What's New in Tennessee:
Despite high interest rates and other hurdles in commercial real estate, opportunities for development in the Nashville and Franklin-metropolitan remain highly-sought after by project teams across the country. Dubbed the “Nashville Building Boom”, several mixed-use developments are queuing up to progress from conception to completion in 2024.
Here are some of the current developments taking the spotlight in Tennessee:
Wedgewood Avenue and Aria Development Group Are Ready for Mixed-Use Community
A partnership between Nashville-based Wedgewood Avenue and Miami-based Aria Development Group has plans to kick off construction of their five-building mixed-use development in East Nashville in early 2024. The community development, named “The Pike”, will span 6.8 acres of land and will comprise 575 residentials units with 15,000 square feet of select retail vendors and dining spaces. With a goal to revitalize the Dickerson Pike area, The Pike will be anchored by a central park and will include traffic calming techniques and low-speed limits to encourage safe exploration of pedestrians and cyclists amongst the community.
Downtown Franklin’s Residential Project, The Middle Eight, Receives Final Approval
After two years, Franklin-based Truland Development Company has received its final approval for their proposed multifamily development named “The Middle Eight”. The team’s inspiration for the project was centered around creating a diverse neighborhood and bringing a more urban experience to Franklin, providing more affordable housing opportunities within the area. Early renderings for the community include 45 large apartment units and penthouses, 21 townhomes and single-family homes, 103 midsize apartments, and 106 smaller apartments. Construction on the “The Middle Eight” is projected to commence in 2025.
Tag(s):
Tennessee Digest