Wood Partners Ramps Up Nashville Development
NASHVILLE, Tenn. — Wood Partners, a national leader in multifamily real estate and acquisition, has closed on the property at 5800 Centennial Blvd, Nashville, TN in The Nations, where it will deliver Alta Union, a 283-unit, four story, multifamily building highlighted by exciting and original urban design, and connectivity within one of Nashville’s most dynamic neighborhoods.
“We have been very active over the last year, identifying and moving to acquire the premier sites that accommodate Nashville’s growth in order to deliver Wood Partners’ best-in-class product,” said Andrew Steffens, Managing Director of Wood Partners’ Nashville office. “We’re excited to move forward in The Nations, which we think is an ideal urban location given its proximity to downtown and new adaptive reuse commercial developments. We expect Alta Union to deliver a competitive market rent with first class interiors and amenity package. We’re proud to begin construction and introduce Nashville to Wood Partners commitment to create distinctive communities of lasting value.”
The architectural language of the buildings takes its cues from the surrounding industrial context. The front building features a brick base with exposed/expressed structural steel elements, classic in material and scale. A large-scale mural by a renowned artist celebrating the The Nations will further serve to make Alta Union an easily identifiable and unforgettable addition to the neighborhood.
Amenities will include The Nations’ largest dog park, 7,500 square feet of interior amenities, a 6,500 square foot pool courtyard, 1,600 square feet of rooftop terraces overlooking Centennial Blvd which includes a fire pit and outdoor entertaining area.
This will be the first Wood Partners project delivered to the Nashville market with units available by Summer 2021. Last year, Andrew Steffens was hired as Managing Director to launch Wood Partners’ Nashville office. Prior to joining Wood Partners, Steffens spent seven years with two other reputable developers where he executed over $350 million of development in the Nashville area.
In addition, Steffens added Morgan Stengel to the Wood Partners team as Vice President. Stengel is well known in the Nashville community having worked for Giarratana, LLC and acting as project manager for 505 in downtown. Now, the duo, spearheading Wood Partners’ local presence, currently has five projects in various stages of the pipeline in the Nashville area.
“Morgan and I have deep knowledge of this market and a proven ability to execute diversified institutional projects of any scale,” added Steffens. “We’re just getting started and are committed to developing the best products in the best submarkets of Nashville. We are local and focused on developing in a way that seamlessly weaves our communities into the fabric of Nashville’s awesome neighborhoods.”