Project to Create 475 New Parking Spaces in Downtown Nashville in 2013
NASHVILLE, Tenn.--(BUSINESS WIRE)-- Excavation for the much anticipated six-level garage has begun at Nashville City Center, Parmenter Realty Partners’ 27 story office tower at 511 Union Street in downtown Nashville. The six levels will provide 475 new parking spaces and will include five levels of below-ground parking and an additional surface lot for Parmenter’s Nashville City Center (NCC) tenants, their visitors, and the general public. The project is on schedule to be completed by the end of next year.
Rendering of Parmenter's Nashville City Center parking garage project, now in progress. (Photo: Business Wire)
“Nashville’s downtown doesn’t have enough parking to support the existing commuters,” said Richard Fletcher of Parmenter Realty Partners. “The garage has been designed to not only provide our tenants the convenience that comes with this added amenity but also with structural forethought so that in the future the garage is capable of supporting another five levels of parking and another 20 levels of office space. We’re thinking about the long-term market potential for the property and this is our latest step in keeping Nashville City Center’s place among the top buildings downtown.”
Gresham, Smith and Partners (GS&P), designers of the garage and the architect of record for Nashville City Center, and Parmenter have selected general contractor R.C. Mathews to aid in the undertaking of the project. GS&P’s senior vice president Steve Johnson commented on the construction plans.
“We are working with general contractor R.C. Mathews to sequence the construction in a way that excavation and construction will be as minimally intrusive as possible for those with businesses in operation around the site,” said Johnson. “Once complete, the garage will certainly be an added benefit to not only the NCC but other buildings within the area.”
Construction and permanent financing has been provided by American National Insurance Company (Anico) through correspondent Gary Dunkum of Grandbridge Real Estate Capital.
Gresham, Smith and Partners provides design and consulting solutions for the built environment that contribute to the success of national and international clients. For more than 45 years, GS&P has focused on enhancing quality of life and sustainability within our communities. GS&P consistently ranks among the top architecture and engineering firms in the world.
Parmenter Realty Partners is a real estate investment, management and development company that operates a series of institutional investment funds focused on the Southern Tier of the US. Headquartered in South Florida, Parmenter also operates regional offices in Dallas and Atlanta. Parmenter’s investment strategy utilizes its vertically-integrated platform to increase value on behalf of its investors.
If you’d like more information about this topic, or to schedule an interview on the topic with a Parmenter representative, please call Ashley-Renée Honnold at 305/960-2117 or e-mail Ashley-Renée at MediaRelations@parmco.com.
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Parmenter Realty Partners