The site of a multi-million dollar development in Bellevue has been bought by a new owner, but the project will still be completed as planned.
Atlanta based Branch Properties LLC, and Crosland Southeast of Charlotte, N.C., paid $15.75 million for the site that will be transformed into One Bellevue Place. District 22 Council Member Sheri Weiner said the deal means there is an additional investor for the project, but the plans will not change.
“Nothing has changed other than we have a new team member which is wonderful,” said Weiner. “They see the value in our community and know what this will do to transform Bellevue.”
The $200 million One Bellevue Place will feature a Carmike movie theater, Sprouts Farmers Market, hotel, other restaurants and retailers, and a 337 unit apartment community. Council Member Weiner said the state-of-the-art project will energize the entire area.
Weiner said she received multiple calls, emails and texts from residents who were concerned about the future of the development. She said people have waited a long time for this project, and she wants residents to know it is still on schedule.
“I feel like we did what we set out to do,” said Weiner. “We want to put this community on the path that it should be on.”
“One Bellevue Place will be one of the region’s largest redevelopment projects completed in greater Nashville in nearly 15 years. A project of this size and quality will be a catalyst for additional growth, which is exciting for the future of the Bellevue Community and the reason we continue to invest in the greater Nashville Market,” said Nick Telesca, President of Branch Properties, LLC, in a statement.
Right now demolition of the old Bellevue Center Mall is complete, and cleanup is underway. Construction is set to begin this Fall, and be completed in the Fall of 2017.
One Bellevue Place is Branch Properties' second major Nashville area project during the past year. The company is currently building a 139,969 square foot retail center anchored by The Fresh Market and Marshalls in Hendersonville.