Childress Klein Properties has paid $6.25 million for the 1.56-acre site off Demonbreun Street where it plans to build a 431-unit apartment community along with 8,000 square feet of ground-level retail space.
Construction on the $100 million-plus project should start within the next month. The units should be ready for occupancy in early 2016.
The 18-story building planned near the Music Row Roundabout will be the Charlotte, N.C.-based developer’s first venture into Nashville. The site was once the subject of a bitter eminent domain battle. Part of the property had previously served as the home for Country International Records.
Childress Klein’s project will include studios and one, two and three bedroom apartments with penthouse flats on the top floor.
One of two retail spaces will be on the Roundabout and ideal for a restaurant with outdoor seating. The apartment offices, fitness facility and gym, along with the lobby will also be on the first floor. Other amenities such as a saltwater pool and clubroom will be on the seventh floor overlooking downtown.