Holladay Properties has begun development of a new multi-family residential project in Nashville, Tennessee, to be known at fifty forty flats. Holladay acquired the property at 5040 and 5042 Linbar Drive in September of 2019, which included two Class-C office buildings on 4.40 acres.
The project involves the reuse and redevelopment of the two existing three-story office buildings into modern apartments and the construction of two new three-story townhome buildings on the extra land. Once completed in summer of 2021, fifty forty flats will include 116 units featuring a mix of studio, one-bedroom and two-bedroom units.
“We’re targeting an urban workforce demographic, with affordable rents and a shorter commute for people working in and around the downtown core, the airport, etc.,” said Allen Arender, Partner and SVP-Development for Holladay Properties.
Fifty Forty Flats will feature a variety of amenities including an on-site dog park, fitness room, game room, outdoor grills and patio area, and a full appliance package including washer/dryer in each unit. The property will be gated with access control for residents and guests featuring enhanced landscaping to accentuate the natural surroundings and walkability of the community.
Nashville-based Solomon Builders is serving as the general contractor for the project, which broke ground in August 2020. The project team includes: Barnett Design Studio as the architect, S+H Group as the civil engineer, Edge Planning as the landscape architect, First Farmers Bank of Columbia as the lender, and Freeman Webb as the property manager.