new apartment development in the works for demonbreun

long thought to be the site of a future office building, 1515 demonbreun st, the former lot of the old barbara mandrell museum will soon become a 225-250 unit apartment project.  the ground level could contain retail and possibly a grocery store is the rumor on the street.  currently being used as a parking lot for tin roof and the other retail across the street, lionstone is said to be selling the land for $3.5 million/acre.  only about half of the 3 acres will be designated for the development.  some may remember the highly contested dispute over the lot with joy ford who owns a small adjacent property that she refused to sell for the initial proposed $70 million office building about 4 years ago.

although the deal isn’t finalized yet and completion could be a couple of years away, the sale could close by year’s end with a groundbreaking in early 2012.


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