505 Residential Tower Might Offer Condos In '18
505, the residential tower rising at Fifth and Church in Downtown Nashville, might eventually offer some of its units as condos. That was the word from co-developer Tony Giarratana at the topping out ceremony last week. He said renting will continue as construction does, but in early 2018, a decision will be made whether to sell any of the units, the Tennessean reports.
When complete, the building will be Nashville's tallest residential structure, offering 543 units on the site of the old Nashville Convention Center. Were units to be sold, they would probably be the 193 units from the 30th to the 45th floors, or the tallest 15 stories of the property. Demand for condos Downtown is reportedly high, with only about 60 units on the resale market now.
The first apartments at 505 will be available in October, and all of the units and the property's common amenities will deliver by January. The lower part of the building will feature units renting from $1,500 to $3,800/month. If the upper units turn out to be rental, they would fetch $2,200 to $6,700/month.
