The Development partners behind Peabody Union, Hensler Development Group, Stiles, and PGIM Real Estate have announced the name for the 27-story residential tower, Olive at Peabody Union (Olive). The new multifamily tower will be managed by Greenbelt, Maryland-based Bozzuto, which already has a Nashville presence. Residents and visitors will soon get a new Downtown experience with the new living, shopping, and entertainment options at the blossoming South Bank district. Olive is located at 30 Peabody street.
“Olive at Peabody Union strikes the perfect balance of a sanctuary for respite and an urban playground of possibilities through its proximity to Nashville’s most exciting neighborhoods and downtown,” said Ray Hensler. “With Peabody Union, we are establishing a destination that has not existed in Nashville in terms of a carefully designed and heightened living experience alongside curated retail, restaurants, public spaces, connection to greenways, the river, and proximity to downtown while maintaining a comfortable separation from the tourist district.”
Floor plans at Olive include a mix studio,1 and 2-bedroom residences, as well as 3-bedroom penthouses with units as large as 2,585 sf. Designed by Hastings Architecture, Olive at Peabody Union boasts rich custom materials throughout, like polished concrete, hardwoods, artisan metal staircases, which designers crafted to be explored. Olive’s exterior features architectural metal panels which change perceived colors in the sun and shade, heightening its prominence and ability to stand out on the Nashville skyline.
Amenities at Olive include a speakeasy sky lounge, expansive amenity deck with pool and hot tub, wellness center with cold plunge and infrared sauna, state-of-the-art gym, and co-working lounges with views of Cumberland River and Downtown Nashville, and an on-site wellness program.
Additionally, its residents will have direct, interconnected access to Peabody Union’s 50,000 square feet of combined retail and food and beverage space which is within two acres on the ground floor of the development. Peabody Union also includes 250,000 square feet of Class A office space.
“The opening of Olive marks a very exciting milestone for the broader project, which will become a destination for many because of its synergistic residential, retail, food and beverage, and office components.”said Darin Bright, head of core-plus investment strategies for PGIM Real Estate. “Peabody Union is a transformative mixed-use development that benefits from its excellent location within a blossoming neighborhood and offers unimpeded permanent views of the Cumberland River,”
Peabody Union and Olive’s opening will further catalyze the 125-acre South Bank district it is at the center of. The area is envisioned by local stakeholders to be developed as a livable urban neighborhood with quieter, family, and upscale options. Initial move-ins are expected in April of this year.
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