T2 Capital Management, plans to break ground on a new condo development named 160 Lofts. The property is located on historic 2nd Avenue in Downtown Nashville. The private equity real estate investment firm announced the acquisition of the 50,000 SF property, which was damaged by the 2020 Christmas bombing. The City of Nashville recently opened a section of the revitalized 2nd Avenue which is getting new infrastructure and pedestrian centric upgrades making it more walkable and vibrant. The property is located at 160 2nd Avenue North.
“This property is immensely important to not only the T2 team but the city of Nashville. Following the tragic events of 2020, we feel privileged to be restoring the 160 Lofts property and playing a central role in revitalizing such a storied and important part of downtown Nashville.”
Tom Lowe, Director of Acquisitions
T2 plans to restore and convert the building, previously home to “The Old Spaghetti Factory,” into 50+ residential condominiums, each of which can be used as short-term rental units. The existing, underground 19-stall parking structure is intended to remain intact and be available to condominium buyers. Upon completion, the 4-story, 50,000 SF vacant building is anticipated to consist of six floors totaling 70,000 square feet.
The centrally located property – which overlooks the Cumberland River, is across from Nissan Stadium and the East Bank, as well as adjacent to Broadway. The project will also serve as the next generation of Second Avenue retail by reactivating 10,000 SF of commercial space.
“Nashville has been a welcome home to T2 for many years and it’s an honor to be playing a role in rebuilding such a significant property in the heart of Music City. Given Nashville’s persistent growth and the prime location of the 160 Lofts project, as a leading commercial real estate investor, we believe T2 is well positioned to shepherd this project and help activate Second Avenue into an integral part of downtown.”
Jeff Brown, Founder and CEO of T2.
Over the past 10 years, T2 invested in multiple projects throughout Nashville totaling more than $100 million in value. The firm recently proposed another project in Downtown named Trio. Located a few blocks over in Pietown, the firm noted that they are actively evaluating the best use and height for that project given changing market conditions.
The proposed 160 Lofts project was advanced in strong coordination with the city council and Mayor’s office as well as T2’s valued investment partners. T2 anticipates breaking ground on property renovations in mid-2025 and completing the project in 2026.
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