Wood Partners has closed on land for its second Metrocenter project, Alta Lofts on the Levee. The new 325-unit riverfront community is adjacent to the Metrocenter Levee Greenway Trailhead, which recently underwent extensive renovations solely funded and executed by Wood Partners. The Wood Partners development team worked with the Metro Board of Parks and Recreation in a Public-Private Partnership to dramatically improve the Metrocenter Greenway Trailhead and adjacent stretch of the Greenway. Alta Lofts on the Levee (ALTA Lofts)is located at 210 Cumberland Bend.
“We made an early prediction that the Greenway, much like the Beltline in Atlanta, will play a huge role in the future of Nashville, and were the first to significantly invest in Greenway living. We also were early adopters in the potential of Metrocenter as a fully realized ‘live, work, play’ district. We are aiming to create another award-winning wellness-forward apartment community in Metrocenter that sets an even higher standard for Greenway living in Nashville.”Andrew Steffens, Managing Director of Wood Partners’ Nashville office.
ALTA Lofts is located next to the company’s first Metrocenter project, Alta Riverwalk. This project was an immediate success, overperforming in rents and sale metrics despite volatile market conditions: a global pandemic, interest rate inflation, and supply chain disruptions. Alta Riverwalk created a new benchmark for rents and sales in the Metrocenter submarket and was at the forefront of an increasing trend of healthy buildings in Nashville.
In addition to winning Walk Bike Nashville’s Most Walkable Bikeable Urban Project Award, it is the first certified Fitwel® Community in the state of Tennessee, intentionally designed to support and encourage physical, mental, social, environmental, and community health and wellness. Alta Lofts on the Levee will also be seeking Fitwel® certification.
“At Wood Partners, we have sturdy institutional relationships allowing us to pursue and close real estate deals despite the obvious economic headwinds,” Steffens said. “We will continue to actively seek new projects and opportunities in the region.”
With Alta Lofts on the Levee breaking ground in October 2023, Steffens, “continues to drive Wood Partners forward as Nashville’s most active developer”. Since launching in Nashville in 2019, Wood Partners has completed five projects, with an additional two under construction and two more expected to start by the end of 2023, for a total of 2,806 residential units in the Nashville area.
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