Yesterday, The Tennessean reported that Indianapolis-based developer Buckingham Cos. has acquired the vacant building site at 12th and Division where plans are in the works to develop what would be the tallest building in the Gulch neighborhood.
Records indicate that the site, which is currently an empty parking lot, was purchased for roughly $3 million, but final plans have not been completely settled upon. The new owners of the property are continuing to monitor market activity in Nashville and based on demands and needs in the city, they’ll move forward accordingly.
Last fall, the Metro Board of Zoning Appeals approved an exception that would allow developers to build a 38 story residential tower at 701 12th Avenue S, which came after residents in the nearby Icon at the Gulch expressed concern regarding an impact on how much sun their courtyard swimming pool would get if such a project were to move forward.
The entire building site occupies about 0.48 acres and is currently occupied by Nashville-based Premier Parking. As for whether the new tower will include rentals, condos, or a combination of both, we’ll just have to wait this one out just a little while longer.