DAC Developments paid $22 million for nearly an acre at 319 Peabody St. in Nashville that it hopes will one day be the site of a 53-story hotel and condo tower. The Nashville Business Journal reports the tower would be the tallest in Nashville.
The $460 million development is slated to offer 104 condos and 405 hotel rooms. Other planned features of the project include nearly 11,000 square feet of retail space, 400 parking spaces, a five-level podium with event and meeting space, and hotel and condo amenities.
DAC’s newest effort is just the latest in a number of similar projects. SomeraRoad is under construction on Pendry Residences Nashville, the Nashville Edition hotel and condo project broke ground this month in the Gulch, and Vastland Co. recently landed a $130 million construction loan for the Voce tower in Midtown.
Several other hotel and condo projects are in the pipeline including a new Ritz-Carlton, Nobu, Equinox Hotel, St. Regis and more.
The post Nashville Developer Buys Land for 53-Story Hotel/Condo Tower appeared first on Connect CRE.
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