Dickerson & Meridian : twelve 3 to 7 story residential complex; 1,150 units; internal garages; some retail; 14.4 acres; $300+ million cost

[markhollin]

Metro Council on Tuesday gave Austin-based Cypress Real Estate Advisors approval on second reading for its proposal for up to 12 buildings (ranging from 2 to 7 stories) including retail space and 1,150 residences on the site of the now-demolished RiverChase Apartments. A final vote is scheduled for the council’s Nov. 15 meeting.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/east-side-mixed-use-project-moving-forward/article_3af7b34c-5bba-11ed-addf-4b231a7850ae.html

[lmc123]

Big day for this one tomorrow

[lmc123]

This one passed on third and final

[lmc123]

Is this going to be built in phases or all at once? 

[markhollin]

Site work will begin in April and ground will be broken by summer according to a Cypress Real Estate Advisors spokesperson.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/11/17/cypress-looks-ahead-to-redeveloping-riverchase.html

[Bos2Nash]

This is a phased project. I will see if I can find a phasing document (believe I have seen one)

[WebberThomas4]

They applied for a stormwater permit yesterday.

[markhollin]

Cypress Real Estate Advisors on Monday announced it will be adding 20 more affordable units to the RiverChase apartments property through a partnership with Holladay Ventures, increasing the total number of affordable units to 245.

The Texas-based developer will sell 2.96 acres of the property to Holladay for the construction of 140 units of affordable housing along Joseph Avenue and Berry Street, according to a Cypress news release. The price of the sale was not disclosed. That parcel is part of the larger property upon which Cypress originally planned to build a total of 1,150 residences.

“We are thankful to Nashville city leadership, CREA, and the community for their support in creating more affordable housing options at a time when Nashville’s housing crisis is at its highest,” Evan Holladay, founder and CEO of Holladay Ventures said in the release. “This is a meaningful project for us, in that it will reflect a new way to redevelop existing communities, while prioritizing its former residents and giving them a new, modern space to return and flourish. We are looking forward to creating a new space that will serve as a catalyst for growth in the East Nashville community.”

Holladay will construct 24 units priced at 40% of area median income, 92 units at 60% AMI and 24 units at 80% AMI. The dwellings will be studio, 1-, 2- and 3-bedroom units.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/01/17/crea-holladay-ventures-riverchase-affordable.html


And NashvilleNowNext here:

https://nashvillenownext.com/2023/01/17/crea-selects-local-firm-to-develop-affordable-housing-at-river-chase-in-east-nashville/

[andywildman]

18 hours ago, markhollin said:

Cypress Real Estate Advisors on Monday announced it will be adding 20 more affordable units to the RiverChase apartments property through a partnership with Holladay Ventures, increasing the total number of affordable units to 245.

The Texas-based developer will sell 2.96 acres of the property to Holladay for the construction of 140 units of affordable housing along Joseph Avenue and Berry Street, according to a Cypress news release. The price of the sale was not disclosed. That parcel is part of the larger property upon which Cypress originally planned to build a total of 1,150 residences.

“We are thankful to Nashville city leadership, CREA, and the community for their support in creating more affordable housing options at a time when Nashville’s housing crisis is at its highest,” Evan Holladay, founder and CEO of Holladay Ventures said in the release. “This is a meaningful project for us, in that it will reflect a new way to redevelop existing communities, while prioritizing its former residents and giving them a new, modern space to return and flourish. We are looking forward to creating a new space that will serve as a catalyst for growth in the East Nashville community.”

Holladay will construct 24 units priced at 40% of area median income, 92 units at 60% AMI and 24 units at 80% AMI. The dwellings will be studio, 1-, 2- and 3-bedroom units.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/01/17/crea-holladay-ventures-riverchase-affordable.html


And NashvilleNowNext here:

https://nashvillenownext.com/2023/01/17/crea-selects-local-firm-to-develop-affordable-housing-at-river-chase-in-east-nashville/

In practice, is there different outcomes for low-income residents when affordable housing is built throughout a development instead of off in a corner of the development?

[UTgrad09]

2 hours ago, andywildman said:

In practice, is there different outcomes for low-income residents when affordable housing is built throughout a development instead of off in a corner of the development?

I'm not sure, but IIRC, the reason they are doing it this way is that the company building the affordable housing specializes in that area.  It might not be feasible to spread it throughout the development. 

[markhollin]

The development will now be known as Dickerson & Meridian, and will feature twelve 4-7 story structures.  The residential unit count is still 1,150, with 245 of them being affordable housing. Holladay Ventures as its affordable housing partner in the project.  CREA will sell 2.96 acres of the site to Holladay for the construction of 140 units of affordable housing along Joseph Avenue and Berry Street. The Holladay Ventures parcel will sit within a larger mixed-income, mixed-use development that will include 105 affordable units that will be built by CREA.

More behind The Nashville Post paywall here:

https://www.nashvillepost.com/business/development/east-nashville-mixed-use-project-effort-progresses/article_54a6a982-a963-11ed-bf0c-47d8ff3e3a80.html
 

[chc3]

I drove the length of Dickerson Pike earlier in the week. It’s amazing to see its transformation from a squalor zone to an upmarket residential parkway.

[smeagolsfree]

That will end up being the most transformed corridor in town once it is all said and done. At least the potion from the buffaloes to Trinity. If you take a look at the development map you will see the number of projects planned and you will see the blue along the corridor.

