Colliers Nashville has just listed for sale 20.35 developable acres off the Charlotte Pike corridor, named the Clifton Innovation District. The site is strategically situated 5 minutes from the heart of Midtown and Downtown Nashville. Few sites of this scale have traded in Nashville in recent years, with the size and scale of the Clifton Innovation District on par with Nashville Yards and OneCity nearby. The site has a reference address of 2300 Clifton Avenue.
“This is an extremely rare assemblage of land directly in the urban core that offers unprecedented scale and will allow a developer to make a meaningful mark on Nashville’s skyline. Over the past few years, we have had multiple unsolicited conversations with user groups interested in some or all of the site, but we have decided to broaden the conversation to ensure we identify all groups who would be interested in an opportunity of this magnitude adjacent to Downtown Nashville.”
Patrick Inglis, SVP Colliers International
Shown for context only.
The conceptual design was created by the STG Design Nashville office. The architect noted that the site is unique to the market given its size and potential for development. The goal of the master plan was to focus on density along Clifton Ave while concentrating more neighborhood services towards the middle of the site to support the development and surrounding neighborhoods.
This design truly has the capability of creating a sense of place and ultimately a unique walkable mixed-use neighborhood that connects to downtown Nashville. The conceptual design created shows the connectivity and engagement with the planned Greenway extension, which will ultimately connect Centennial Park/Vanderbilt with the Gulch. It also offers insight into the potential scale and building heights achievable on this site.
Geographically, going west from the site on Charlotte Pike are neighborhoods such as Sylvan Park, The Nations, and Sylvan Heights. These communities have a mix of established, recently built, under construction, and upcoming rental and for sale housing options. There are also plans for a new grocery anchored development. Traveling East on Charlotte Pike you have Midtown, home to many of Nashville’s major healthcare firms, and Downtown approximately 1 mile away. Charlotte Pike is also a major arterial transit corridor and is serviced by WeGo Route 50. This location abutting a Qualified Opportunity Zone (QOZ) could also provide potential financial and tax incentives for adding attainable housing opportunities to the development mix.
The listing comes as developers are looking to build mixed-use developments which include Class A office space near the edge of Downtown Nashville. This shift offers dramatic views of the Downtown Skyline and brings more economic opportunities closer to neighborhoods. This can be seen a couple of blocks away at One City, where developer Convexity Properties is finishing up its 15-story office building (shown in the image above).
Currently, the Clifton site is occupied by 4 commercial/light industrial buildings and mostly cleared land. By-right zoning permits office, medical office/lab and a wide range of industrial uses. Multifamily can also be permitted with conditions (PC). A developer could potentially explore expanding site uses through the Specific Plan (SP) process. The site is bounded by railroad tracks to the North & South. The Northern-most tracks are owned and operated by the RJ Corman Railroad, and expected to be part of the Charlotte Corridor Rail-with-Greenway extension connecting Centennial Park to the Gulch.
For more on this opportunity contact Patrick Inglis at Patrick.inglis@colliers.com, or at 615-850-2766.
Be sure to subscribe for more on this and other Developments In & Around Nashville!
