GBT Realty Corp., in collaboration with Monarch Alternative Capital, has announced "MidCity Nashville" as the designated name for their ambitious Midtown development project, set to transform the former site of Lee Beaman's Broadway dealership. Newly released renderings and details on the project's marketing website unveil plans for a seven-tower mixed-use complex that promises to redefine the Midtown skyline.
Located at 1525 Broadway, the development has recently moved forward with its plans by filing for final site approval to incorporate residential spaces. The initial phase is set to feature four towers arranged around a central pavilion, introducing a newly constructed street to link McGavock Street with Broadway. A subsequent phase envisions adding three more towers, a pedestrian plaza, and additional pavilions to the expansive site.
MidCity Nashville is poised to become a vibrant hub, offering a blend of residential, retail, and office spaces, alongside a hotel as suggested by the project's renderings. The towers are expected to vary in height, ranging from 20 to 35 stories, as per the documents submitted for approval.
This development represents a significant investment in Nashville's Midtown area, with GBT Realty acquiring the eight-acre site in December 2021 for $110 million, marking a record land purchase price in Nashville's history at $13.75 million per acre.
The project has enlisted a team of renowned partners, including the global architecture firm Gensler, Brentwood's SDL engineering firm, local civil engineering experts Ragan Smith, and the Nashville branch of CBRE. The Metro Planning Department is scheduled to review the final site approval request on April 11, marking a crucial step in the project's progression.
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