Developer Tim Johnson started Material Ventures nearly 3 years ago. During the formation of his firm, Johnson wanted to focus on long-term investment strategies that are differentiated and tough to replicate, which led him to an opportunity in Green Hills. The area has a robust retail shopping District surrounded by established homes and institutions. Johnson is drawn to the need for high-quality housing options that bridge the gap between single-family homes and more typical apartment living. Material Ventures and Stiles Development are in the final stages planning stages of its 6-story 98-unit project. The project will replace a 2-story office building with a new mixed-use development.
After working in real estate nationwide, most recently based in San Francisco with a real estate developer, Johnson decided to start his own real estate investment platform based in Nashville. “I adopted along-term investment approach from my previous employer, but wanted to apply it to more boutique and high-character developments.” The Vanderbilt graduate said Nashville was an easy decision.“Nashville stands out compared to other high growth cities – it has authenticity and character.”
Tim Johnson, Founder & Principal at Material Ventures
Johnson believes that Green Hills presents a big opportunity for long term investment. During the interview I asked what are some other key attributes that led to developing here,
“I believe that this section of Green Hills wants to evolve from primarily a regional shopping district towards more of a mixed-use neighborhood that’s really walkable. I think that’s what people want from Green Hills today and that really hasn’t historically been offered.”
The developer also discussed some of the challenges with an area such as this and how a long-term strategy is the best fit.
“Green Hills is a difficult place to find opportunities as people hold on to their investments there for a long time. However, if you can find property there, you can create a something that feels very distinct from what’s existing today.”
Development video for greater context.
Designed by Smith Gee Studio, the design approach for the development was to bridge the gap between the single-family home and apartments by bringing custom home touchpoints and finishes to an apartment experience. The project will offer 1,2, and 3-bedroom apartments with an average unit size of over 1,250 square feet. The residences will offer spacious floor plans with a focus on private outdoor living areas, natural light, and custom home interior finishes.
“We wanted to be respectful to Green Hills architecture and what’s there today and also try to design towards where I think Green Hills is going and not necessarily replicating everything that’s there. This submarket is still defining itself as far as the renter base goes, but I think there’s demand for rental products that bridge the offering gap between single family homes and more typical apartments. We are designing for renters that are more accustomed to single-family homes but would appreciate a more flexible and active lifestyle.”
Shown for context only.
The draw of inspiration from single family homes will also be seen in the programming of its amenities. “We designed the courtyard to feel like a backyard terrace rather than an apartment amenity deck. We want the fitness center to feel like your dream home gym paired with a spa from a boutique hotel.”
The top floor of the building will feature a south-facing private indoor/outdoor dining room that overlooks Green Hills and allows residents to host dinner parties like they could at a single-family home. The developer also noted how retail is a big part of this project. At just under 10,000 square feet, that size is “meaningful” for a boutique project like this. It will bring new pedestrian activation and provide an opportunity for neighborhood-oriented retail on the ground floor.
Shown for context only.
Like many areas in Nashville, even minor changes to traffic infrastructure will make an impact on peak traffic flows, safe pedestrian travel, and providing multimodal options. The project will include a signalized crossing on Crestmoor Road, first generation sidewalks, and a landscaped streetscape.
Additionally, Nashville Mayor O’Connell is also working on a transit plan that will provide relief for pedestrians and vehicles alike. Some of the highlights of the plan includes 86 miles of sidewalks, 600 traffic signals, and 8 miles of bus rapid transit (BRT) lanes.We concluded the interview with a discussion on the state current market and his commitment to Nashville.
We concluded the interview with a discussion on the state current market and his commitment to Nashville.
“I chose Nashville to establish a boutique real estate platform because it’s an inspiring place to do business and a charming city to grow a family. I’m focused on applying this long-term investment strategy in my new venture and am excited about staying in Nashville long-term.“
The developer is planning for a 4th Quarter start for construction.
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