The Beach Company, based in Charleston, recently acquired 1.25 acres at the corner of Sixth Avenue South and Lea Avenue, in downtown Nashville, Tennessee.
The acquisition consists of two parcels, one at 516 Sixth Avenue South, home of an AmeriSite storage facility, and the other at 512 Lea Avenue. AmeriSite's Sixth Avenue storage operations will not be disturbed by the acquisition, the Beach Company said.
Beach Company CEO John Darby said this area of downtown Nashville "hits the sweet spot for the kind of location young professionals are seeking. The Beach Company is a pioneer in upscale apartment living in hot downtown neighborhoods across the southeast. From the well-established CanalSide Lofts in Columbia, S.C., to South Ridge, on the verge of opening in Greenville, S.C., there is an undeniable preference for apartment living within walking distance to work and entertainment."
Plans for the site include a multi-family rental community of approximately 250 units, 5,400 square feet of complementary commercial space and a parking garage. Residents will enjoy a club room, commercial-quality fitness center and rooftop pool. The architectural plan will maximize the views of downtown Nashville and Gulch skylines.
Construction is expected to begin in late 2015.