Nashville-headquartered Southern Land Co. has announced it will be moving forward with its mixed-use Green Hills project, albeit in a scaled-down version, reported the Nashville Post. The project—which landed the company in hot water with area residents, after it supersized its initial plans from a 14-story tower to 22 levels—was recently withdrawn from the Metro Planning Department, and it will be redesigned to a 16-story height.
According to the Nashville Business Journal, Southern Land is targeting a late spring or early summer groundbreaking and a 2016 completion. In its downsized version, 4000 Hillsboro Pike will feature 285 apartment units, including 20 penthouses, 600 parking spaces and 60,000 square feet of multi-level office space located atop 15,000 square feet of street level retail. Two restaurants are also included in the project. Residential amenities include a fitness center, swimming pool, sky lounge, teaching kitchens, events plaza and a dog park. Although the cost of the project has yet to be released, the site, comprised of three parcels, had a price tag of $13.5 million. According to the project’s website the developers, a joint venture between Southern Land and Redwood Capital LLC, will also invest over a million dollars in area infrastructure improvements. The project is expected to be a success due to its location between Nashville CBD and Brentwood/Franklin, the area’s strongest Class A office and retail markets, as well as its adjacency to the wealthy Belle Meade neighborhood, where single family homes start at $750,000 and can even hit eight figures. Green Hills, the neighborhood of 4000 Hillsboro, is also an affluent area, and lacks rental housing.
Other area multifamily projects by Southern Land include the $60 million 331-unit Elliston 23 in Nashville’s West End, Tennessee’s first LEED Silver-certified multifamily property and the 370-unit Dwell at McEwen in Franklin’s Cool Springs area.
Rendering courtesy of Southern Land