Albion Residential, a Chicago-based developer, has closed on the property for Albion Music Row, a two-tower residential project in Nashville featuring more than 850 units, restaurants and retail, and a dedicated public plaza within the new urban district forming with midtown’s future redevelopment.
Albion Music Row’s site, which Albion closed on June 5th, is comprised of five lots located at the southwest corner of the intersection of McGavock Street and 14th Avenue, adding up to 2 acres. The purchasing price was $31 million.
The first tower, which is 29-stories and 350 feet tall, will feature 458 units and is expected to break ground by the end of 2023. The second tower is currently planned for 392 units.
Both towers will be activated with retail and restaurant spaces at the ground floor allowing for overflow into its centerpiece: a more than half acre public green space which will featuring public art and a performance stage and great lawn to encourage regular music uses. In keeping up with the traditions of neighboring Music Row, Albion Music Row will also feature an active recording studio.
“We are thrilled to close on this property, advancing our vision for Albion Music Row and bringing to life its more than 850 units and potential as an activated residential hub for Nashville’s next great urban neighborhood,” said Andrew Yule, Vice President of Development at Albion Residential. “With Albion in the Gulch having its first residents, we believe the market now understands what separates our properties when it comes to luxury, design and amenities. We’re excited to continue to work in Nashville with Albion Music Row.”
Albion Music Row is designed by Hartshome Plunkard Architecture of Chicago with Nashville-based companies Barge Cauthen & Associates as Civil Engineer, Hodgson Douglas as Landscape Architect, SDL as structural engineer, and I.C. Thomasson as MEP engineer. Albion Music Row will pursue a LEED Silver designation.
Albion Residential has completed an SP (specific plan) zoning for the property and will be seeking its final MDHA approval on June 6th.
This is Albion’s second large scale project in Nashville’s urban core, as Albion in the Gulch, a $140 million tower with 415 premium rentable units at 645 Division Street, began move-ins earlier this year and is celebrating its grand opening on June 8th.
