Tuesday, January 13, 2015 04:00 PM

BILTMORE RIDGES PROJECT IN BELLEVUE MOVING FORWARD, DEVELOPER SAYS

A Dallas developer said it plans to proceed with the Biltmore Ridges mixed-use project at Interstate 40 and McCrory Lane in Bellevue after resolving legal issues with its lender and emerging from bankruptcy.

Nashville Biltmore LP will spend up to six months securing permits and other approvals to allow construction to start this fall, said Frank Deleo, spokesman for the entity that consists of European investors.

Plans call for a nearly one million square feet project to include 1,400 single family homes and townhomes, retail shops, hotels, and medical office space. "We are pleased to have navigated through this tough period and now look forward to getting back to work," Deleo said.

Nashville Biltmore said it has been receiving many calls from major retailers and homebuilding companies interested in the project. Talks are underway with two large holding companies interested in the road and infrastructure and potential for vertical development, Deleo said.

Biltmore Ridges was originally planned in 2006 and proposed in 2011 for more than 1,100 acres in Bellevue. Metro Council passed a tax mechanism to pay for infrastructure before the developer sought Chapter 11 bankruptcy protection in 2012 and the more than $300 million project stalled.

Last fall, it was released from bankruptcy ...

News source: http://www.tennessean.com/story/money/real-estate/2015/01/12/biltmore-ridges-project-bellevue-moving-forward-developer-says/21670491/

See also: Trauger