According to Zillow, Nashville will be the 3rd hottest housing market in the country in 2021. Not to mention, Nashville was also ranked #17 on the U.S. News & World Report’s 125 Best Places to Live in 2020-2021. To top off the city’s increasing residential development, Roofstock.com, a real estate investing platform, finds that the Nashville area is one of the 10th fastest growing metros in the U.S.1
The downtown area currently has over 14,000 residents, catching up to major cities like Tampa Bay and Austin. A recent study from Census Data shows that downtown Nashville has seen a 152% increase in population from the years 2010-2019. Not to mention, Nashville also has a 93.37% occupancy rate2.
With Nashville’s booming economy, there is a huge demand for condos in the downtown area. As of now, condominiums make up 25% of Nashville’s downtown housing, according to Nashville Downtown Partnership2. Over the past six years, there has been three condominium projects, only adding 535 units to the downtown area. As a total, there are around 2,360 condo units.
CA South Development is building approximately 300 new condo units in the downtown Nashville area across 4 sites. For example, Alina, a 50 residential unit property located 8th Avenue South. It is considered the sister building of CA South’s finished short-term use condo building, Ilume. Alina on 8th ave South is fully complete and already half-sold. Pie Town located on 629-635 7th Ave South has officially broke-ground and CA South looks forward to delivering a mixed-use project by Fall of 2022. The property will have 78 units as well as 8,000 sq. ft. of office space.
With over $450 million in total projects underway, condos are an important but part of CA South’s diversified portfolio of development which also includes Multifamily, Industrial and Office.
Located on 700 1st N is River Tower, which is right off the Cumberland River, is a 28-unit short-term rental condo building that is under construction with finishes beginning to be installed. CA South plans for a summer delivery in July of 2021 and has already received several eager buyers.
Meg and CA South Development are dedicated to modern design, affordable luxury and innovative spaces.
As the real estate market continues to soar, Meg and CA South Development are ready to keep expanding!
2https://ctycms.com/tn-nashville/docs/annual-residential-report-2020pdf-for-website.pdf