A real estate developer has paid $5.3 million for a West Nashville development site between the Nashville West Shopping Center and the headquarters of TailGate Brewery.
Front Street Partners LLC, of Murfreesboro, now owns 14.4 acres at 7116 Charlotte Pike, according to public records. The developer plans to build more than 260 apartments, according to plans filed with Metro.
If built, the project would add to the 1,000-plus apartments that have recently opened or are under construction in the immediate area, which offers access to Interstate 40 and is not far from Bellevue.
Front Street is the development arm of Southern Building Group, led by John Elliott and Chad Davenport.
Front Street borrowed almost $4 million from Wilson Bank & Trust to help buy the land. Front Street bought the property from Nashville group Westside Ventures LLC, which paid one-tenth of the price for the land in 2006, according to Metro records.
Adam Klenk, with real estate company Capstone, represented Westside Ventures in the deal.
By Adam Sichko – Senior Reporter, Nashville Business Journal