June 22, 2021
GBT Realty has released updated renderings for its two-tower Parke West project under construction near the intersection of West End Avenue and Interstate 440 — with a fall 2022 completion still on target.
The finalizing of the images (see previous renderings here) comes after the Brentwood-based company recently landed a permit, valued at about $39.7 million, related to construction of the 15-story residential component of the mixed-use development.
The local office of Birmingham-based Hoar Construction is the general contractor of the West End corridor project at 110 Murphy Court. Nashville-based Gresham Smith is the architect, with Lyne (also locally based) contributing to interior design.
First Horizon Bank is providing a $56.5 million construction loan for GBT’s component of the roughly $100 million development, which will include a 172-room dual-branded Hilton Garden Inn (103 rooms) and Home2 Suites Hotel (69 rooms). Parke West also will include a courtyard accessible via a nearby Metro Parks greenway, 11,000 square feet of ground-level retail (which is expected to feature a restaurant with outdoor seating) and, as noted, a residential tower with 210 for-rent units.
The release notes the future residential tower’s one- and two-bedroom units are being designed larger than typical and will include a 12th-floor outdoor swimming pool and deck, a “dog spa” and 24-hour concierge.
Construction of a 450-space underground parking structure that will serve both towers is nearing completion, according to a release.
GBT paid nearly $7.2 million for the site in mid-2019, according to Metro records. A year ago, GBT sold to Brentwood-based Chartwell Hospitality the air rights for the nine-story hotel tower piece of the development for $6.45 million.
The hotel component of Parke West will represent Chartwell Hospitality’s 13th hotel concept to have been completed in the Nashville market since 2007.
“We are excited to see this project come to life and deliver on the infrastructure improvements we promised during the rezoning process,” Fiona Haulter, GBT vice president for development, said in the release. “As the construction rises above ground for both towers, we shift our sights to leasing and seeking a dynamic mix of tenants for the ground-level retail and restaurant space that will be complemented by the enhanced courtyard between the towers.”
Construction of both Parke West’s hotel and apartment towers is expected to top out in early 2022.
MDHA committee OKs plan for Dickerson Pike future residential building
The Metropolitan Development and Housing Agency Design Review Committee on Tuesday approved the concept plan and exterior design of a residential building planned for East Nashville
Minneapolis area-based Dominium plans to undertake the 255-unit project, which will carry an affordable housing component, at 900 Dickerson Pike. The company recently landed MDHA Joint Finance and Development Committee approval related to a payment in lieu of taxes agreement. That approval will allow MDHA to provide the company tax abatements in an equity amount of about $17.97 million.
Of note, the property sits at the intersection of Dickerson and Cleveland Street, with the latter to be extended under the interstate to connect to River North and the East Bank in a move related, in part, to the future Oracle campus project.
The site is located within the MDHA Skyline Redevelopment District and, as such, DRC approval was needed.
The seven-story building will offer 159 studio/one-bedroom units, 65 two-bedroom units and 31 three-bedroom units, with all units to be subject to income and rent restrictions. To qualify, renters will earn no more than 60 percent of the area median income. A 308-space parking garage will be included.
Dominium has enlisted Nashville-based Smith Gee Studio (architecture), Nashville-based Catalyst Design Group (land-planning and engineering) and Franklin-based Genesis Engineering to work on the project.