On Dec. 9, 2016, Mayor Megan Barry and Metro District 19 Councilman Freddie O’Connell joined the CityLights development and sales teams to break ground for the $73 million, seven-story, 71-unit boutique condominium development that will overlook downtown Nashville and the Cumberland River.
Joe Owen, managing member of Rutledge Development LLC, introduced Chance Ragains, CEO of Patoka Capital. Patoka Capital, Owen and Don Meeks, CEO of Meeks +Partners, are principal investors in the CityLights development. Meeks + Partners is the Houston-based architectural firm that designed the luxury residences and the complete City Lights development.
Owen also announced the developer has received a loan commitment from Wilson Bank and Trust and introduced bank representatives in attendance.
“With equity and debt financing being committed and approximately 40 percent of the units pre-sold, we are ready to break ground and anticipate completing the construction of CityLights and its luxurious residences, restaurant and amenities during the next 18-22 months,” Owen said.
Located just south of Ascend Amphitheatre at the corner of Lea Avenue and Rutledge Street, the condo prices start in the $500s and units will average 1,800 square feet up to 2,600 square feet for two- and three-bedroom condos. Four penthouses with four bedrooms will be between 3,200 and 3,400 square feet. Each unit includes two parking spaces in a secured underground garage and a storage unit. In addition to a rooftop terrace and sky lounge, amenities will include a saltwater swimming pool, terrace and a green roof, 24-hour concierge, a rooftop dog park, a fitness facility with private yoga studio, a conference room, a club room and a guest suite. The building will be anchored by a restaurant with a 1,500-square-foot deck overlooking downtown and the Cumberland River.
Mayor Megan Barry gave brief remarks at the ceremony and stressed the importance of new residences like CityLights in downtown Nashville. “Having a strong vibrant urban core is critical for Nashville,” said Barry. District 19 Council Member, Freddie O’Connell reiterated the Mayor’s sentiment. “Projects like this are going to help the city re-imagine urban living,” O’Connell said.
“CityLights is in an incredible location, with easy access to event venues, Riverfront Park and our greenway system, which is becoming more fully developed each day,” Mark Deutschmann, CEO of Village Real Estate, which is marketing CityLights, said. “Location, distinctiveness, amenities and the opportunity for an active and healthy lifestyle are attracting both in-town and new-to-town buyers to this urban condo.”
The CityLights sales center will be relocated from the construction site to a new location to be announced in the coming days. It will be open on weekends and by appointment.
The RG Anderson Company is the general contractor for the boutique condominium development. Other Nashville projects in the company’s portfolio include Ryman Lofts on nearby Rolling Mill Hill, The Dallas on Elliston Place and Uptown Flats. CityLights buyers, Downtown Nashville Partnership members, and area REALTORS joined the project development and sales teams at the groundbreaking event. To learn more about CityLights, visit www.citylightstn.com .
More information about CityLights is available at www.citylightstn.com.