NASHVILLE, Tenn. – The Metropolitan Development and Housing Agency unanimously approved the new 222 Tower Tuesday morning.
They announced that by 2017, the parking lot across the street from Ascend Amphitheater would be replaced by the Tower, adding to Nashville's changing sky line.
"This is going to be the new postcard shot for downtown Nashville so we were really cognoscente in how we addressed the street and how the tower looked like, how it addressed the park," C. B. Ragland Company Developer, Michael Hayes said.
A Houston based company teamed up with the local development company to build what will become Nashville's next high-end office space tower, standing 25 stories tall and boosting more than 300,000 square feet of office space.
"I would say this is probably one of the more challenging sites that I ever worked on," Hayes said.
The building's design was unanimously approved to be built in a district zoned for re-development. "All permitting will have to come through and be approved by MDHA," said Cain.
"This is the busiest time, I think, without question in Nashville's history," Joe Cain, Director of Urban Development with MDHA said.
Developers expected the building to go up in 20 months and it was not all office space. The bottom level was set to house retail and restaurant space.
"We're not excavating six levels down, we're not going to be blasting rock. This building will begin to rise very, very quickly," Hayes said.
In a city where new condo buildings are in abundance, the 222 Tower was expected to house Nashville's newest, high quality and expensive office space. Leasers can expect to play close to $40 per square foot.
"It’s been a very long term vision and to be able to see this come to reality next month, I'm excited, my partners are excited. We think the time is right for the product," said Hayes.
Plans were being made for a ground breaking ceremony in October.
A larger office building was going up on Charlotte Avenue but would exclusively house HCA Holdings Inc. The only company that had signed a lease at the 222 Tower was Gresham Smith and Partners, they'll move in the second quarter of 2017 when the building is completed.
