Tuesday, April 19, 2016 09:00 AM

35-STORY RESIDENTIAL TOWER PLANNED FOR SOBRO

A 35-story residential tower that would include eight levels of parking and ground-floor retail is in the works for the rapidly developing Demonbreun Street.

Charlotte, N.C.-based Crescent Communities and Brentwood-based Pearl Street Partners are behind the project called Crescent Demonbreun, which is planned for 852 Demonbreun St. on a portion of the former United Methodist Publishing House headquarters site.

If approved, the tower would sit next to Turnberry Associates’ 33-story, 533-room JW Marriott Hotel & Conference Center, which is under construction.

 

On Tuesday, the Metro Development and Housing Agency’s design review committee will consider plans that call for two levels of underground parking, ground-floor retail, six levels of above-ground parking and 28 levels of residential units.

Aventura, Fla.-based Turnberry Associates acquired the 3.72 acres on the southwest corner of Demonbreun and Eighth Avenue South for $28.4 million in 2015. Originally, the company planned to build a 22-story, 400,000-square-foot office building next to the JW Marriott, but the company scrapped those plans last year and put that portion of the overall site on the market.

Crescent and Pearl Street have the 0.87-acre site under contract.

 

Khris Pascarella with Pearl Street Partners ...

News source: http://www.tennessean.com/story/money/real-estate/2016/04/18/35-story-residential-tower-planned-sobro/83198968/

See also: Trauger