Proffitt Dixon Partners to Develop 249-unit Fountains at Germantown

By Eliza Theiss, Associate Editor

Fountains at Mooresville Town Square

Charlotte, N.C-based Proffitt Dixon Partners will be breaking ground in March on its first Nashville project, the 249-unit Fountains at Germantown, reported the Nashville Post. The developer recently closed on the 2.4-acre project site, paying $4.5 million. The seller was R.D. Herbert & Sons Roofing and Sheet Metal Co., which will move from Germantown to West Nashville, spurred by growing investor interest in the dynamic Nashville neighborhood, according to the Nashvillle Post. The development team will also include local architects Smith Gee Studio and Civil Site Design Group as civil engineers and landscaping architects

With construction kicking off in March, Proffitt Dixon expects the community to open in summer 2016, The Tennessean reports. The community will comprise studio, one- and two-bedroom apartment renting from $1,200 to $1,700 per month. Amenities will include a fitness center, pool and high-end club/lounge.

Proffitt Dixon Partners is a multifamily investment and development firm focused on Class A apartments located in the Southeast. The company’s past experience includes projects in Alabama, California, Florida, Georgia and the Carolinas, with a significant percentage of projects located in the Charlotte Metropolitan Area. Proffitt Dixon has over $200 million in transactions since 2008 and has an active development pipeline in the Carolinas and Tennessee. Among them is Fountains Matthews, a 258-unit luxury residential community that recently broke ground in Charlotte. The $30 million community will feature one, two- and three-bedroom units as well as eight live-work units targeting small business owners. Its recently completed projects include Fountains at Mooresville Town Square in Mooresville, NC.

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Image credits: Proffitt Dixon Partners