Dallas-based developer Provident Realty Advisors Inc. has revealed plans that could bring about 600 new apartments to the Germantown and Midtown neighborhoods in Nashville. The first of the two projects is being planned for 801 2nd Avenue N., a location that sits just south of First Tennessee Ballpark.
As it stands, the 801 2nd Ave N. project would rise 6 stories high and include 360 units, as well as a five-story parking garage with an additional level of parking below grade. As of today, the building site is still owned by the Tennessee Education Association, but a deal is reportedly in the works to sell the property according to multiple media outlets.
The second project being planned by Provident Realty Advisors Inc is located over at 615 Spruce Street, which lies just off the rapidly developing Charlotte Avenue. Combined, both projects are expected to be about a $125 million investment, which is just the latest of many indicators how strong growth is all over the Nashville area.
If approved, the projects would be Provident Realty Advisors’ first developments in the Nashville market, joining both Dallas and New Orleans as where the company currently has a presence.