Southwest Value Partners plans to buy Union Station Hotel

union station
Posted at 4:54 PM, Jun 11, 2020
and last updated 2020-06-11 17:54:48-04

NASHVILLE, Tenn. (WTVF) — The owners of Nashville Yards in downtown has agreed to buy the historic Union Station Hotel just across the street.

Nashville Yards is a large development at Church Street and 10th Avenue North that will house Amazon’s Center of Excellence and a 1.3-acre public park as well as a 25-floor Grand Hyatt Hotel. Before the COVID-19 pandemic hit Nashville, it was expected to open this fall.

Southwest Value Partners, the owner and developer of the 17-acre project, announced Thursday it has entered into an agreement to purchase the historic Union Station Hotel on Broadway.

“The Union Station Hotel is one of Nashville’s most recognizable structures, and we are pleased to enter into an agreement to purchase this iconic property,” said Cary Mack and Mark Schlossberg, co-managing partners of Southwest Value Partners, in a joint statement. “The Union Station building has shaped the Music City skyline for 120 years and, with its storied history as a railroad terminal that moved hundreds of thousands of travelers through the city, we believe the hotel is a natural and exciting hospitality addition to the broader Nashville Yards vision and master plan.”

Dimension Development is the company that will manage the hotel.

“We have ambitious plans to continue to improve the hotel while carefully preserving its historic character and charm. We remain excited about the progress and development underway in Music City and know the future remains very bright for Nashville," said Sam Friedman, Chief Executive Officer of Dimension Development.

Union Station was built in 1900 and originally served as the city’s central train terminal for the Louisville & Nashville Railroad.

The terminal closed in 1979 and the building was reopened as a hotel in 1986. The 125-room hotel became a member of the Historic Hotels of America in 2015 and experienced a comprehensive renovation in 2016.