Thousands of residences, hotel rooms coming to Downtown Nashville as population swells
NASHVILLE, Tenn.--A new report from the Downtown Nashville Partnership projects the downtown area to reach 13,000 residents by the end of the year with at least another 7,000 by 2022.
The Nashville Downtown Partnership (NDP) is comprised of board members representing First Tennessee Bank, the Nashville Predators & Bridgestone Arena, the Tennessee Titans, Pinacle Finanacial, Bridgestone Americas, Warner Music Group, Ingram Industries, and many others.
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The NDP's purpose is to focus on recruiting businesses, development of retail and residential spaces, transportation, communications, and marketing. According to the NDP's Market Conditions report for the 3rd quarter of 2019 (July-September), its not just the population growing.
According to the report, there is over 2 million square feet of office space under construction with another 2 million planned. Of the projects planned, the largest of these will be located at 1001 Church Street, slated to add 1 million SF by first quarter 2024.
With 15.2 million out-of-town visitors recorded in 2018, hotel space is also swelling. With 8,389 rooms currently available, there are another 3,640 under construction and 3,418 planned for construction.
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For those looking to move into the downtown area, there are 2,691 residential units under construction. These development are led by the Fifth + Broadway development which will bring 380 units next year. Four more developments are planned for SoBro, two in the Gulch, one in the North Capitol, and another in the North Gulch.
In addition to these developments under construction, nine more projects have been planned that could add another 2,195 by 2023. One notable development expected to go into construction this month is a 7,000 square foot dog park in The Gulch, west of the Turnip Truck fare at 1218 Pine Street.
According to the 2018 Downtown Nashville Business Census, these residents and visitors will be joined by as many as 95,000 employees expected to be working downtown by 2022/2023.