Suggestion on Flooring for Apartments Above Retail/Restaurant/Bar

[Kelly Wiggs]

I recently closed on a commercial building with 4 apartments above space that can be used for retail/restaurant/bar. I'm currently in the process of rehabbing all 4 apartments and am trying to determine best way to go with flooring. In the past I've always used luxury vinyl plank, but that has been in SFH rentals. Specifics for this building:

• This is a long term hold.
• Looking for balance of soundproofing and lower long term cost
• Apartments are one 1br and 3 studio
• Located in lower income area so tenants will be hard on flooring and will have a higher turnover rate
• Current upstairs floor is 2 inch hardwood planks attached directly to joists.
• Ceiling below is 12ft high finished with a combination of plaster/drywall 

Wondering if anyone has had something similar and what worked for them?  Right now I'm deciding between two options:

• Attach 4x8 plywood sheets to level the floor followed by a soundproof underlayment and then luxury vinyl and hope it lasts several tenants? This is the more expensive option up front, but I'm concerned about noise. 
• A high quality carpet pad attached directly to the hardwood planks and cheap frieze carpet that gets switched out after every tenant?

Is there a better option?

Also I'm considering blowing insulation in between the floors for energy saving purpose- will it have the added benefit of sound dampening as well?

Thanks for the time and input.