TC Investments and a group of investors are moving ahead with an office-to-hotel conversion in Nashville, following their recent acquisition of the Philips Plaza office tower. According to reporting cited from the Nashville Business Journal, the investor group paid $29 million for the 21-story building and intends to redevelop the former office property into a hospitality asset.
The planned project would reposition Philips Plaza into a 360-room hotel, marking a significant shift in use for the high-rise. While the specific hotel brand has not yet been selected, the group has outlined a program that includes multiple restaurant offerings and entertainment-focused concepts, signaling a mixed-use hospitality approach within the existing tower structure.
The hotel opening is targeted for spring 2028, giving the development team roughly a multi-year window to complete design, approvals, and construction activities associated with the adaptive reuse. Barnett Design Studio has been engaged as the architect for the project, taking on the redesign of the 21-story office building into a modern hotel environment.
The Philips Plaza initiative is part of a broader trend of office-to-hotel conversions gaining momentum in Nashville. The article notes that nearly 2 million square feet of office space in the city is either planned or already in process to be converted into hotel use. This reflects a meaningful pipeline of adaptive reuse activity as owners and investors re-evaluate the highest and best use of existing office buildings.
Other prominent examples in the same market include Pivot Real Estate Partners, which acquired downtown’s Fifth Third Center in August for $55.25 million and is planning to convert the large office tower into nearly 500 hotel rooms. In addition, Dolly Parton’s SongTeller Hotel, identified as one of the first large-scale office-to-hotel conversions in Nashville, opened last month, demonstrating that some of these projects are already reaching completion and entering operation.
Taken together, the Philips Plaza conversion, the Fifth Third Center plan, and the recent debut of the SongTeller Hotel underscore how quickly office-to-hotel projects have scaled in Nashville. The cluster of activity suggests a structural shift in how select office assets in the city are being repositioned toward hospitality, particularly in and around the downtown core.
