DAC Developments has acquired a development site in Nashville, paying $22 million for nearly an acre at 319 Peabody St. The firm envisions the property as the future home of a 53-story mixed-use hotel and condominium tower. According to reporting from the Nashville Business Journal referenced in the original coverage, the proposed tower would be the tallest building in Nashville if completed as planned.
The project concept calls for a substantial high-rise program anchored by hospitality and for-sale residential uses. Current plans outline a $460 million development that would include 104 condominium units alongside 405 hotel rooms, positioning the tower as a significant addition to the city's skyline and lodging inventory. The proposal also incorporates nearly 11,000 square feet of retail space, which would activate the street level and provide additional amenities for building users and the surrounding area.
Parking and support functions are integral to the design. The development is slated to feature approximately 400 parking spaces, helping to accommodate both hotel guests and condo residents. Plans also call for a five-level podium structure that would house event and meeting space along with a range of hotel and condominium amenities. These elements are intended to support both the hospitality and residential components of the project, creating a vertically integrated mixed-use environment on the Peabody Street site.
The planned tower is part of a broader wave of hotel and condo projects reshaping Nashville's urban core. SomeraRoad is currently under construction on Pendry Residences Nashville, adding another branded hospitality and residential offering to the market. In addition, the Nashville Edition hotel and condo project recently broke ground in the Gulch, further reinforcing the city's appeal for upscale, mixed-use developments.
Elsewhere in the city, Vastland Co. has secured a $130 million construction loan for the Voce tower in Midtown, underscoring ongoing lender interest in large-scale urban projects. Beyond schemes already under construction, Nashville's pipeline includes several other hotel and condominium developments tied to major luxury brands, with new Ritz-Carlton, Nobu, Equinox Hotel, and St. Regis projects among those mentioned as being in various stages of planning. Collectively, these initiatives highlight the continued momentum in Nashville's hospitality and high-end residential sectors, with DAC Developments' Peabody Street acquisition representing another sizable commitment to that growth trajectory.
