Nashville City Center Parking Breaks Ground

Nashville City Center’s (NCC) long-awaited parking garage has finally broken ground. The six-level parking facility now under construction at Parmenter Realty Partners’ 27-story downtown Nashville office tower will provide 475 new parking spaces

Nashville City Center’s (NCC) long-awaited parking garage has finally broken ground. The six-level parking facility now under construction at Parmenter Realty Partners’ 27-story downtown Nashville office tower will provide 475 new parking spaces. The 511 Union Street garage will have five levels of underground parking and one level of surface parking. The facility will serve NCC tenants and their visitors as well as the general public.

“Nashville’s downtown doesn’t have enough parking to support the existing commuters,” said Richard Fletcher of Parmenter Realty Partners. “We’re thinking about the long-term market potential for the property and this is our latest step in keeping Nashville City Center’s place among the top buildings downtown,” he added.

The future potential of the facility is expressed in its structure, designed to support not only five additional levels of parking, but 20 more levels of office space as well. In charge of design and every architectural aspect for the parking garage, as well the NCC, is internationally recognized architecture and engineering firm Gresham, Smith and Partners (GS&P). Regarding their choice for general contractor, GS&P senior vice president Steve Johnson said, “We are working with general contractor R.C. Mathews to sequence the construction in a way that excavation and construction will be as minimally intrusive as possible for those with businesses in operation around the site.” He added, “Once complete, the garage will certainly be an added benefit to not only the NCC but other buildings within the area.”

Permanent financing, as well as construction financing, has been insured by American National Insurance Company (Anico) via Grandbridge Real Estate Capital’s Gary Dunkum.

South Florida-Headquartered Parmenter Realty Partners is a real estate investment, management and development company focused on the Southern Tier of the US.

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Photo courtesy of Parmenter Realty Partners via BusinessWire

Chart courtesy of CBRE