MIDSOUTH DIVISION

Franklin, Tennessee

Alliance Development Services’ MidSouth Division focuses on two opportunities across Middle Tennessee and the broader Mid-South: residential lot development and strategic multifamily acquisitions.

With 35 years of development, construction and finance experience, Alliance combines established investment discipline with local market expertise to capitalize on the region’s continued growth.

THE FUNDAMENTALS BROUGHT US HERE

Since 2008, Alliance has specialized in risk-managed development in San Diego County — first for-sale housing, then, beginning around 2015, income-producing multifamily and hospitality. The move into the Mid-South follows the same logic that drove that earlier decision: go where the fundamentals are strongest and build the safest possible investment vehicle around them.

The Nashville metropolitan area has added roughly one hundred new residents a day for the past decade, drawn by corporate relocations, a growing healthcare and technology base, no state income tax and a quality of life that consistently ranks among the best in the Southeast. The suburban ring counties — Williamson, Rutherford, Wilson, Maury and Sumner — are growing fastest of all, and new construction accounts for nearly a third of recent home sales.

At the same time, the nation’s largest homebuilders have moved to an asset-light model: they would rather buy finished lots under takedown agreements than carry raw land and development risk on their own balance sheets. That shift has created lasting demand for independent developers who can entitle land, build infrastructure and deliver finished lots to creditworthy builders on a predictable schedule. The MidSouth Division was built for exactly that role.

Market data as of Q3 2026

RESIDENTIAL LOT DEVELOPMENT

Alliance acquires and entitles residential land, develops infrastructure and delivers finished homesites to national and regional homebuilders under negotiated purchase agreements.

Our strategy emphasizes builder commitments, phased development and disciplined capital deployment to reduce speculative risk.

Land Acquisition

Well-located residential land in the Nashville MSA and adjoining growth corridors, where entitlement, infrastructure and builder demand line up.

Entitlement & Forward Planning

Zoning, platting, municipal and utility coordination and engineering management — the entitlement discipline Alliance has applied to every project since 2008.

Horizontal Development

Grading, wet and dry utilities, roadways and stormwater, delivered in phases and managed with Alliance’s construction operations systems.

Builder Delivery

Finished homesites delivered to national and regional homebuilders under pre-negotiated purchase agreements, so absorption is contracted before the first lot is built.

Why sell land to a developer such as Alliance Development Services, not straight to a builder

MULTIFAMILY ACQUISITIONS

Nashville’s recent apartment construction boom, combined with maturing high-cost debt, has created opportunities to acquire quality properties below replacement cost.

Alliance targets well-located, 75–150-unit communities where financial distress, rather than property fundamentals, motivates a sale.

Our strategy emphasizes conservative acquisition pricing, operational stabilization and long-term value creation as apartment supply and demand rebalance.

Target Profile

75- to 150-unit communities in the Nashville MSA and its growth corridors: a size that sits below the radar of institutional buyers and lets us acquire below replacement cost, with the basis to compete on rent while the market absorbs the last of the 2024 supply wave.

Sourcing

Lenders, special servicers, brokers and owners facing a maturity. Alliance underwrites quickly, closes with its own equity relationships and can take an asset through a workout, note purchase or conventional sale.

Operations

The same ownership discipline Alliance has applied to its San Diego portfolio since 2008: hands-on asset management, disciplined capital budgeting and institutional reporting to lenders and investors.

Hold & Exit

Business plans sized to the recovery rather than the cycle’s peak: stabilize occupancy, burn off concessions, refinance into long-term agency debt and hold or sell into a tighter 2028–2029 supply environment.

SkyHaven Apartments in Oceanside, new apartment homes

RISK MANAGED BY DESIGN

Builder Demand First

We pursue land where builder takedown commitments can be secured before development capital is committed.
Phased Delivery

Infrastructure is built and lots are delivered in phases matched to contracted absorption, limiting capital at risk at any one time.
Local Relationships

Municipal, utility, engineering, brokerage and builder relationships are maintained in-market by our Franklin team.
Institutional Discipline

Underwriting, pro forma budgeting, lender packaging and investor reporting are handled by the same Alliance team that serves our San Diego projects.
Risk Managed by Design

Basis Over Forecast – On the acquisition side we underwrite to today’s rents and concessions, not to a recovery, and buy only where the entry basis protects the investment if the recovery is slow.

REGIONAL EXPERIENCE

Alliance has participated as co-developer in five projects across the Huntsville, Alabama market, including:

FEATURED • SOLD JUNE 2023

MARTINSON RANCH

HIGHWAY 72 EAST · CHASE VALLEY CORRIDOR · HUNTSVILLE, AL · 89.25 ACRES

89-acre mixed-use community entitled and sold to McKinley Homes in 2023.

324

Walk-up Apartments

229

Build-to-Rent Detached Homes

236

Townhomes

7.45 ac

Retail, Plus Future Office, Hotel & Parks

Program per the approved master plan, which also includes single-family homes, walkable streets and green space. Figures from the developer’s project page.

SOLD

WATERLEAF AT COLD SPRINGS

HUNTSVILLE, AL • 17.83 ACRES

Entitled and sold to Graycliff Capital, March 2022.

ACTIVE

THE TRAILS AT THE GREENWAY

HAMPTON COVE, AL • 11.8 ACRES

Active mixed-use development in Hampton Cove.

ACTIVE

CHASE CREEK

NORTH HUNTSVILLE, AL • HIGHWAY 72 CORRIDOR

Active retail/light industrial development in North Huntsville.

ACTIVE

HAMPTON COVE MEDICAL OFFICE

HAMPTON COVE, HUNTSVILLE, AL • WADE ROAD

Active medical office development.

These projects established regional relationships with builders, municipalities and capital partners.

MIDSOUTH LEADERSHIP

GREG LA MARCA

PRESIDENT & CEO

35 years of experience in residential construction, investment, finance and real estate development. Leads acquisitions, underwriting, financing and strategic direction.

CODY BASS

ACQUISITION & PROJECT MANAGEMENT

10 years of Nashville-area real estate experience, specializing in land acquisition, entitlement and development. Maintains established relationships with regional builders and development professionals.

Supported by Alliance’s San Diego-based finance, construction and entitlement teams.

LET’S BUILD SOMETHING TOGETHER

Alliance welcomes opportunities to work with landowners, homebuilders, brokers, lenders and capital partners throughout Middle Tennessee and the broader Mid-South.

CONTACT THE MIDSOUTH DIVISION

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