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Footprint includes Regions Bank branch, former fabric store
The developer of The Melrose mixed-use development in Berry Hill is gearing up to build a second phase that's expected to include 139 new apartment units and 8,500 square feet of retail space.
The Parkes Cos. Inc., which along with Fulcher Investment Properties redeveloped the historic Melrose Theatre into apartments and retail space, looks to build that next mixed-use phase on 1.2 adjacent acres.
That targeted site at the southeast corner of Franklin Pike and Kirkwood Avenue includes where a Regions Bank branch sits at 2610 Franklin Pike plus the former fabric store location at 2608 Franklin Pike.
Earlier this month, the Berry Hill Board of Zoning Appeals approved Parkes' request for a trailer near the south end of the existing Melrose apartment building, which would be temporary home for the Regions Bank branch. Regions Bank would move back into a portion of the new mixed-use building, which is being designed by Humphreys & Partners Architects LP.
The second-phase planning comes as Parkes and Fulcher Investment are nearing a contract to sell the existing Melrose development, which includes 220 apartment units and retail/restaurant space. Commercial tenants include The Sutler and Sinema restaurants and modern diner Fenwick's 300.
The Melrose's parking lot spaces where the Regions Bank trailer will sit and those that run along the alley will be lost during construction of the second phase.
An affiliate of Franklin-based Parkes has a contract to buy the 0.60-acre site at 2610 Franklin Pike that's within footprint of The Melrose's second phase. Regions Bank is the listed owner of that parcel, which includes the 11,318-square-foot branch that will be demolished to make way for the project.
"We're very excited about what our new branch will bring to our customers and the neighborhood and pleased to be working with Parkes on this," said Jim Schmitz, Regions Bank's Middle Tennessee area president.
The same Parkes affiliate already owns the 0.60-acre parcel at 2608 Franklin Pike, which includes a vacant 10,329-square-foot general retail store building.