How is Music Row Property Changing?

Music Row is an area in downtown Nashville, Tennessee where country, gospel and Christian music industry businesses are situated.

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How is Music Row Property Changing?

Posted by Gary Ashton: RE/MAX ADMIN on Friday, October 17th, 2014 at 11:35am.

Music Row is an area in downtown Nashville, Tennessee where country, gospel and Christian music industry businesses are situated. Music Row is thought to be the heart of Nashville’s entertainment industry and many record labels and recording studios live here.

While Music Row property used to be the coveted place for musicians and those in the industry, the area is evolving. Music sales have declined and record labels are becoming obsolete. Due to this change, Music Row property is going to be developing into more of a midtown landscape rather than music center.

What to Expect

One business that will be making its way out is the RCA building on 17th Avenue. Since it costs $5.1 million to preserve it, the tenants of this building will be out by the end of November. There are plumbing, electrical, and structural issues that need resolved and the building is no long profitable. The building will most likely be demolished and in 2015, they are looking to make it a five-story mixed-use building including condominiums and restaurants.

The Lennar Multi-Family building is going to be made into M Residences by the summer of 2015. It will be a 19-story 300-unit apartment building containing retail space and restaurant space.

Other Upcoming Developments

Skyhouse, a luxury apartment high rise, will be coming to the corner of 17th Avenue and Broadway to offer housing, fitness center, pool and an outdoor plaza.

Virgin Hotels will be building a hotel at the corner of Division Street and 17th Avenue in the lot across from the ASCAP building. This should be ready in 2016.

In addition to these buildings that will no longer be a part of the Music Row landscape, the old Porter Wagoner’s Studio was already torn down to make Artisan on 18th. This is another apartment building standing 6-story’s tall.

While some of the traditional Music Row businesses remain, you’ll start to see Music Row shift into a residential and commercial area in the coming years.

 

Gary Ashton

The Ashton Real Estate Group of RE/MAX Advantage

The #1 Real Estate Team in Tennessee and #4 RE/MAX team in the world!

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