That is not to say other corridors cannot change just as much let's say like Murfreesboro, Nolensville Rd, or Gallatin pike North. Right now, Dickerson has the edge because it was a blank slate and has the catalyst that is Oracle.

Nashville Projects & Development - Google My Maps

 

[MLBrumby]

Coincidentally, the Channel 17 city cam (L&C) is aimed at a portion of Dickerson rn.  Then I look at that perpetual bottleneck of I-24 and SMH.  It's Saturday morning, TDOT!!!! 

[MagicPotato]

14 hours ago, MLBrumby said:

Coincidentally, the Channel 17 city cam (L&C) is aimed at a portion of Dickerson rn.  Then I look at that perpetual bottleneck of I-24 and SMH.  It's Saturday morning, TDOT!!!! 

Blows my mind how that portion of I-24 splits into two lanes... freaking two lanes! 

[BnaBreaker]

8 minutes ago, MagicPotato said:

Blows my mind how that portion of I-24 splits into two lanes... freaking two lanes! 

And also that both the north and south portions are SO far apart... it takes up so much space it's absurd.  I mean I get that the area wasn't as built up when they first constructed it, but what is the point of having a football field wide median like that?  Yet another relic of the sixties. 

[lmc123]

Any word on this?

[Bos2Nash]

I received this email update on June 27th...

Quote

I hope that this e-mail finds you all well and you all have had a great start to the summer. I am reaching out to provide updates on behalf of CREA about Meridan site activity in the coming weeks.

First, fence repair will be ongoing to continue restricting access from the site, and the black screens will be removed to prevent additional graffiti. Second, security towers with cameras, active monitoring, lighting, and audible deterrence methods are being procured by CREA and Hardaway. We will provide additional updates as necessary regarding these steps. Regular ground maintenance will continue.

Regarding onsite activities, exploration and testing scopes should be completed, and minimal activity will occur in the upcoming months. The team is focused on receiving its final site plan permits such that formal construction planning may commence. Thank you all for your ongoing interest and we will continue to keep you all updated. Have a great upcoming holiday weekend!

 

[smeagolsfree]

Final Site Plan on D Tracker this morning.

Application Submittal	7/12/2023
MPC Agenda Date	8/24/2023
Administrative Approval
Case #	2021SP-083-003
Ordinance #	Not applicable for this application type
Previous Ordinance #'s	BL2022-1140
Associated Case #
Associated Bond #
Reviewer	FRONT COUNTER
Application Name	DICKERSON & MERIDIAN
Application Type	Specific Plan (Final Site Plan)
Application Scope	A request for final site plan approval on properties located at 301 North 2nd Street, 651 and 660 Joseph Avenue, approximately 560 feet southwest of the intersection of Berry Street and Meridian Street (14.52 acres), zoned SP, to permit a mixed-use development with multi-family residential uses with a maximum of 1,150 residential units, requested by Barge Cauthen & Associates, applicant; Meridian Land Owner, LLC, owner.
Scanned Application	View Scanned Application
Scanned Plans	View Scanned Plan
Property Address / Location	301 N 2ND ST 37207

[markhollin]

More coverage behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/real-estate-notes-project-eyed-for-east-side-progresses/article_81eb7ece-24d6-11ee-9fa5-7b536f4d9fda.html


Some renderings and diagrams for Phase I:

[markhollin]

Holladay Ventures has paid about $3.36 million for a segment of East Nashville’s former RiverChase property at  651 Joseph Ave. which it plans a January groundbreaking on an affordable housing development.

The seller of the two-parcel 2.96-acres site was an LLC affiliated with Austin-based Cypress Real Estate Advisors. CREA tapped Holladay as its affordable housing partner in the mixed-use, mixed-income project, which offers a working name of Dickerson & Meridian.

Holladay will develop the site — which fronts Joseph Avenue and Berry Street — with 140 units of affordable housing. Holladay is teaming with nonprofit Urban League of Middle Tennessee. According to a release, funding is being provided by Amazon, the Tennessee Housing and Development Agency, the Metro Development and Housing Agency, US Bank, Cedar Rapids Bank and Trust, and the Metro Housing Trust Fund.

The Holladay Ventures parcel will sit within a larger development that will include 105 affordable units to be undertaken by CREA. The 245 affordable units collectively will represent more than 20 percent of the overall residential component of Dickerson & Meridian.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/parcels-at-planned-east-side-project-sell-for-3-36m/article_39d66b06-a5a7-11ee-8354-5383b0f9e5d4.html

Two new renderings for the Holladay portion:

 

[markhollin]

Excavation for northern quadrant underway.

Looking NE from Dickerson Pike, 1/4 block south of Grace St:

Looking SE from Dickerson Pike, 1/4 block south of Grace St:

[markhollin]

Holladay Venture's Park24 portion of Riverchase (4 stories, 140 units)  will break ground soon.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/12/wedgewood-houston-development-soccer-field.html

[markhollin]

Park 24 (4 stories, 140 units on 2.96 acres of the Riverchase development) by Holladay Ventures has broken ground.  More at CityNowNext here:

https://citynownext.com/2024/04/22/holladay-ventures-break-ground-on-affordable-mixed-use-project-in-east-nashville/#more-40408