The developer of Terra House, currently under construction on Rolling Mill Hill, is targeting a November completion for the mixed-use building.
Atlanta-based SWH Residential Partners is partnering with the Metro Development and Housing Agency on the project, with the developer to lease from MDHA the land on which Terra House sits. The building will include 194 apartment units and 12,585 square feet of commercial space. Its façade addresses Hermitage Avenue.
John Tirrill, SWH managing partner, said Vickie Saito and Charlotte Ford, brokers with the Nashville office of Colliers International, are making progress handling the marketing and leasing of the commercial space. Terra House will be the first Rolling Mill Hill building to offer retail, as six existing RMH buildings are residential only.
“We’ve had good interest,” Tirrill said of prospective retail tenants. “It will be nice to have a little commercial node on Rolling Mill Hill.
“My experience with urban neighborhood commercial space is that most owners of the businesses [well suited for such spaces] want to see the buildings completed before they sign leases.”
Read more about Terra House here.
Nashville's housing market slipped a bit in January, according to Freddie Mac's Multi-Indicator Market Index, which incorporates mortgage applications and job growth, among other things. The local index is still up 6 percent year over year, but that's two points below the level of the previous two months. Nationally, Freddie Mac's researchers say the picture showed a similar stumble due to winter weather and slower economic growth.
Brentwood commissioners voted Monday night to eliminate residential development options in the city's Town Center district, citing the need to assess the impact of about 400 units that have been completed or are now being built.
"Our infrastructure is scarce and we can't overrun it," Commissioner Mark Gorman said.
"[Brentwood] is a very special suburban city and it's a great place our residents call home ... I can't help what's gone on in Town Center. Now there are ... 403 residential units in the Town Center downtown area. It's unfortunate that it all happened with that Tapestry. Maybe some would have been okay but right now it's too late and we can't fix what's happened."
The rapid redevelopment of sections of East Nashville has caused a number of ruckuses recently. In this week's Scene cover story, Steven Hale writes about how a number of people — in the words of one activist, "folks that have felt they've lost their voice [and feel] vulnerable of losing control of the future of their neighborhoods" — are rallying around challengers to Councilmen Peter Westerholm and Scott Davis, representatives they say are not appropriately defending their interests.
"Peter is a friend of mine and, there are many issues on which we agree," Withers says. "And the main differentiator is that we sometimes have a different approach to how decisions are reached.
"The difference to me is that I am passionate about reaching out and communicating with our neighbors and seeing what their opinion is. And if the majority of neighbors are in favor, then that's what I'll bring forward, and if the majority want a compromise, then we should have a compromise. If the majority of neighbors are opposed, then we want to look at that a little more closely."
The Franklin Board of Mayor and Aldermen has given its approval to the development plan for Harpeth Square, the $80 million residential/hotel/retail project slated for the northern edge of downtown Franklin. Jill Cowan at The Tennessean has more info and perspective here on what was a "robust public hearing" Tuesday night.
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