Nashville-based ZMX Inc. has broken ground in East Nashville on a 71-unit condominium targeting first-time homebuyers.
To be locted at 1041 E. Trinity Lane, the four-story building will feature primarily studio and one- bedroom residences priced starting at $160,000, according to Ben Azzi, ZMX director of operations. The studios will be sized from 470 square feet to 550 square feet, with the one-bedroom units to start at about 750 square feet to 900 square feet.
The building — with a name not yet announced — is being designed Smith Gee Studio.
Amenities will include a fitness studio, mail room, two lounge areas and a rooftop deck. Surface parking and a pet station will also be available.
Operating as both developer and general contractor, ZMX is targeting an early 2020 completion.
"The Trinity corridor continues to facilitate exciting new businesses partnered with day-to-day amenities in the neighborhood," Azzi said. "Having this relationship between functionality and character is something we particularly like about the area. That, partnered with the site's accessible price and location to arterial thoroughfares and downtown make it a great opportunity for buyers to get a foothold in the East Nashville market."
This is the third project in the East Trinity corridor for ZMX. The company served as general contractor for Greenline Partners' recently completed Edison and Trinity Commons Townhomes.
Franklin Synergy Bank is providing construction financing.
Of note, Hendersonville-based Stratos Development Group previously eyed developing the 1.2-acre site after having acquired it for $1 million in December 2016 (read here).
Stratos sold the site to ZMX in December 2018 for $1.8 million, according to Metro records.