The multi-family developer is rumored to be calling the apartments Broadstone Eighth South. Alliance will be purchasing a 6.41 site from local investment partnership Eighth South LLC. Eighth South LLC purchased the site for 9 million dollars two months ago.
The development will feature not only new apartment buildings but a 71,000-square-foot retail building. The apartments will have 480 parking spots, while the retail portion will provide 340 cars with parking. The apartment building will be four stories tall and predominantly facing Elliot Avenue. The retail front will face Franklin Pike.
Eight South would like to split the consolidated lots into two separate parcels. The apartment side would be allocated 4.38 acres. The retail side would be built on a 2.04 acre plot.
There is a Southern magnolia tree in front of the bakery building raising questions on the preservation front. Eighth South says it is talking with individuals and a preservation counsel about getting the tree moved elsewhere. This would avoid damage to the tree and the development could thrive during the building stages.