AGB Real Estate specializes in revitalizing dilapidated hotels and transforming them into functional, cost-effective housing developments. Recently, the company acquired the HomeTown Studios hotel located at 1210 Murfreesboro Pike in Nashville for $9.5 million with plans to convert it into a permanent supportive housing project consisting of 117 units.
According to reports from the Nashville Business Journal, AGB anticipates completing renovations within six months and welcoming residents by September. This will be their third successful project of its kind following Hermitage Studios, a workforce and attainable housing development with 108 units that opened in May 2023, and Wallace Studios, a permanent supportive housing project featuring 132 units that opened in April.
On their website, AGB highlights their ability to swiftly adapt by repurposing underutilized assets such as hotels,motels,and senior living facilities.This allows them to bring new affordable housing options onto the market within just twelve months,in response to growing demand for these types of properties.
