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16th & McGavock
Vela Pie Town
Aspire Midtown
Cincinnati-based real estate company Al. Neyer and The Dinerstein Companies of Houston have landed an approximately $61 million loan that will allow for the construction of 14-story apartment building Aspire Midtown.
According to a Davidson County Register of Deeds document, J.P. Morgan Chase Bank provided the loan.
Aspire Midtown
In May 2022, the two companies paid $8.99 million for the various properties on which Aspire Midtown will rise (read here). The 1.14-acre site offers a main address of 1801 Patterson St.
Atlanta-based Niles Bolton is the architect for the project, a groundbreaking for which previously was eyed for summer 2022.
Dinerstein will serve as property manager of the project, while Al. Neyer will serve as design-builder.
Al. Neyer owns multiple properties in the local market and has undertaken various office, industrial, medical office and residential projects in Kentucky, Ohio and Pennsylvania. It bills itself as design-build-develop company.
Dinerstein owns the bulk of Velocity in The Gulch and Aspire on Division Street, also located in The Gulch, among other local buildings.
The Metro Planning Commission is slated to vote Thursday on two high-profile projects — one planned for Midtown and the other for Pie Town.
Vela Pie Town
MPC will vote on specific plan (SP) rezoning requests related to a 32-floor mixed-use tower (Vela Pie Town is the working moniker but no name has been finalized) proposed to rise at 601 Lafayette St. and offer 411 apartment units, 373 parking garage spaces and 5,715 square feet of ground-level retail. The 1.06-acre property is located near City Winery, the Nashville Union Rescue Mission and Holy Trinity Church, among other area landmarks.
An LLC affiliated with Stamford, Connecticut-based development company Post Road Group paid $19 million for the property in May 2022. Post Road Group will have Kansas City-based VeLa Development, with which it is associated, develop the site.
Read more here.
16th & McGavock
Similarly, the commission will vote on an SP for 16th & McGavock, a 29-story tower eyed for a four-parcel 1.17-acre Midtown site that is home to DeSano Pizzeria Napolatana.
Minnesota-based Roers Companies is proposing the project and has enlisted Nashville-based Hastings for architectural duties. The local office of Raleigh-based Kimley Horn is the engineer and land-planner.
Read more here.
The evolution of my position with the Post dates to 2000, when I began work with The City Paper. In 2008, SouthComm Inc. bought the Post and TCP, with the latter ceasing operations in 2013. In 2018, FW Publishing acquired the Post, for which I have served as managing editor since 2011.
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