A New York City-area development company has paid $9.26 million for multiple East Nashville parcels on which it plans a large-scale mixed-use project.
According to a Davidson County Register Deeds document, the new owner of the property is Rethink Community Nashville JV LLC. That entity is affiliated with Rethink Capital Partners, a company focused on undertaking socially responsible development and based in White Plains, New York.
The main address of the property is 1410 Dickerson Pike, which is north of the road's intersection with Douglas Avenue. Murfreesboro-based TTF Investments LLC was the seller of the bulk of the roughly 27-acre site. It sold its portion of the site to Rethink for $8.75 million after having paid $3.3 million for it in two transactions (one in 2016 and the other in 2017.
A married couple (the Howards) sold the other properties for $510,000.
In addition, and according to a source who asked to go unnamed, Rethink has acquired some additional properties adjacent to the just-bought site. The register of deeds has yet to record those deals, and Rethink officials could not be contacted for comment.
Nashville-based Hastings Architecture Associates is expected to be involved in designing the site’s future buildings, the source said, adding that plans are still being formulated. Townhomes, apartments, retail and some public green space are expected.
A portion of the just-sold properties are sandwiched by The Dive Motel and the a 2.97-acre site on which an LLC that includes Tyler Cauble, founder of locally based The Cauble Group and Parasol Management, plans The Provisionary (read here), work for which has yet to start.
The site is located near Cleveland Street, which eventually will be extended under the interstate to connect to the East Bank and River North (to be home to the future Oracle campus).