May 11, 2017
by Getahn Ward
With its Two Greenway Centre office building in Cool Springs about 40 percent leased, Charlotte, N.C.-based Crescent Communities has a new mixed-use project on the drawing board for 23.6 nearby acres.
The developer is planning apartment, office and retail uses for that property at the northwest corner of Carothers Parkway and McEwen Drive. In March, Franklin’s Board of Mayor & Aldermen approved a related zoning change from general commercial district to specific development-variety district zoning.
Brian Leary, president of Crescent Communities’ commercial/mixed-use division, expects the project to be special and complementary to what he said are “all of the great things going on in Franklin.” “This is the culmination of years of working, planning and collaborating with the City of Franklin to ensure this tremendous location is developed in a way that will benefit and enhance the community,” Leary added.
Under the City of Franklin’s zoning code, the height overlay allows for buildings in that Interstate 65 corridor to rise up to 10 stories. Crescent’s tentative plans for the site include a 250,000 to 300,000 square foot office building, which Franklin-based commercial real estate agency Foundry Commercial is marketing on its website as Resource Center at Cool Springs with built-to-suit tenants as the target.
In addition to being near the five -story, 155,000 square foot Two Greenway Centre office building, the 23.6-acre sire is adjacent to Venue at Cool Spring and Cadence Cool Springs apartments. It remains to be seen whether Crescent could move forward with construction on the site without tenants in hand.
Elsewhere in Nashville, Crescent is developing a 335-unit apartment project as part of redevelopment of the Bellevue Center mall property in Bellevue. In Franklin, the developer and Pearl Street Partners are building the Lockwood Glen master-planned community that will include 239 residential units.