US: Kentucky-based investment partnership Barkley Lake Inn has paid $5.9 million for properties on Lower Broadway in Nashville.
US: Kentucky-based investment partnership Barkley Lake Inn has paid $5.9 million for properties on Lower Broadway in Nashville.
It plans to build a 110-room boutique hotel and three restaurants, after searching for a downtown site for the last four years. It bought the properties from Mayesco LLC. They have been vacant since records storage company Richard & Richards moved out three years ago.
The planned hotel will occupy the upper floors of both buildings with an entrance on Third Avenue South. An upscale restaurant with indoor and outdoor space is planned for the rooftop of the building at 215 Broadway. Another full-service restaurant will occupy space on the ground floor of that building and a coffee/sandwich shop will be in the hotel’s lobby.
Nashville is set for a flurry of boutique and lifestyle hotel development with projects announced recently by Thompson, Kimpton, 21c Museum Hotels, Virgin Hotels, and an investment partnership that includes Royal Investments owner Alex Marks, which is planning a Printers Alley property.
