NASHVILLE, Tenn. – With 148,750 tons of rock now removed from the site, GBT Realty Corporation, a leading national commercial development and investment company headquartered in Brentwood, Tenn., is moving forward with the next stage of construction for Parke West. Plans for this mixed-use project, located near Nashville’s West End neighborhood, include a hotel, a residential community, restaurants and retail. With the rise of Parke West, the real estate firm now has two mixed-use projects totaling nearly one million sq.ft. under construction that are changing the shape of Nashville’s skylines and continuing the company’s successful trend of delivering quality developments at key locations throughout the market.
Currently underway is the vertical construction of towers that will house the hotel and residential components of Parke West. A 450-space underground parking structure that will serve both towers is nearing completion.
“We are excited to see this project come to life and deliver on the infrastructure improvements we promised during the rezoning process,” says Fiona Haulter, vice president development, GBT Realty. “As the construction rises above ground for both towers, we shift our sights to leasing and seeking a dynamic mix of tenants for the ground-level retail and restaurant space that will be complemented by the enhanced courtyard between the towers.”
Developed, owned and managed by Nashville-based Chartwell Hospitality, the nine-story hotel is a dual-branded Hilton Garden Inn and Home2 Suites by Hilton. The hotels feature a shared lobby and amenities, including a lobby bar and restaurant, an upscale fitness center, a roof-top pool deck and approximately 4,000 sq. ft. of flexible meeting space. Of the 172 rooms, 69 will operate as Home2 Suites, while the remaining 103 rooms are designated Hilton Garden Inn. This project represents Chartwell Hospitality’s 13th hotel concept to open in the Nashville market since 2007.
Plans for the 15-story, multi-family tower include 210 homes that are designed to appeal to a more mature and settled resident. Larger one- and two–bedroom footprints along with premium amenities, such as a 12th-floor outdoor swimming pool and deck, dog spa, 24-hour concierge and unobstructed views of the west side make this a welcomed and unique addition to the West End rental community. The residential building also benefits from ample outdoor space aimed at encouraging connectivity and outdoor socializing between neighbors.
Both Parke West’s hotel and residential towers are expected to top-out early 2022 with the completion of the project slated for fall 2022. The hotels are also expected to welcome their first guests at that time.
“We expect Parke West to become a community amenity as well as a comfortable home for residents and hotel guests,” continues Haulter. Between the two towers, a lush courtyard featuring open-air, landscaped terraces brings additional greenspace to this neighborhood. Further, an entry point to the adjacent greenway popular with pedestrians and cyclists alike, offers accessibility to the new, additional commercial amenities. Approximately 11,000 sq. ft. of commercial space will house restaurants with outdoor seating, service providers, boutique retail and other businesses.
With Nashville’s COVID-19 capacity restrictions and mask mandate now lifted, Nashville is poised for pandemic recovery. More than 30 percent of Tennesseans are fully vaccinated, and the percentage continues to grow. “As the city returns to normal, our Parke West project is uniquely positioned to be part of Nashville’s recovery efforts as growth resumes its pre-pandemic, upward track,” states Haulter. In the past decade, the city’s population has increased 11 percent, and pre-pandemic tourism peaked in 2019 with more than 16 million annual visitors spending $7.52 billion.