The measured yet noticeable transformation of Historic Chestnut Hill on Nashville’s south side continues, as FMBC Investments plans to break ground next week on The Lofts at SouthView.
Shawn Bailes, FMBC president, said the boutique developer will develop two buildings of four units each (see below). The units will be smallish, spanning no more than 750 feet, with the pair of structures to be located at 1064 and 1066 Second Ave. S. and next to the company’s previously built SouthView on Second.
“The buildings will look similar to SouthView on Second,” Bailes said. “The market told us that a smaller one-bedroom New York-loft-like townhome would sell well. The community is attracting the millennials looking for an urban lifestyle at a reasonable price.”
FMBC will use Capital City Construction as the builder. Wilson Bank & Trust is providing the loan. Root Arch (stylized as rootARCH) is handling design, with the company to give The Lofts at SouthView a contemporary aesthetic.
“My wife and I travel a good bit and love architecture,” Bailes said of the design. “We saw a similar development in Charleston and took some cues from it.”
Bailes said each of the eight units will offer a 200-square-foot rooftop terrace. The homes will be priced in the mid-$160,000s.
Bailes said FMBC Investments wants to handle continued development of the area. In addition to the aforementioned SouthView on Second, the company has rehabbed two Victorian homes located on Second Avenue South.
Similarly, other companies have undertaken projects in Historic Chestnut Hill and, to the south, Wedgewood Houston. For example, Urban Housing Solutions has completed 3rd & Chestnut (read more here).
The infill projects have been noteworthy because the historic parts of South Nashville have gotten minimal attention during the city’s urban redevelopment movement. The bulk of the older section of South Nashville is no more than two miles from downtown’s southern fringe and, as such, is considered by many as ripe for a reinvention.
Bailes said he started buying land in Historic Chestnut Hill in 2010 and has since talked to many residents to gauge their interest in his company’s undertaking additional development.
“We knock on doors and introduce ourselves,” he said. “It’s important that we intertwine into the fabric of the neighborhood.”
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