From: The Nashville Business Journal
Next week, a Houston architect will pitch his new plan for City Lights, a luxury condo building on the southern outskirts of downtown Nashville.
City Lights, as we've reported, now entails more than 70 condos and space for a high-end restaurant. The site is in Rutledge Hill, behind the coffee shop Crema and nearby Nashville's trolley barns and the restaurant Husk.
The Nashville Post reports that the Metropolitan Development and Housing Agency is set to review the latest plans for City Lights at an April 7 meeting.
Various developers have pursued the site over at least the past few years. Initially, their target was apartments. The shift to condos reflects the increasing perception among developers, and a slowly growing number of bankers, that demand for high-end condos is outstripping Nashville's supply.
This is as close as anyone's been to making something materialize at the site.
In January, an investor group led by Don Meeks paid $3.95 million for 0.84 acres, at the address of 20 Rutledge St.
Meeks is CEO of Houston architectural firm Meeks + Partners. Other investors include Joe Owen, the CEO of Brentwood-based Guardian Healthcare.
Meeks has not yet secured a construction loan that would enable City Lights to be built.
Last fall, Meeks pitched an 11-story building of 260 apartments. Metro code allows no more than seven stories at this location, and MDHA declined to grant any additional stories to Meeks.
