The Metro Planning Department Development Tracker is listing a 280-unit luxury apartment and retail building — to be located on Division Street between The Gulch and the Music Row Roundabout — as proposed by Charlotte, N.C.-based developer Crescent Communities (via its Crescent Acquisitions LLC). Of note, Crescent, if it can acquire the properties needed for the project, seemingly would use Lord, Aeck, Sargent, Inc., as the architect. The Atlanta-based design firm ranks 101st on Architectural Records' Top 300 U.S. architecture companies based on 2012 revenues. It's another example of the type high-profile entity that is being drawn to Nashville for development work. Check the firm's broad portfolio here.
Charlotte, N.C.-based developer Crescent Communities is planning a 280-unit luxury apartment and retail building to be located on Division Street between The Gulch and the Music Row Roundabout, The Tennessean reports.
If approved, the development would be Crescent’s first project located within Nashville’s urban core.
Crescent is known mainly for suburban development (check the company’s work here), having developed largely in its hometown. The company developed the two-building Greenway Centre in Cool Springs.
Crescent is seeking a variance related to the Music Row Urban Design Overlay district requirements so that it can give the building more height than is currently allowed along that stretch of Division Street, the morning daily reports. The building would be located, in part, at 1205 Division St. and replace some existing nondescript structures (seen in below image courtesy of Google Maps and on the south side of the street).
The building will include five stories of residential apartments located above about 7,500 square feet of first-level retail space, according to The Tennessean. It will feature 195 one-bedroom units, 84 two-bedroom units and one three-bedroom apartment.
Gulch Crossing LLC, the developer of the Gulch building of the same name (minus the "LLC" of course) currently under construction on 11th Avenue, has secured from Wells Fargo Bank a loan of $62.9 million, according to documents filed with the Davidson County Register of Deeds. Gulch master developer MarketStreet Enterprises created the LLC for the project and declined to provide additional financial details (including the amount of equity in the project), citing a longstanding policy of not disclosing financials related to its developments.
Eater Nashville reports the high-profile Gulch space previously home to Music City Flats (née Urban Flats) will reopen as City Fire, "an American comfort food restaurant and bar." No word yet on an opening date but the concept's managers are interviewing for the staffers they need.
The Bank of Nashville will in the spring of 2015 leave its longtime home in the L&C Tower for the Gulch Crossing building now under construction, where it will take up almost 19,000 square feet for its regional headquarters and a retail branch. CEO Bill Nigh tells Getahn Ward the bank also will put its name atop Gulch Crossing when it moves its staff of 60 there.
UPDATE: Here's the bank's release on the move, which mentions that 45 percent of Gulch Crossing's space has now been pre-leased.
Our SouthComm colleagues Jack Silverman and Dana Kopp Franklin report on the Nashville Scene website that popular East Nashville coffeehouse Barista Parlor is opening a second location at 610 Magazine St. in The Gulch. The business will operate within the building formerly home to Golden Sound of Nashville and that sits east of the back side of the Icon condo tower (see image below courtesy of Google Maps with Icon at top left of photo). It will also accommodate Barista Parlor's roasting operations. (Read more here and here.)
Music City Dream Cars — which will feature high-end vehicles for lease, including Lamborghini, Maserati and Rolls-Royce — will open in The Gulch in December, the Nashville Business Journal reports. Jonathan Bowan is the owner of the business, which will operate from a warehouse located at 905 Gleaves St. Read more here.