In a move that could be the official end of the long-stalled West End Summit and solidify the North Gulch as a legitimate urban district, HCA plans to buy 10.8 acres north of Charlotte Avenue to accommodate headquarters space for two of its subsidiaries. The planned project is valued at $200 million.
The land for the future home of Parallon Business Solutions and Sarah Cannon Research Institute is part of a 32-acre site owned by Northwestern Mutual Real Estate Services. The site is now cleared, with Boyle Investment Co. assisting Northwestern in the effort. HCA expects the new headquarters — it's not known yet whether that will be one building or, as had been planned on West End, two towers — to be open by late 2016.
A master plan for what the partners plan to call Capitol View is being crafted. That project should progress more quickly now that HCA will bring about 2,000 jobs to the area. Parallon is currently headquartered in a Spectrum|Emery Properties building in Cool Springs, while Sarah Cannon operates at 3322 West End Ave., a building that is owned by Highwoods Properties.
“We appreciate Mayor Dean’s continued support of our expansion in Davidson County, and we look forward to completing this project, which will promote the growth and development of the North Gulch area,” said HCA Chairman and CEO Richard Bracken. HCA last year received more than $60 million worth of incentives to keep SCRI in and move the Parallon jobs to Davidson County.
Earlier this year, HCA officials said they were considering alternative options for Parallon and SCRI since the West End Summit site had been inactive for a few months after developer Alex S. Palmer & Co. failed to obtain financing for the project. It is unclear what Palmer will do with his prime property, which remains a massive hole. The project, which was to include a 285-room InterContinental Hotel & Resort, carried a $260 million price tag.