-call SMS summariesBuilt
MCP server — 19 read-only tools for Poke integrationBuilt
Self-touring + application/screeningIn Progress

Recent Releases (March - April 2026)

Feature	Date	Details
Conversation Coaching	Apr 15-17	Admin feedback creates KB entries, updates rules, fixes profiles, files tickets
Linear to Plane Migration	Apr 17	753 issues migrated with [LOS-XXX] prefixes for traceability
Simulation Framework	Apr 14-15	200+ concurrent conversation stress testing
Security Hardening	Apr 12	Auth on privacy routes, XSS sanitization, transactional deletes
Voice AI (Retell)	Mar 13-25	Full voice pipeline: inbound/outbound, transfers, post-call SMS, analytics
MCP Server	Mar 18	19 read-only tools deployed as separate Railway service for Poke
Platform Rebrand	Mar 15	Vasari Concierge renamed to LobbyOS; AI identity stays "Vasari"
In-House E-Signing	Mar 5	Replaced Dropbox Sign — document upload, co-tenant signing, full audit trail

Current Focus (Sprint): Leasing pipeline — Self-Touring (LOS-597) and Application & Screening (LOS-603). Source tracking, waitlist admin (LOS-537). Marketing site and public launch target: September 2026.

Vasari Health

National health/wellness membership platform — launch ahead of building for early revenue

Core Membership

$199

per 12 weeks

Clinical Add-On

+$149

per 12 weeks

Status

MVP

Frontend complete

Stack

Next.js

Railway deploy

Early Revenue Strategy: Vasari Health can launch nationally before the building opens (June 2027). Targeting Q4 2026 launch — ~9 months before first residents. This creates revenue, builds brand, and validates the wellness model before the physical building is ready. The building becomes a marketing channel for the digital health platform, not the other way around.

Product Overview

National health/wellness membership for "Fragmented Optimizers" — health-engaged people who lack a coherent plan.

Three Routing Paths

Fragmented Optimizer — supplements/biohacking but no structure
Recovery + Metabolic — injury recovery or metabolic optimization
Medication Switch — transitioning from pharma to lifestyle interventions

MVP Pages (Complete)

Landing page (dual light/dark theme toggle)
11-step guided onboarding (Entry, Goal, Friction, Baseline, Interpret, Offer, Checkout, Routines, Support, Clinical, Plan)
Member "Today" portal — tasks, week timeline, status cards, AI chat
Ops console — member queue, comms schedule, routing summary

What's Needed for Launch

Database + auth + payment processing (Stripe)
CareValidate + PerfectRx integrations
Real clinician routing (currently placeholder)
Lab upload / pharmacy routing

Go-to-Market Timeline

April 2026

MVP Frontend Complete

Landing, onboarding, portal, ops console — all static data.

May - July 2026

Backend Build

Database, auth, payment processing, CareValidate + PerfectRx integrations.

August - September 2026

Beta Launch

Invite-only beta with 50-100 founding members.

October 2026

Public Launch

National launch — B2C nationwide, not limited to Iowa City.

Related: Hot Body Coach (HBC)

SMS-first AI fitness coaching app — surfaces labs, meds, and clinical services from Vasari Health. Express API + Next.js, Twilio + iMessage, Claude AI with multi-model pipeline (Haiku classify, Sonnet chat, Opus vision). Phase 1-4 complete — deployment pending (Phase 5).

Marketing Site

Public-facing marketing site for leasing and brand — needs significant work

Current State

Public marketing pagesIn Progress
Unit browsing / floor plansIn Progress
Reservation flowPlanned
Magic link onboardingBuilt
Guest authorization appBuilt
Prospect onboardingIn Progress

Needed Before Launch (Sep 2026)

Professional photography — renderings, construction progress, design details
Floor plan viewer — interactive unit exploration with pricing
Content marketing — zero competitors have blogs; first-mover advantage
SEO strategy — structured data, ApartmentComplex schema (no competitor does this)
Virtual tours — 3D/video tours of units and amenities
Social proof — testimonials, press, design team credentials
Reservation system — deposits and unit holds

Market opportunity: Zero Iowa City competitors run a blog or content marketing program. Zero use ApartmentComplex schema markup. Only 2 of 7 deploy AI/chat (both use EliseAI). Vasari's AI concierge + content-led SEO strategy is a clear differentiator.

Team Directory

All people and companies working on the Vasari project

Design & Architecture

Design Architect

Olson Kundig

Seattle, WA — AD100 17x, AIA Firm Award. Amazon Spheres, LeBron James Innovation Center, Six Senses RiverStone.

Architect of Record

Slingshot Architecture

Iowa City, IA — local AoR handling zoning, permitting, and code compliance. Local market expertise.

Interior Design

Chuck Marie Studio

Portland, OR — hospitality interiors specialist. Woodlark Hotel. All 44 furnished units + common areas.

Wellness Design

SPX Gym Design

Wellness facility programming and operations specialist. Designing the 6,911 SF Wellness Club.

Construction

General Contractor

Hodge Construction

Iowa City, IA — local GC. $14.9M GC contract. Demolition started March 2026.

