Nashville has been on the limelight as one of the fastest growing regions as far as the real estate industry is concerned. Over the past years, the region has recorded some of the highest prices and value in property. Although there are numerous reasons that explain the increasing growth in the city’s real estate industry, the topmost is the fact that there is a high growth in the disposal income in Nashville and the conduciveness of the area when it comes to doing business as its cost is above 80% of the national average. Additionally, the city is experiencing a significant growth in the young population, which insinuates the demand for homes in the future. Presently, Nashville has numerous ongoing and completed real estate projects dotted in different parts of the city.
Here are some of the real estate projects in Nashville:
- The Griff
The Griff is a new project that is coming up in Germantown under the construction and management of the Stockbridge Capital Group and Atlanta-based TriBridge Residential. The project is planned to be situated at 1390 Adams Street. The location of the building is next to Day & Woolworth Ax Handle Company building, the former Turner. It will occupy a land space of 20,000 square foot featuring two-storey masonry structure. The complete building will have three restaurants and a retail space. On the other hand, the Griff apartment will be a 5-storey building offering 255 units of apartment, a retail space amounting to 3,000 square feet, and a structured parking deck.
Publix is projected to come to the Eighth Avenue adjacent to Melrose, about one and half miles near Nashville’s downtown. Specifically, the project will be situated at the Waverly Place, the intersection of Bradford Avenue and Eighth Avenue South.
- SoBro Hyatt House
The SoBro Hyatt House is planned to be located along the Fifth Avenue South and the Lea Avenue. It is owned by the Mountain Shor Properties and was targeted to start within the first quarter of 2018. However, the projection is that the house will take between 18 and 24 months to be completed so that it can be opened during the fall of 2019. The building is expected to have 217 rooms that will be used for a hotel projected to have a great influence in the area. It is expected to be a 6-storey building that extends to a land size of about 184, 000 square feet. The ground-floor retail space is projected to be between 2,000 and 2,500 square feet. The entrance to the hotel will be across Lea. Upon completion and opening, the house will become the 25th hotel to be developed by Mountain Store.
- Ole Red Nashville
The development of the Ole Red Nashville project is a combined effort of Ryman Hospitality Partners and Blake Shelton. It is a $20 million venue that hopes to house events of different levels of entertainment. The floor plan is about 26,000 square feet that stands at the heart of Nashville and is projected to comprise of a dance floor, performance space, retail area, restaurant, a bar, VIP booths ideal for small gatherings, as well as a rooftop area of about 6,000 square feet for outdoor and indoor restaurant and bar.
- August Moon Indoor Drive In
The August Moon Indoor Drive In is located at the East Nashville Parking Lot across the Nissan Stadium. The proposed opening date of this project is the summer of 2018. The completion of this project gives Nashville a platform to take pride in having one of the biggest movie screen that is non-iMax within America. The project got its inspiration from a mini indoor theme featuring the special concept of transporting people, as well as a quintessential American experience. Some of the movies expected to show here include ‘First Run’ and classic movies.
- Whole Foods
The Whole Foods building is located at the Northwest corner within the Broadway and 12th intersection. The projected opening date is during the fourth quarter of 2018. It comes at a time when a survey has indicated that there is a high demand for grocery stores at Nashville downtown. With the expected increase in the population of Nashville since 2017, the entry of Whole Foods in the region will have a significant impact on the downtown residents.
Evidently, the whole of Nashville is developing at a high rate-from residential to commercial projects. According to the recent trends, expectations are high that new projects will come up in different parts of Nashville; East Nashville, Germantown, North Nashville, West Nashville, Green Hills, or even in Downtown.