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Canopy/Homewood Suites, 11 stories, 334 rooms, 5,000 sq. ft. meeting space, rooftop bar, 2,500 sq. ft. retail, 910 Division St (Yazoo Brewing site in Gulch)


markhollin

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Tara Investments, headed up by one of the Patel families out of Charlotte, NC, is under contract to buy the .8 acre site of Yazoo Brewing Company in The Gulch at 910 Division St.  This will be their first project in Nashville, and they are eying the Canopy by Hilton brand for this property.

No amount of rooms, height, renderings, or timeline available at this juncture.  That site is zoned for downtown in the code, which allows developers the greatest flexibility and latitude when designing their projects.

More will be posted as it is made available.

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2018/07/18/exclusive-hilton-brand-hotel-on-tap-for-yazoos.html

Looking north at part of the Yazoo complex at Division and Overton St:

Screen Shot 2018-07-18 at 3.50.09 PM.png


The site is the gray, somewhat-rectangular section labeled "Yazoo Brewing Company" in the center of this screenshot from Smeagolsfree's excellent Development Map:

Screen Shot 2018-07-18 at 3.52.13 PM.png

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According to wiki, there are only 3 other Canopy branded hotels in the world. One in Iceland and two in the DC area.... I think it show a lot of confidence in Nashville for Hilton to have Nashville as the third city to call this brand its home.
 

The Bethesda Canopy

 

930-Rose-Condos.jpg

Edited by Tenn2Tex
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  • 2 weeks later...

The hotel will be 10 stories and have 175 rooms,  according to Amit Patel, the primary partner of Charlotte-based Tara Investments that is behind the project.  It will include 5,000 sq. ft. of meeting space and a rooftop bar. He is trying to convince Yazoo Brewery to maintain a presence on the site with a taproom.  No renderings yet.

Groundbreaking will be early 2020, with construction costing more that $30 million. Patel he has all commitments lined-up for equity to obtain the loans to get underway.  

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2018/08/03/exclusivegulch-hotel-developer-doesnt-want-yazoo.html

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5 hours ago, markhollin said:


Groundbreaking will be early 2020, with construction costing more that $30 million. Patel he has all commitments lined-up for equity to obtain the loans to get underway.  

Early 2020?    Is that because Yazoo needs to remain in their building that long until their new digs in Madison are ready?   

 

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On 8/3/2018 at 1:40 PM, CenterHill said:

Early 2020?    Is that because Yazoo needs to remain in their building that long until their new digs in Madison are ready?   

 

I believe so. Remember that Yazoo is building a small campus from scratch in Madison. 

I always assumed that Yazoo would swing a tap room in whatever building went there. They can’t really afford to not exist close to downtown. 

Edited by japan
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9 hours ago, japan said:

I believe so. Remember that Yazoo is building a small campus from scratch in Madison. 

I always assumed that Yazoo would swing a tap room in whatever building went there. They can’t really afford to not exist close to downtown. 

Indeed, such a big part of their business is the sales and publicity brought by their high profile brewery location. I get that it's an underutilized parcel, but I'll miss them being there. Going to a non production taproom, which is little more than just a tied bar, really doesn't give the same experience as going to the brewery. Nashville is going to be losing a big part of the up and coming downtown brewery scene when Yazoo moves out.

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  • 2 weeks later...

Tara Investments finalized the purchase of the Yazoo site for $9.2 million. The brewery is eyeing a summer of '19 move to their new location in Madison.  

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/article/21018250/charlotte-hotel-developer-buys-yazoo-site

And behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2018/08/16/sales-price-for-brewers-gulch-home-definitely-not.html
 

Screen Shot 2018-08-16 at 8.47.55 AM.png

Screen Shot 2018-08-16 at 3.36.00 PM.png

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