as land in the urban core continues to become a premium, investors are discovering areas in between hot neighborhoods like 12 south and the gulch as ideal opportunities. last week, nashville real estate investor treg warner paid $2.1 million for the drive-thru liquor market on the corner of 12th and wedgewood avenue. no official word of his plans for the .41 acre lot but he also owns the lot behind it and last year, he purchased the lot that thai esane currently sits on at 907 12th avenue south.
about five blocks south of the gulch, nashville-based evergreen has started demolition at the corner of 12th avenue and archer for the upcoming archer at 12th project. they plan to build 49 free-standing brick brownstones facing the city with the option of garages and rooftop terraces. the 3-story homes will span down archer starting at 12th all the way to the cul-de-sac a couple of blocks in. the first phase will be completed by spring 2016.
an announcement was made this week that mainland cos. would build a 5-story, 75-unit apartment building above a 2-story parking garage where the special olympics headquarters currently sits at 1900 12th avenue. the .80 acre lot was purchased three months ago. the special olympics is relocating this summer to 461 craighead street in the melrose area. construction may start as early as june.
groundbreaking on phase I of element gulch, a 19-unit residential project, should start later this month at the corner of hawkins street and 13th avenue south. with nashville-based developer bill ruff at the helm, base prices on a 3 bedroom/3.5 bath will begin at $519,000.
more updates soon on the redevelopment of edgehill village area too which will continue to shape this part of town.