Nashville-based developer Evergreen Real Estate has sold 40 of 46 condominiums — after only 90 days — in its modernist Studio 1 residential building located in the Melrose/Eighth Avenue South district.
Aaron White, Evergreen principal and co-founder with Hunter Connelly, said the sales, spearheaded by Village Real Estate services have been brisk and highlight an increasing popularity in the corridor.
“Melrose is in demand,” White said.
Evergreen had Nashville-based architecture firm DA|AD create a retrofit design for the outdated structure, which most recently served as apartments.
“We kept the building intact because buildings like this should be preserved,” White said.
White credited Nick Dryden of DA|AD for transforming the 2.5-story building, which is believed to have opened in 1961 and had been called Studio I & II in its previous iteration as an apartment house.
White said the teamed embraced the 1960s-style “West Coast drive-in motel architecture” for the building, which fronts Hillview Heights one-half block west of Eighth Avenue/Franklin Road. He noted the condo interiors highlight the period construction of the original building (see here).
Pinnacle Bank provided financing, with David Dorris, a realtor with Village Real Estate Services, overseeing sales and marketing.
The Melrose/Eighth Avenue South/Berry Hill area continues to gain momentum, with numerous residential projects already completed or soon to be finished. Large-scale apartment buildings 23Hundred Berry Hill and The Melrose have redefined Franklin Road, while numerous shops and restaurants have established a presence on the street the past few years.
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