Technology

Platform / LobbyOS

Roby Miller (In-House)

LobbyOS proprietary platform, Vasari Health, P500 budget app, marketing site, AI systems. Full-stack development.

Integrations & Services

Access Control

Swiftlane

Smart access control integration for building entry and unit access.

SMS / Voice

Twilio

SMS messaging for AI concierge. A2P 10DLC compliant.

iMessage

Loop Message

iMessage channel for AI concierge. Dual-channel with Twilio SMS.

AI

Anthropic (Claude)

Primary AI model for concierge, agents, and document processing.

Email

Resend

Transactional email service for notifications and communications.

Hosting

Railway

Cloud hosting for LobbyOS, Vasari Health, P500, HBC. PostgreSQL databases.

Market Position

Iowa City competitive landscape — Vasari is positioned as luxury, not student housing

Key insight: Iowa City's multifamily market is dominated by student housing (per-bed leasing, 600+ bed properties). Vasari targets a completely different segment — young professionals, health-conscious adults, and remote workers willing to pay premium rents for a wellness-integrated lifestyle. There is no direct competitor in this segment.

Competitive Landscape (High-Level)

Property	Units	Starting Price	AI/Chat	Blog/SEO	Score
Vasari	44	$1,958/mo	AI Concierge	Planned	—
Replay	291	$844/bed	No	No	3.2
The Hive	250	~$850/bed	No	No	3.4
RISE	300+	~$900/bed	No	No	3.1
The Nest	101	$1,175/bed	EliseAI	No	2.6
The Quarters	352	$690/bed	EliseAI	No	2.8
Hawks Ridge	200+	$635/bed	No	No	3.2

Vasari's Unfair Advantages

Only wellness-focused property in Iowa City market
Only AI-native operations — competitors use generic chatbots or nothing
World-class architecture — only Olson Kundig-designed building in Iowa
Proprietary tech (LobbyOS) — IP creates a moat and operational edge
Revenue diversification — rent + cafe + wellness services + Vasari Health
21 tech features vs. next best at 5

Market Gaps to Exploit

Zero competitors run content marketing / blog
Zero competitors use ApartmentComplex schema markup
Poor pricing transparency — most hide rates behind portals
Weak social proof — most show 0-3 testimonials despite hundreds of reviews
No virtual tours except Hawks Ridge (Matterport)
No content strategy — massive SEO opportunity

Master Timeline

Unified view across all workstreams — April 2026 through August 2027

All Workstreams — 18-Month View

A26M26J26J26A26S26 O26N26D26J27F27M27 A27M27J27J27A27S27

Construction

Foundation

Vertical

Framing + Envelope

Interiors

Build-out + Finishes

Fit-Out

FF&E + Tech

CO / Handover

CO

Interior Design (CMS)

SD + DD

SD/DD

CD + Pricing

CD/VE

CA + Procure

CA

LobbyOS

Leasing Pipeline

Self-tour + Apps

Marketing Site

Content + SEO

Public Launch

Launch

Smart Home

IoT Integration

Vasari Health

Backend Build

DB + Auth + Pay

Beta

50-100 members

Public Launch

National

Growth

Scale nationwide

Leasing & Move-In

Pre-Leasing

Reservations + Deposits

Move-In

First Residents

Key insight: Vasari Health launches ~9 months before the building opens. This creates 3 benefits: (1) revenue before the building is generating rent, (2) brand awareness and audience building for the building's launch, (3) validates the wellness model before it's physically implemented.

Priorities & Focus

What to focus on now — and what can wait

Now (April - June 2026)

Construction oversight — Foundation work underway, coordinate with Hodge
CMS interior design — SD/DD phases in progress, critical decisions on finishes
LobbyOS leasing pipeline — Self-touring + application/screening (LOS-597, LOS-603)
Vasari Health backend — Begin database, auth, payment processing
P500 budget tracking — FF&E decisions, vendor management

Next (July - September 2026)

Marketing site overhaul — Content, SEO, virtual tours
LobbyOS public launch — September 2026 target
Vasari Health beta — 50-100 founding members
CMS procurement — FF&E ordering, long-lead items
Pre-leasing prep — Reservation system, deposit handling

Later (Oct 2026 - Feb 2027)

Vasari Health public launch — National B2C
Pre-leasing campaign — Reservations + deposits
Smart home integration — IoT setup for units
Cafe operator / model — Finalize F&B approach
Wellness Club operations — SPX programming, staffing

Launch (March - August 2027)

FF&E install — All 44 units furnished
LobbyOS full deployment — Smart home, concierge, all flows live
Certificate of Occupancy — June 2027 target
First residents — July-August 2027 move-in
Cafe + Wellness Club open — Full amenity package live

Active Software Projects

Project	Purpose	Status	Tracking
LobbyOS	Building operations platform	Active	Plane — LOBBY project
Vasari Health	National wellness membership	MVP	Plane — HBC project
P500 Budget	Construction budget tracking	Active	Plane — BAI project
Hot Body Coach	AI fitness coaching (SMS)	Phase 5	Plane — HBC project
Marketing Site	Public leasing site	Needs Work	Plane — LOBBY project