LC News

The Tennessean: SoBro multifamily project site grows

The Tennessean
The Tennessean

Read more for information regarding development of a new project in Nashville.

Lifestyle Communities paid $2.63M for land at Second Ave. S. and Ash Street

An Ohio-based developer has paid $2.63 million for a 0.71-acre site in the area south of Broadway, adding to property it is assembling for a multifamily project.

Columbus-based Lifestyle Communities bought the eight parcels at the corner of Second Avenue South and Ash Street from the Edwards family.

That vacant site currently used for parking is adjacent to nearly 0.4 acres at 716 Third Ave. S., which the multifamily developer bought 10 months ago from the Alexander family.

"More than anything, our moves this week in SoBro further solidify our long-term commitment to Nashville," said Chad Thompson, a Lifestyle Communities spokesman. "We are thrilled to integrate our offering into the neighborhoods of Nashville where our residents and guests want to belong to."

In the latest purchase, Lifestyle Communities' affiliate LC SoBro LLC paid roughly $85 a foot for the 0.71-acre site. Broker David Stremic represented the Edwards family in the sale transaction.

Elsewhere in the Nashville area, Lifestyle Communities plans the 450-unit LC Germantown mixed-use building at the northeast corner of Second Avenue North and Madison Street in Germantown. The company also built the 403-unit LC Henley Station apartments off Medical Center Parkway in Murfreesboro and the 451-unit LC Providence community in the Providence Marketplace area of Mt. Juliet.

Reach Getahn Ward at 615-726-5968 and on Twitter @getahn.

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