Builders have finally begun excavations for the long awaited six-level garage project to be built at Parmenter Realty Partners’ 27 story office tower at 511 Union Street, in the center of Nashville.
Once complete, the six level garage will provide a total of 475 new parking spaces, including five levels of underground parking and one surface parking lot for tenants at the Nashville City Center building, visitors to the building and members of the public. Builders expect the project to be complete before the end of 2013.
Richard Fletcher, of Parmenter Realty Partners, the real estate investment company based in the Nashville City Center building, said that the project was an important one for the city as much as his company:
“Nashville’s downtown doesn’t have enough parking spaces to support existing commuters. The garage has been designed to not only provide our tenants the convenience that comes with this added amenity but also with structural forethought so that in the future the garage is capable of supporting another five levels of parking and another 20 levels of office space. We’re thinking about the long-term market potential for the property and this is our latest step in keeping Nashville City Center’s place among the top buildings downtown.”
The garage project was designed by Gresham, Smith and Partners (GS&P), the company which is also the architect of record for Nashville. GS&P has established itself over the last 45 years as one of Nashville’s most successful architectural design companies, well known for its sustainable and life quality-enhancing designs. In turn, the architects recommended the contract be awarded to local contractor R.C.Matthews, who was later chosen by Parmenter.
Financing for the project has been delivered by the American National Insurance Company and Grandbridge Real Estate Capital, whilst Gresham, Smith and Partners will continue to oversee the project from start to finish.
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