By Adam Sichko – Senior Reporter, Nashville Business Journal
May 6, 2016, 1:40pm
Construction starts this month on the first piece of the $200 million mixed-use development planned for the former home of the Bellevue Center mall.
Crescent Communities, of Charlotte, N.C., is creating a 337-unit apartment community where as many as 550 people or so could live (as seen in this new rendering). The collection of two- and three-story buildings will be located at the northeast corner of the 87-acre property that the mall used to occupy off Interstate 40, 14 miles southwest of Nashville.
One Bellevue Place, as the mixed-use development is named, is fully financed and spearheaded by Charlotte-based Crosland Southeast and equity partner Branch Properties. Crescent paid $6.74 million for its piece of the property earlier this year. Bellevue adds to a growing roster of active projects for the company in the region, including an office building in Cool Springs, a Midtown apartment complex and a $100 million-plus, 35-story tower in SoBro.
The former mall closed almost eight years ago and had been an eyesore in Bellevue until it was demolished last fall. The suburb, which is commonly known as the place where many people rented their first apartment in Nashville, hasn’t seen development on the scale of One Bellevue Place in many years. Announced tenants include a Sprouts Farmers Market grocery store and a Carmike movie theater, which are part of the project’s 350,000 square feet of retail and restaurants. A 111-room Home2 Suites hotel also is committed to the project.
Crosland Southeast also is attempting to attract office tenants, proposing 350,000 square feet of office space for a bedroom community that has no track record of attracting any sizable companies.
The project stands as one of the largest on our Crane Watch development map ringing the city core, a signal that Nashville’s “It City” boom may be starting to ripple to other outlying communities.