Multifamily Developer Expands Nashville presence with second major project in 2021
NASHVILLE, TENNESSEE (Nov. 02, 2021) – RangeWater Real Estate has purchased a 2.69-acre property in Marathon Village, a neighborhood not far from the Gulch in downtown Nashville undergoing a renaissance with the rebirth of the Marathon Motor Works building and infusion of new businesses, artists and residents.
RangeWater plans to do a ground-up development with 320 residences, a mix of studio-, 1-bedroom and 2-bedroom apartments.
This development is RangeWater’s third in Nashville and second announced in 2021. In September, the company closed on the land for River North, a 353-unit apartment community in the newly reimagined River North Development District, a former industrial area undergoing revitalization under the City of Nashville’s new master plan.
“Nashville is one of the most exciting and fastest growing cities in the South,” said Steven Shores, President & CEO of RangeWater. “The demand for housing continues to increase and our development team is meeting that need by way of thoughtfully designed multifamily communities in great neighborhoods like Marathon Village.”
The property is at 806 16th Avenue, near Marathon Music Works, the headquarters for American Pickers and Nelson’s Green Brier Distillery. Nearby are Watkins Park and Foundry Events, plus new restaurants and antique shops.
“We’re excited to be a part of the Marathon Village renaissance,” added Palmer McArthur, managing director for the Carolinas and Tennessee at RangeWater Real Estate. “Our residents here will love the attention to detail we’re putting into the amenities, from the podcast lounge and flexible work spaces to the pool deck and yoga lawn, not to mention the luxury finishes in the units.”
Groundbreaking is scheduled to begin in November with first residents taking occupancy in Summer 2023.
About RangeWater Real Estate
RangeWater is a fully integrated multifamily real estate company creating fulfilling experiences for its partners, clients, residents and employees across the Sun Belt. The Atlanta-based company has acquired and developed more than 30,000 multifamily units since its inception in 2006 representing in excess of $5.4 billion in total capitalization. RangeWater currently manages a balanced portfolio of over 68,000 multifamily units across 11 states. With offices in Atlanta, Dallas, Denver, Tampa and Salt Lake City, RangeWater targets high job growth markets with demand for new housing. For more information, visit www.LiveRangeWater.com.