First Hotel to Open in Gulch Has $17.5 M Price Tag
By Eliza Theiss, Associate Editor
Details of the first ever hotel to be built in the posh district of The Gulch have surfaced, with the Nashville Business Journal reporting that the property, currently in construction has a development price tag of $17.5 million, just short of $139,000 per unit. The hotel, a future Fairfield Inn & Suits by Marriott is being developed by Chattanooga, TN-based Vision Hospitality with Brentwood, TN-based Biscan Construction as main contractor.
According to a press release the aptly named Fairfield Inn & Suites, Nashville Downtown @ the Gulch will be eight stories tall and feature 126 rooms. The building’s modern design will complement the contemporary Gulch architecture. It will also offer panoramic views of the Nashville skyline. The property, expected to open in the first quarter of 2014, will pursue LEED certification to further integrate itself into the neighborhood—The Gulch has been certified a LEED Green Neighborhood since November 2009.
The hotel will feature amenities such as a 1,500-square-foot meeting room and a rooftop bar, according to the Nashville Business Journal.
Plans to develop the Fairfield Inn & Suites, Nashville Downtown @ the Gulch have been in motion for over a year now. In late 2011 the Nashville Post reported that Vision Hospitality purchased two parcels in The Gulch for $2.3 million. The developer, through its Nashville presence Vision Nashville Gulch LLC, picked up a warehouse from Purcell Development for $1.31 and an adult bookstore from Blue Sky Holdings for a little over $1 million. Both sites are on Division Street, granting the future hotel easy access to Music Row, Music City Center and Downtown Nashville.
Fairfield Inn & Suites, Nashville Downtown @ the Gulch is one of eight hotels either in operation or development by Vision Hospitality. The company’s Tennessee portfolio includes two properties in the Greater Nashville region; the Hyatt Place Nashville Airport and the Hilton Garden Inn Nashville/Franklin/Cool Springs with two additional hotels in development; the Residence Inn and Courtyard by Marriott in Murfreesboro, TN.
Rendering courtesy of Vision HospitalityTags: Architecture/Design, Biscan Construction, Developers, Development, Fairfield Inn & Suits by Marriott, Finance/Investment, Financiers, Green, Hospitality, Investors, LEED Green Neighborhood, Local, Nashville hotel development, Nashville Lead Story, National, Owners, Regional, Vision Hospitality