Mixed-use developments are becoming more and more popular throughout the United States, especially in neighborhoods immediately outside of professional sports stadiums. Anschultz Entertainment Group (AEG) and Southwest Value Partners are teaming up to bring a new mixed-use neighborhood to downtown Nashville, Tennessee. The 15-acre development will be called the “Nashville Yards” and will be located on 10th avenue between Commerce and Church streets.
Establishments that will be built at the Nashville Yards include
- A music venue with a capacity of 4,000 seats.
- A movie theatre operated by Regal Cinemas.
- An entertainment club with a capacity of 600-700 people.
- A small boutique hotel.
- Several other bars and restaurants to be named later.
Aside from AEG and Southwest Value Partner’s contributions to the Nashville Yards, a Hyatt Regency hotel with nearly 600 rooms will also be built. The Hyatt Regency will become the third largest hotel in Nashville and is expected to open in 2020. Lincoln Property Company will also help build the office and retail complexes. Construction costs for the Nashville Yards project are expected to exceed $1B and will generate millions of additional dollars in economic impact after construction is completed. Nashville Yards will be built on the former site of the Lifeway Christian Resources campus. Lifeway Christian Resources relocated to the nearby Capital View area of downtown Nashville.
The Nashville Yards will be within walking distance of some of downtown Nashville’s most popular attractions including the Country Music Hall of Fame, Bridgestone Arena, the Gulch, the Ryman Auditorium and the bars on Broadway. Although Nashville, Tennessee has experienced a lot of population growth, those numbers appear to be slowing down. The culprit? Likely a combination of an improving economy following nationwide tax reform and an already expensive housing and rental market.
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