Gulch site eyed for boutique hotel sells for $11.5M

Local restaurateur Chris Hyndman and a group of investors have paid approximately $11.5 million for a Gulch property on which they plan a modernist building to house a boutique hotel with a gastro pub, a restaurant, a wine cellar and spaces for art and music.

The seller of the 1.11-acre site, located at the T-intersection of 11th Avenue South and McGavock Street, was CHP LLC, an entity affiliated with veteran Nashville-based developer Jim Caden and various business partners.