SomeraRoad has secured financing and is beginning construction on the first tower within its mixed-use district Paseo South Gulch in Nashville.
The first tower will be known as Prima, and will offer 278 multifamily units, 18,000 square feet of Class-A office space and 8,000 square feet of retail. The ESa-designed project is fully financed, backed by loans from Safehold Inc. and S3 Capital.
Its expected completion is by the third quarter of 2023 with Clark Construction acting as general contractor and Martin Stroble, vice president of Construction at SomeraRoad, leading the project’s construction.
Once completed, the tower will complement and connect with the recently completed adaptive reuse of two revitalized historic buildings, featuring office and retail, which were awarded the 2021 INVEST Award by the Nashville Downtown Partnership. Prima will be joined by future towers within Paseo South Gulch, with a second tower expected to begin by early 2023.
SomeraRoad began planning Paseo South Gulch as a future blueprint for meeting Nashville’s urban growth needs while maintaining character through historic preservation.
Located on the east side of 8th Avenue South north of Fogg St., Paseo is part of South Gulch, an emerging district east of Magazine St. and South of Gleaves St. known for exceptional adaptive reuse projects, new creative buildings, and high-rise towers.
To deliver on the potential of the district, SomeraRoad has enlisted an all-star team of project partners, including ESa, Hawkins Partners, Manuel Zeitlin Architects, and Kimley Horn on the design front.
For all components of Paseo South Gulch including Prima, Charlie Gibson of Cushman & Wakefield leads office leasing and Elam Freeman of Ojas Partners leads retail leasing.
