A Ritz-Carlton, one of world’s more high-end hotel brands, will be the anchor of a $585 million project slated for SoBro, with an early-2022 groundbreaking slated.
According to a release from Florida-based M2 Development Partners, both a mixed-use building to house the luxury hotel and high-end condominiums and an accompanying apartment structure will rise on a six-parcel property with a main address of 401-417 Seventh Ave. S. at the Korean Veterans Boulevard Roundabout.
The release notes the hotel and condo tower will rise 46 stories (it previously was reported at 42 floors), with the apartment building to stand 32 floors.
The site has been eyed for a tower since at least 2017, at which time locally based The Mainland Companies owned it.
As the Post previously reported in January, the buildings will have a collective 1.2 million square feet, 240 Ritz-Carlton hotel rooms, 150 for-purchase condos, 185 for-rent units, a 6,000-square-foot spa, a 30,000-square-foot meeting/banquet area, 10,000 square feet of retail and a 560-spot garage. The project is expected to be LEED Gold-certified.
Founded in 1983 and based in Bethesda, Maryland, Ritz-Carlton Hotel Company operates more than 100 luxury hotels and resorts in 30 countries and territories. Its parent company is Marriott International. The U.S. city with a Ritz-Carlton and located within the closest proximity to Nashville is Atlanta.
In April 2020, Maryland-based RC Nashville Development Partners LLC, an entity affiliated with developer Tim Morris, paid Mainland $35 million for the unimproved property, according to Metro records. Mainland acquired the property in two separate deals — one in 2015 and the other in 2016 — for about $8.9 million, according to Metro records.
Morris, who served in the U.S. military in the 1980s, oversees M2 and is affiliated with Clay Street Partners, which is undertaking the Linden Row residential project near Hillsboro Village.
Morris told the Post Monday the team is planning to break ground in the first quarter of 2022, with a mid-2025 completion being eyed. M2 is currently in discussions with potential debt and equity partners for both its Nashville and Austin Ritz-Carlton projects.
Relatedly, M2 Development has also added Nashville-based developer Steve Armistead and Jared Bradley to the project. Armistead and Bradley are already partnered with M2 on two other projects in Nashville, Linden Row Residential (a 38-unit townhome project located on 21st Avenue South near Hillsboro Village) and Clay Street Commons, a 50-unit apartment project in North Nashville.
"It was a natural transition," Morris said about the additions. "We are very excited to have Steve and Jared as part of M2’s expanding local presence here in Nashville. We are very bullish on the market."
The site sits within the Metro Development and Housing Agency’s Capitol Mall Redevelopment District. As such, MDHA Design Review Committee approval of the buildings’ exterior forms and functions will be needed.
Chicago-based architecture and engineering firm Skidmore Owings & Merrill is handling design of the two towers, which will share a base.
The amenities and services for the condominiums and rental apartments will include, according to the release, multiple dining options in addition to a roof-top restaurant, 24-hour bellman/doorman and front desk services, security and valet parking, charging privileges and direct billing for hotel services, mail and package acceptance, temporary storage and deliver, workout facilities, pools and lounge areas, media rooms, private entrances, and more.
Sitting across the street from the Music City Center, the property is located near both the JW Marriott and Westin hotels. Nearby sites are planned for redevelopment by both Dallas-based Lincoln Property Co. (read here) and Nashville-based development company Giarratana (read here).