Downtown Nashville is the hub of the entertainment that defines Music City. Within mere city blocks, visitors can experience world-class art at the Frist Center for Visual Arts, catch a great Broadway play at the amazing Tennessee Performing Arts Center (TPAC), and see world-class concerts and events at the Bridgestone Arena (home of the Nashville Predators) and the new Ascend Amphitheater.
Within walking distance is the legendary Ryman Auditorium regarded as the “Mother Church of Country Music.” The Ryman is a National Historic Landmark renowned for its exceptional acoustics that has hosted musicians from Chris Isaak and James Brown to Patsy Cline and John Legend, as well as current and rising stars of all musical genres.
Tourists flock to lower Broadway to visit the country bars, known as the honky-tonks. Many famous musicians have played and even been discovered at these locations. Some of the more popular live music bars include: Tootsie’s Orchid Lounge, Legend’s Corner, Robert’s Western World, The Stage on Broadway, Paradise Park, Rippy’s and Tin Roof. New to the scene is Acme Feed and Seed, where both hipsters and cowboys unite to eat and listen to great music. We cannot forget to mention, the renovated Merchant’s restaurant, one of the more upscale venues on lower Broadway.
Aside from the night life and great food, downtown Nashville also offers different types of real estate opportunities. The Nashville Downtown Partnership released their annual publication, The Residential Report: July 2015. It had a tremendous amount of data and insight on downtown living and downtown inhabitants. Every year this report confirms that the downtown Nashville area is thriving, that residents want to live downtown, and that there is a shortage of downtown living options. Through this report we gain exciting new insight into the downtown Nashville housing market.
Nashville’s downtown population has grown an astounding 300% from 2000 to 2014. However, Nashville falls behind peer cities such as Austin, Charlotte, Indianapolis, and Memphis in downtown urban residential development. This is mainly due to the lack of residential zoning in the downtown market since the mid-90’s.
There are 2,384 condos in 40 buildings in downtown Nashville. The only new units are in the Twelve|Twelve development in the Gulch that was the first condo project since the Terrazzo condos went for sale in 2009. With supply being so low and demand being high, condo price per square foot has not only recovered but also increased. This year alone, we have seen record-breaking sales prices, particularly in the luxury high-rise developments in the Gulch. Unless some of the new apartment buildings convert to condo, we will not have enough units on the market to fulfill demand. Currently, we only have two downtown Nashville condo projects on the horizon. One is City Lights on Rutledge Hill that will consist of 71 luxury condos and is slated for 2017 completion. The other has not been fully confirmed but will sit at 505 Church Street and contain apartments and condos.
The demand for downtown Nashville real estate does not seem to be slowing down and it will be interesting to see how city officials and developers respond to this need.
In addition to the condominiums at Twelve Twelve and the Terrazzo there are several other downtown Nashville condo buildings offering young professionals, married couples and other urban dwellers a multitude of amenities and living options:
The Viridian – This is where it all began. The Viridian was the first luxury residential condominium project to redefine Nashville’s skyline. The Viridian spurred Nashville’s luxury high-rise movement and established the benchmark for active, metropolitan living. Find Viridian condos for sale.
Icon in the Gulch – ICON, completed in 2008, reflects the city itself: equal parts buzzing metropolis and big, blue sky. With a 22-story tower situated on top of an eight-story mid-rise section, the Icon in the Gulch features fantastic views of the city. Find ICON condos for sale.
Encore – Encore is SoBro’s only residential high-rise, housing 333 luxury condominium homes. The condos at Encore offer panoramic views of the downtown cityscape, the iconic Nashville skyline and the Cumberland River. Find Encore condos for sale.
Rhythm at Music Row – The 14-story Rhythm is located at the end of Music Row and offers great views of Nashville. The Rhythm at Music Row units are mere steps away from the Demonbreun Street restaurants, bars, and shops. Find Rhythm condos for sale.
Are you interested in scheduling a viewing of a downtown Nashville home or condo listed for sale or to learn more about real estate in downtown? If so, contact Gabriela Lira at 615-440-6327 or by email at firstname.lastname@example.org. Gabriela is a professional REALTOR® and a RE/MAX Elite agent who specializes in downtown Nashville real estate.
Downtown Nashville Homes for Sale
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