A real estate investor from Nashville is planning to develop its 7.5-acres prime property across the convention hall of the Music City Center into a campus. The plans are expected to provide the city the needed edge to be able to attract and retain the “creative class” members.
McIntyre Ventures envisions the development of its Pantheon Park plans as the ideal gathering spot for artists, performers, videographers, entertainment and music producers, digital gamers, coders, and writers. The plans will include recording and production studios, performance halls, and accelerator to target entrepreneurs as well as technologies in developmental stage.
According to Tom Baldridge, local developer and founder of Pantheon Park and McIntyre Ventures, the plans will make it possible to blend technology with Nashville’s entertainment and music to attract and retain creative talents in both technology and entertainment and individuals in the computer science field.
McIntyre Ventures has contract with United Methodist Publishing House that owns the 7.5-acre property including its headquarters, three parking areas, and the Cokesbury bookstore close to the latest roundabout. Bordering the property are several streets including Lea Street, Demonbreun Street, Tenth Avenue South, and Eighth Avenue South.
The Music Center is set to open this May, which increases the demand for properties and land near the area in the Broadway south. A lot of developers with hotel plans have purchased properties close to the convention hall to make way for projects, including the recent land sale near the downtown area that was bought for a record price.
Fred Kane, land services vice president of the commercial real estate group Cassidy Turley estimates an over $40 million fetch for the property.
Kane considers the property site as the best in Nashville, noting the 30-acre site along the Charlotte Pike with its plan for redevelopment according to the owner Northwestern Mutual & Boyle Investment Company.
Baldridge indicated that the McIntyre Ventures goal is to create an ideal environment for creative individuals to function at their best with the transition of music and other industries to digital age. Baldridge added that the company would like to create a sandbox with all the necessary equipment for the creative crowd to achieve their goals.
McIntyre Ventures partners with Nashville-based Tuck-Hinton Architects for the plan design.
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