East Nashville Project Receives $19M Loan
Reliant Bank originated the note for the development of the 163-unit community.
High View Cottages and Flats. Image courtesy of EOA Architects, PLLC, with rendering by Frost Visualizations
Core Development has received a $19.3 million construction loan for High View Cottages and Flats, a 163-unit community in Nashville, Tenn. Reliant Bank is the lender, according to Davidson County records.
The property will encompass 88 for-sale condos in two buildings and 75 individual cottages. The unit mix will have studio, one- and two-bedroom floorplans between 668 and 1,240 square feet. The cottages will have two- and three-bedroom floorplans, ranging from 1,412 to 1,998 square feet. The amenity package will include a conference room, gym, pool, outdoor grilling station and pet park.
The site for the EOA Architects-designed project is an 11-acre parcel at the intersection between East Trinity Lane and Edwin Street in East Nashville. In 2015, the developer acquired the land for $1.4 million from a private investor. The location is 1 mile east of Interstate 24 and 4 miles northeast of the city center.
Additionally, the property is 5 miles from The Pearl, a 50-unit community which recently received a $12.8 million construction loan. Clearbrook Holdings Corp. will use the funds for the development of the property’s second phase, which will add 108 units across the street from the existing apartments.
