{"id":1004114029,"date":"2015-02-23T08:00:48","date_gmt":"2015-02-23T16:00:48","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=327283"},"modified":"2020-04-13T02:47:15","modified_gmt":"2020-04-13T10:47:15","slug":"st-clair-apartments-set-to-develop-268-unit-stacks-on-main-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/st-clair-apartments-set-to-develop-268-unit-stacks-on-main-2\/","title":{"rendered":"St. Clair Apartments Set to Develop 268-Unit Stacks on Main"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<div id=\"attachment_327287\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Stacks-on-Main.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-327287\" title=\"Stacks on Main\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Stacks-on-Main.jpg\" alt=\"\" width=\"300\" height=\"215\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Stacks on Main<\/p>\n<\/div>\n<p>Nashville\u2019s Metro Planning Commission put a moratorium on Music Row residential development, and many developers are left stunned with projects in limbo, reports the <em><a href=\"https:\/\/www.bizjournals.com\/nashville\/blog\/real-estate\/2015\/02\/both-sides-react-to-music-rows-new-reality.html\" target=\"_blank\" rel=\"nofollow\">Nashville Business Journal<\/a><\/em>. But while Music Row is one of the hottest submarkets for residential development in Nashville, it certainly isn\u2019t the only one drawing investors and developers.<\/p>\n<p>East Nashville is also drawing significant interest. One of the investors looking to take a bite out of Nashville\u2019s apartment market is St. Clair Holdings. According to the <em><a href=\"https:\/\/www.nashvillepost.com\/news\/2015\/2\/11\/atlanta_developer_set_to_start_east_nashville_apartment_project\" target=\"_blank\" rel=\"nofollow\">Nashville Post<\/a>, <\/em>the Atlanta-based real estate investment company is ready to start development on the $40 million Stacks on Main, a 268-unit mid-rise apartment community. The project will be developed by St. Clair Holdings\u2019 apartment subsidiary, St. Clair Apartments, at the corner of 6<sup>th<\/sup> and Main Streets. The Class A community will be built to LEED standards and comprise one and two-bedroom upscale units. The apartments will be stacked around a 322-car central parking structure. There will also be 24 surface parking spaces. Amenities will include a saltwater swimming pool, fitness center, gaming room and business center. The project was initially planned to break ground in July 2014, deliver the first units in September 2015, and take 23 months to fully complete. According to the <em>Nashville Post<\/em>, the project is now targeting an April 2016 completion. According to the <em><a href=\"https:\/\/www.bizjournals.com\/nashville\/morning_call\/2014\/08\/more-apartments-slated-for-east-nashville.html\" target=\"_blank\" rel=\"nofollow\">Nashville Business Journal<\/a><\/em>, Saint Clair Holdings, operating through entity Stacks on Main Owner LLC, acquired the project site in August 2014, paying $4.08 million.<\/p>\n<p><em><a title=\"Market Snapshot: Nashville Tops $1B in Apartment Sales in 2014, Expects Another Banner Year in 2015\" href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-nashville-tops-1b-in-apartment-sales-in-2014-expects-another-banner-year-in-2015\/1004114540.html \" target=\"_blank\" rel=\"nofollow\">Click here<\/a> for further Nashville apartment market data<\/em><\/p>\n<p><em>Image courtesy of St. Clair Holdings<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the investors looking to take a bite out of Nashville&rsquo;s apartment market is St. Clair Holdings.<\/p>\n","protected":false},"author":49,"featured_media":1004506838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36077,21742],"tags":[],"class_list":["post-1004114029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nashville-knoxville","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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