21c Museum Hotels has paid $6.8 million for an office building at 222 Third Avenue North in Nashville.
21c Museum Hotels has paid $6.8 million for an office building at 222 Third Avenue North in Nashville.
It bought the 1890s building from the local government through its online eBid auction system, and will renovate and convert it in to a luxury hotel with art exhibition space. Its most recent tenant was local government’s human resources department, but it was originally the the home of Gray & Dudley Hardware Co.
The building is on the National Register of Historic Places, and renovation plans will have to maintain the original exterior architecture character, because it’s also within the Second Avenue Historic Preservation Overlay District.
21c Museum Hotels president Craig Greenberg said: “We’re very excited to have won the auction, and now the hard work begins.”
Jan D. Freitag, analyst with STR Global said: “It’s another indicator of Nashville having a more independent vibe. Just like was established by the Hutton Hotel and the Virgin Hotel announcement, this is another indicator that Music City caters to all tastes, and hoteliers are capitalising on that trend.”
www.21cmuseumhotels.com
