Southern Land Company, a real estate development firm out of Nashville, TN, has plans to build the first residential development in the city's downtown area. Located in the Symphony Park area, the project is a mid-rise, luxury apartment community. Southern Land broke ground in late May.
The project will contain 324 apartments, including studios, one and two bedrooms. The ground floor will offer approximately 14,500 square feet of retail and restaurant space for lease.
There is no clear timeline for completion, but this marks the first residential development at Symphony Park. It will lead to a slight decompression of the rental market in the area and is a sign of strength of the commercial and residential real estate market in the city.
No estimate of the cost of the project was given nor were expected rental rates revealed.