Home News Major reinvention planned for North Gulch property | Development

Major reinvention planned for North Gulch property | Development

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Atlanta-based Portman and Washington, DC-based National Real Estate Advisors take ownership of Northgarch as home to the Eleven North Apartment Complex and reinvent the site with additional buildings and improved green roads. I am planning.

Property seller with the main address of 20011th Ave.N.Was a partnership with Chicago-based GEM Realty Capital. The transaction was made through a quitclaim certificate transaction, the amount of which is not stated in the Davidson County Register of Deeds document, and Portman does not disclose the amount to be paid to approximately 10 acres of three estates.

Eleven North

Mike Green, Senior Vice President of Development for the Nashville Market, said future updates to the site would include a combination of existing raw land development and a “relocation” of the two apartments. ..

“We believe this property is an important connection between Northgarch and Midgarch, and between Church Street and 11th Avenue North,” Green said, adding this site and ultimately aerial pedestrians. Improves connectivity via / cyclist bridge / ramp. Church Street Viaduct and existing Metro Greenway. The ramp could be the city’s first such structure associated with viaducts.

According to Green, Portman expects at least three towers on the 16th floor and above to rise on the premises and will share specific designs and usage plans “in the near future.” The future of the two existing 11 North apartments is still uncertain. However, Mr Green said the housing structure, which does not offer retail stores, will remain for the foreseeable future. A public road lined with retail stores will be added between the two existing buildings. According to Green, the overall effort, albeit a multipurpose development, is expected to take at least 10 years.

Highwoods and Tidal Real Estate Partners (formerly Frank Inc.) are implementing or planning multiple projects within a specific segment of Northgarch, adjacent to Broadway to the south and Church Street to the north, Green said in Portman’s future. He talked about development. You can improve connectivity to areas north (Germantown, North Capitol, Hope Garden) and south (Gulch) of the site.

Portman is working on two Nashville projects: local developers David Creed and Mooreville in Midtown (read) here) And North Capitol Ballpark Village near First Horizon Park (read) here).

“We are very excited,” Green said of the Eleven North site. “This is our third Nashville project and the largest project we’ve ever had.”

Portman will also form a second partnership with the City’s Greenway and Open Spaces Commission on the city’s Greenway system. Portman will upgrade the portion of the Greenway that runs along the eastern border of Eleven North to improve the connection between the epicenter of Gulch and North Capitol / Germantown.

TriBridge Residential, Stonehenge Real Estate Group, and The Carlyle Group have developed the site in collaboration with Eleven North. According to Metro records, through LLC, these entities sold their newly completed apartment to Chicago-based Mesirow for $ 58.75 million in 2012. Mesirow then transferred its assets to the aforementioned GEM in February 2020.

In March 2021, GEM paid approximately $ 5.36 million for a 0.99-acre parcel ( here) 1021 Just south of the Grainger Industrial Supply warehouse at Dr. Martin L. King Jr. Blvd. Future Portman projects will include reinventing the parcel next to the warehouse.

For many years Nashville people have found that the 11 North Buildings, formerly loosely referred to as the Polar Ice Storage Building, provided a large brick warehouse owned by local developer Tony Jaratana. I remember it happened.

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