The Colonial Bakery Site of Melrose has plans underway to add a new 328-unit apartment complex thanks to Alliance Residential Co. The building is going to feature not only apartment buildings but also a 71,000-square-foot retail building.
They plan to call it Broadstone Eighth South and it will be four stories tall. The retail area will face Franklin Pike and the apartment building is going to face Elliot Avenue. Here is a look at what to except for this new retail and apartment development coming to Melrose.
Alliance Residential Company
Alliance is purchasing a 6.41 acre site from Eighth South LLC, a local investment partnership. They had purchased the site at 2407 Franklin Pike for $9 million just two months ago. They are a Phoenix-based multifamily developer.
The project is going to feature 71,000sq.ft. of retail and a 328-unit apartment complex located at the former Colonial bakery site. You can park 340 cars in the retail portion and 480 spots on the apartment side.
If approved by Berry Hill’s planning commission, the lot at Eight South will be split into two consolidated lots with a 2.04 acre plot designated for retail and 4.38 acres for apartments. They will call the development Broadstone Eighth South.
The only issue is a Southern magnolia tree in front of the bakery building that is a concern on the preservation front. Eighth South is already working with a preservation counsel to try to get the tree moved without damaging it. They think it will be a win-win situation for everybody.
The building’s concept is to be a four-story apartment building facing Elliot Avenue and a section facing the Franklin Pike. Then the entire retail building will face Franklin Pike. The former bakery site is actually spilt between the satellite city of Berry Hill and Metro Nashville.
This new development will be a great addition to Melrose residents.
The Ashton Real Estate Group of RE/MAX Advantage
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