The mixed-use project planned for the 900 block of Dickerson Pike will no longer include townhomes, but nearly twice as many residential units and more commercial space.
On Tuesday, developer Strategic Options International LLC is to present revised plans to the Metro Development and Housing Agency’s design review committee that calls for 95 condo flats. The height of the building has also been raised from three to four stories.
Five months ago, the committee gave conceptual approval to a three-story project called The 900, which included 22 townhomes and 28 condo flats.
That approved plan also had included 1,600 square feet of commercial space on the first floor at the corner of Cleveland Street and Dickerson Pike, which has been increased to 2,500 square feet.
“We made the change because the market conditions are such that we wanted to increase the density and provide units at a price point that’s reasonably affordable,” said Myron Dowell, managing partner with development company Strategic Options International. “We wanted to come in at a price point that the market is dictating.”
Prices of the studios, one and two bedroom condo flats will range between $165,000 and $320,000, down from the more than $400,000 average price originally targeted for the 22 townhomes. The condo flats will range in size from 575 to 1,225 square feet.
A 6,000 square foot rooftop terrace with views of downtown has also been added to design of The 900 project, which is planned for 1.93 acres that includes 900 Dickerson Pike. It would include 2,500 square feet of enclosed space for events and parties.
With required approvals, Dowell hopes to start construction on the roughly $15 million project in the first quarter of next year. He said the financing is 90 percent completed.
At the same time The 900 is being built, a partnership of Strategic Options and Nashville property management firm Synergy Real Estate Group’s CEO Brian Krebs plans to build a four-story, 60,000-square-foot mixed-used project with 67 condo flats and 3,000 square feet of commercial space on 1.62 acres in the 800 block of Dickerson Pike.
That footprint includes the former Mrs. Winner’s location at 829 Dickerson along with the 835, 837 and 839 Dickerson sites of a liquor store, drive-in market and a vacant warehouse.
This story has a correction: Strategic Options International LLC will present revised plans to the Metro Development and Housing Agency’s design review committee on Tuesday.
Read the original article here.