A proposed waterfront development in West Nashville is one step closer to completion.

Alpha LLC, which is looking to develop the H2O Urban Waterfront District, has closed on the purchase of 24 acres on Charlotte Pike near River Road for $5 million.

The development is meant to be a mixed-use waterfront community, accessible by “vehicle, bus, pedestrian or boat.” Current plans have it made up of approximately 800 residential lofts, 116,000 sq. ft. of office and 220,000 sq. ft. of retail and restaurants “in addition to parks and leisure seating areas.”

Alpha owners Mark Hemphill and Ron Sapp hope to break ground on the project’s first phase within the year

Financial backing for the purchase came from Knoxville-based Community South Bank, which loaned the developers $3.75 million.

The development's website can be found at this link. (Make sure your speakers are turned on... it's worth it.)