Thursday, July 21, 2016 08:00 AM

APARTMENTS, RETAIL EYED FOR THE MELROSE'S SECOND PHASE

The developer of The Melrose mixed-use development in Berry Hill is gearing up to build a second phase that's expected to include 139 new apartment units and 8,500 square feet of retail space.

The Parkes Cos. Inc., which along with Fulcher Investment Properties redeveloped the historic Melrose Theatre into apartments and retail space, looks to build that next mixed-use phase on 1.2 adjacent acres.

That targeted site at the southeast corner of Franklin Pike and Kirkwood Avenue includes where a Regions Bank branch sits at 2610 Franklin Pikeplus the former fabric store location at 2608 Franklin Pike.

Earlier this month, the Berry Hill Board of Zoning Appeals approved Parkes' request for a trailer near the south end of the existing Melrose apartment building, which would be temporary home for the Regions Bank branch. Regions Bank would move back into a portion of the new mixed-use building, which is being designed by Humphreys & Partners Architects LP.

The second-phase planning comes as Parkes and Fulcher Investment are nearing a contract to sell the existing Melrose development, which includes 220 apartment units and retail/restaurant space. Commercial tenants include The Sutler andSinema restaurants and modern diner Fenwick's 300.

The Melrose's parking lot spaces where the Regions Bank trailer will sit and those that run along the alley will be lost during construction of the second phase.

The second phase of The Melrose is ...

News source: http://www.tennessean.com/story/money/real-estate/2016/07/20/apartments-retail-eyed-melroses-second-phase/87337906/

See also: Trauger