Nashville, Tenn.—ParkCentral, an eight-story, 200-unit luxury rental community overlooking Centennial Park in Nashville’s West End, is now under construction.
The announcement that construction had commenced was made August 29 by North American Properties (NAP), a leading developer and manager of multifamily, retail and mixed-use properties across the country. First units will be available in summer, 2013.
This was the right time and place for ParkCentral, NAP officials believe. “Nashville continues to exhibit strong employment, entertainment and educational fundamentals,” Richard Munger, partner and vice president of development for NAP, tells MHN.
“ParkCentral’s location was chosen to benefit directly from each of these key metrics. The site fronts the 132-acre Centennial Park, and is within a short walk of Vanderbilt University, two major hospitals and the extensive retail and entertainment options on West End Avenue.”
In addition to providing a mix of one- and two-bedroom apartment homes, ParkCentral will offer a host of luxury amenities. Among them will be an eighth-floor rooftop deck overlooking Centennial Park, Nashville’s premier urban park. The deck will serve as a hub for socializing, and will feature an expansive salt-water pool surrounded by comfortable year-round seating. Also on the rooftop, ParkCentral will offer residents a high-end fitness center and a resort-style clubroom opening onto an outdoor kitchen.
As Munger suggests, ParkCentral is conveniently situated to almost everything on Nashville’s West End. It is two blocks from Vanderbilt University, one block from Centennial Hospital, and less than one-half mile from Baptist Hospital.
And as the only luxury residential community right on Centennial Park, ParkCentral offers an adjacent expanse of greenery larger than Boston Commons and nearly as large as Piedmont Park in Atlanta.
“ParkCentral residents will have the ultimate playground right in their front yard,” Munger says.
“In a single day one could walk home from work, exercise on the park’s running trails, attend one of the many seasonal festivals or concerts at the park, walk to dinner and attend a sporting event at Vanderbilt.”
No major obstacles have appeared thus far in the development process, Munger adds. “Entitlements were in place on the property, with only a few minor variances needed prior to closing,” he reports. “Our biggest challenge has been the relocation of the city’s 100-year-old, 102-inch combined sewer line that bisected the property. The relocation was recently completed, which allowed us to start our building foundation activities.”
NAP officials are excited the company is part of Nashville’s continued growth in urban areas like the Centennial Park/Vanderbilt University submarket, Munger concludes.
“Nashville has a bright future ahead of itself,” he says. “And high-quality multifamily options such as ParkCentral in key, walkable locations will be very well received by the market.”