Nashville-based developer Paul McRedmond says he is finalizing both the design and construction costs for his three-story mixed-use project proposed for 12South.

“Hopefully we can then settle on a contractor and then move forward,” said McRedmond, whose retail, office and residential building would anchor the northeast corner of the Montrose and 12th avenues T-intersection.

McRedmond is working with local architect Sharon Pigott on the building’s design and with Cook Properties (Jimbo Cook) to lease the ground-level retail space. He declined to note when he might break ground on the building, for which a name has not been announced.

McRedmond purchased the lot for $68,000 in 1996. Most recently, the site was home to a lawn and garden business.