Eighth South LLC will go before the Metro Planning Commission on Thursday, Jan. 8, to request a zoning change that would allow Phoenix-based developer Alliance Residential Co. to offer up to 200 residential units at its mixed-use project planned for the former Colonial Baking Co. site in Melrose and Berry Hill.
Specifically, Nashville-based Eighth South LLC (which owns the site) will ask that the commission allow a preliminary specific plan zoning. Currently, the Metro Nashville portion of the site (which also sits in land part of the City of Berry Hill) is zoned commercial services.
Alliance, which has yet to close on the purchase of the site, is currently calling the development Broadstone Eighth Avenue, according to Metro Planning Department documents.
The 2.3-acre site is located on the east side of Elliott Avenue between Hillview Heights and Inverness Avenue. The Berry Hill portion of the proposed Broadstone Eighth Avenue development includes 154 residential units as well as retail and restaurant space. The Berry Hill Zoning and Planning Commission approved that portion of the planned development on Dec. 1, 2014.
A proposed plan (see below) shows two residential buildings and a retail building that fronts Franklin Road.
The Nashville office of Kimley-Horn and Associates, is handling land planning and engineering duties. Atlanta-based Lord Aeck Sargent would serve as architect.
(Image courtesy of LAS)
23Hundred at Berry Hill — the recently opened apartment building located on Franklin Road and within the satellite city of its namesake — hit the market today.
The Nashville office of Jones Lang LaSalle will handle the marketing and sale of 23Hundred at Berry Hill.
Bluerock Real Estate LLC, the corporate office for which is in New York City, and Nashville-based Stonehenge Real Estate Group co-developed the five-story, 266-unit residential structure, which has been open less than a year and is 99 percent leased. (See image here courtesy of Google Maps.)
Of note, Stonehenge co-developed in the North Gulch Eleven North with TriBridge Residential and would later sell the building in 2012, after it had been open less than a year, for $58.7 million to Chicago-based Mesirow Financial. At the time, the price set record per unit ($195,000) for a Nashville apartment transaction.
Similarly, Stonehenge sold — once again, soon after it opened — its Note 16 apartment building located on 16th Avenue South in Music Row for $15.6 million in 2013.
Vincent Lefler, senior vice president of Jones Lang LaSalle's Southeast multi-family capital markets group, said he anticipates “great interest from investors.”
“We expect to know the next steps and hope to have a buyer within six to eight weeks,” Lefler (pictured) said, adding no asking price will be offered.
Lefler said the eventual sale of 23Hundred will further validate how Nashville is becoming a city with multiple popular mixed-use nodes and linear corridors.
“We used to talk mainly about downtown and the West End corridor for multi-family, but now we’re seeing a lot of the other cool neighborhoods with activity,” he said.
Lennar Multifamily Communities is targeting a late September start for its multi-unit apartment building to be constructed on Eighth Avenue South in Berry Hill.
Christopher Cassidy, LMC Southeast division president, said the developer anticipates receiving its final site approval from City of Berry Hill officials the week of April 8.
The site for LMC’s planned building currently is home to Jaguar of Nashville.
The Preston Partnership, which is co-headquartered in Atlanta and Washington, D.C., and was the lead architect for Midtown condominium tower The Adelicia, is designing the building. The structure will be four stories at its tallest point.
Cassidy said LMC expects to have within the next 30 days a detailed rendering (the image below is a concept rendering that provides an approximate visual for the Berry Hill building).
“We like the in-town infill districts in Nashville and are excited to start with Berry Hill,” Cassidy said. “We will continue to pursue other opportunities within urban Nashville.”
Lennar Multifamily Communities, which is an affiliate of Lennar Homes and a subsidiary of Lennar Corp., will undertake the project at 2350 Franklin Road (a.k.a. Eighth Avenue South). The building will include 320 apartment units.
Read more about the project here.
And here is a concept rendering that provides an approximate visual for Lennar's planned Berry Hill building:
South Nashville-based neighborhood pub The Melrose is changing its name to M.L.Rose Craft Beer & Burgers, in part, to differentiate itself from other area establishments, owner Austin Ray announced Monday
The change also will allow the business to efficiently market itself as it looks to expand to other locations around the city, Ray said.
The Melrose, he said, needed to create a distinction with nearby places such as Melrose Billiards and a 200,000-square-foot development by Melrose Partners to be constructed on the east side of Franklin Road.
M.L.Rose Craft Beer & Burgers will open a second location, located on the city’s west side at 4408 Charlotte Ave., this summer.
For more details, check this Nashville Scene piece.