Details are emerging for the project planned for the Midtown site once home to Lee Beaman’s auto dealership — with the eight-acre site eyed for four buildings
According to a document submitted to the Metro Water and Sewer Services Department, the future buyer will develop the site with a five-story building with 80,000 square feet of retail space and 420 residential units and three nine-floor office buildings, each with 230,000 square feet, ground-level retail and a parking garage.
The document notes water and sewer availability are being requested and is an update to a document about which the Post reported in early August. The Nashville office of architecture and engineering firm Goodwyn Mills & Cawood is participating in the effort.
The document notes the development is planned for a part of the overall Beaman property bordered by Broadway on the north, 14th Avenue on the east, McGavock Street on the south and 16th Avenue on the west. The project as envisioned seemingly will offer ample exterior space, and the retail spaces seemingly will face both 16th Avenue and Broadway.
The Post has been unable to identify the prospective buyer/developer.
Beaman’s massive Midtown sites, which have a main address of 1525 Broadway, have been mentioned for years as prime for redevelopment.
Beaman, who sold his auto dealership inventory to Hudson Automotive — read more on that here — promptly listed his properties following that late-2020 deal. The quartet of properties he is attempting to sell spans a collective 17.8 acres. Asking prices are not being disclosed.
The Midtown properties are recognized as the long-time home of the Beaman Toyota dealership (now owned and operated by Hudson), with the site eyed for the four buildings having addresses of 1501-1531 Broadway. Another property covers 1512 through 1532 McGavock St., and sits across McGavock from the main site. A related ancillary parcel at 1500 Demonbreun St. offers 2.95 acres at that street's bridge over downtown's interstate loop.
Of note, Beaman’s 6.8-acre property with addresses of 920 and 1000 Hawkins St., located off 12th Avenue South in Edgehill and near The Gulch and SoBro, is under contract to be sold to Chicago-area-based apartment development company Marquette Companies. That entity plans to build North Edgehill Commons on the site (read here), which houses a former Beaman service center building.
Beaman owns the properties via various entities and acquired them in multiple transactions, with some dating to 1977. Metro records are unclear as to what he paid for all the properties, though the collective acquisition price was well north of $5 million.
Beaman has enlisted Rob Lowe, the locally based executive managing director and partner of Stream Realty Partners of Dallas, and Robby Davis, senior managing director of the local office of Cushman & Wakefield, to handle the marketing and sale of the property. Lowe could not be reached for comment, but the details on the document suggest the property is under contract.
Across Broadway, the Reed family property home to Subaru and Hyundai dealerships is under contract to be sold to Houston-based development company Hines. A major redevelopment of that site, with multiple mid-rises and high-rises, is being planned.