Two high rises to bring 706 apartments to Church Street as Nashville Yards draws employees

Nashville Tennessean

Two high-rise towers are taking shape on Church Street, adding 706 apartment units to downtown Nashville's skyline.

For Nashville developer Tony Giarratana, the $315 million towers are the opposite of the adage, "if you build it, they will come." Giarratana is spearheading the 900 Church and 801 Church buildings to accommodate new residents who are already moving here.

"These two towers, 801 and 900 Church, are driven specifically by the job creation in Nashville Yards," Giarratana said. "We view Nashville Yards as one of the most pivotal mixed-use developments in downtown Nashville."

The massive 18-acre Nashville Yards district includes Amazon's two-tower southeastern U.S. operations headquarters, a 34-story tower topped by Pinnacle Bank's headquarters, the Grand Hyatt and myriad residential and commercial buildings and entertainment venues.

The nearby district will draw thousands of employees, Giarratana said, and those employees will want housing.

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The 38-story 801 Church tower will include 350 apartment units, a 500-car parking garage and just under 3,000 square feet of retail space for a tenant that has yet to be publicly announced.

The neighboring 34-story 900 Church tower will feature 356 apartment units, an expansive glass lobby at the corner of 9th Avenue and Church Street and an acrylic-bottom pool cantilevered over the sidewalk.

"When you're swimming in that pool, you'll be able to look down 34 stories through the bottom," Giarratana said.

A rendering depicts the rooftop pool area in the 900 Church tower, a 34-story building slated for completion in June 2023. 900 Church features an acrylic-bottom pool cantilevered over the sidewalk 34 stories up.

The buildings' amenities will be similar to those offered in Giarratana's nearby residential high-rise 505 Nashville, he said, including club rooms, a business center, a pool deck with sun shelves, a fitness center and a catering kitchen and dining area.

Construction on 900 Church began in February, and the building will begin welcoming tenants in March 2023 with a total completion date in June 2023, according to Giarratana.

801 Church began construction in March and plans to deliver its first units in January 2024 with completion in May 2024. The garage will be available for use in March 2023 as 900 Church begins welcoming its first residents.

A rendering depicts the 801 Church tower, a 38-story building slated for completion in May 2024.

The development closed a $191 million construction loan with real estate finance firm ACORE Capital on June 29.

Giarratana said ACORE Capital has funded $12 million of the loan, but the project must use $124 million in cash equity before it can draw on the remainder of the ACORE funds. The next draw from the $191 million loan will be about 11 months from now, Giarratana said.

Tony Fineman, senior managing director and co-head of originations at ACORE Capital, said the development is a trifecta of a "great project, great sponsor and great location."

"Nashville is clearly one of those markets that will see significant population and job growth for the foreseeable future," Fineman said, referencing large company relocations to Nashville including Amazon and Alliance Bernstein.

ACORE Capital previously worked with Giarratana on the 505 Nashville building.

Reach reporter Cassandra Stephenson at ckstephenson@tennessean.com or at (731) 694-7261. Follow Cassandra on Twitter at @CStephenson731.