DAC Developments has acquired nearly an acre of land at 319 Peabody St. in Nashville for $22 million, with plans to pursue a high-rise hospitality and residential project on the site. According to reporting referenced from the Nashville Business Journal, the developer envisions a 53-story tower that, if completed as described, would be the tallest building in Nashville.
The planned mixed-use project carries an estimated development cost of $460 million and is programmed to combine for-sale residential units with hotel accommodations and ground-floor retail. Current plans call for 104 condominiums and 405 hotel rooms, positioning the tower as a large-scale addition to the city’s hospitality and residential inventory.
Retail has been incorporated into the design, with nearly 11,000 square feet of space proposed for street-level or podium-level tenants. The program also includes structured parking, with approximately 400 parking spaces planned to support residents, hotel guests and retail users. A five-level podium is expected to house event and meeting space as well as shared amenity areas.
In addition to the amenities located in the podium, the project is slated to feature hotel and condo amenities integrated throughout the tower. While specific features have not been disclosed, the developer’s concept emphasizes a mix of hospitality, residential and retail uses in a vertically integrated format.
The Peabody Street site is one of several locations in Nashville where large-scale hotel and condominium projects are moving forward. The article notes that DAC Developments’ initiative follows a series of similar efforts, including SomeraRoad’s Pendry Residences Nashville, which is currently under construction. Another hotel-and-condo project, the Nashville Edition, recently broke ground in the Gulch neighborhood.
In Midtown, Vastland Co. has secured a $130 million construction loan for its Voce tower, adding to the city’s active development pipeline. Beyond projects already underway or financed, several additional hotel and condo developments are reported to be in various stages of planning, including new properties flagged as Ritz-Carlton, Nobu, Equinox Hotel and St. Regis.
Taken together, these projects underscore a significant wave of mixed-use hospitality and residential development in Nashville, with DAC Developments’ proposed 53-story tower representing one of the more prominent planned additions to the skyline. However, detailed information on the project’s financing structure, delivery timeline and branding has not yet been disclosed.
