**Construction Set to Begin on Tennessee’s Tallest Tower**
Construction on what will become Tennessee’s tallest tower is slated to begin next month in downtown Nashville.
Developer Sam Giarratana has secured a $340 million construction loan for Paramount, a 60-story residential skyscraper planned for 1010 Church Street. The total development cost is projected at $460 million. Giarratana raised $120 million in equity from a group of 76 investors to support the project.
The construction loan was provided by Benefit Street Partners, a New York-based firm. Brasfield & Gorrie has been tapped to manage construction of the mixed-use tower.
Once complete, Paramount will rise to a height of 750 feet, making it the tallest building in Music City. The project will feature 360 apartment units, 140 condominiums, and 517 parking spaces. Construction is expected to take just over two and a half years.
Giarratana is already known as one of the most prolific developers of downtown residential buildings in Nashville, with Paramount representing his most ambitious undertaking to date.
