Division Street Land Partners on Tuesday released an image and details, including a spring 2015 groundbreaking date, for its mixed-use tower Crescendo planned for The Gulch.
If built, the 23-story Crescendo would rise at 641 Division St., where the Myers Flooring building currently sits. The 1.81-acre site is elevated, which would create unobstructed views of the city from the tower. The site has made headlines the past year as Metro plans to connect Division Street and Ash Street with a fly-over that would fuse The Gulch and SoBro.
Crescendo would be, if standing today, the tallest apartment tower in Nashville. However, two rental unit skyscrapers — the under-construction SoBro and the planned SkyHouse Nashville — would be taller.
"We believe that Nashville's job and population growth coupled with strong demographics and low apartment vacancy rates in The Gulch necessitates the development of additional high quality projects like Crescendo,” Nashville-based developer Travis Kelty, Division Street Land Partners' managing member, said in a release. “The Gulch and SoBro are quickly developing into live, work and play environments. The futures are bright for these neighborhoods and we are pleased to have the opportunity to provide a quality of life project to the neighborhood and an architectural amenity to the Nashville skyline.”
Crescendo would feature 303 luxury apartment units, about 36,000 square feet of retail space and 600 parking spaces. Its design, according to the release, will offer “extensive water features.” Other amenities would include two rooftop decks, a swimming pool, a fitness center and a dog walk.
Kelty — who previously proposed a guitar-shaped office tower called Strings that failed to gain traction — envisions retailers that could include an organic grocery store, a dry cleaners, a bank branch and restaurants. Rents for the one- and two-bedroom apartments will range from $1,400 to $2,800.
Kelty said the construction timetable is about two years. Division Street Land Partners will need to acquire a portion of the property from Atlanta-based Artemis Real Estate, which paid $1.8 million for it in December 2001. If the deal is finalized, Myers is expected to operate from a building to be built on the west side of the site.
The development team includes Gulfport, Mississippi-based general contractor Roy Anderson Corp. (a subsidiary of Tutor Perini Co.); Atlanta-based architect KPS Group; Nashville-based engineering firm Gresham Smith & Partners; and Bone McAllester Norton (for legal work). In the release, Division Street Land Partners did not disclose an equity partner or the bank providing financing.
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