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Possible SoBro Development in Nashville


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Cendant division mulling downtown resort

One of the country's largest time-share operators wants in on downtown Nashville's development boom.

Spurred by the planned Nashville Sounds stadium project, Fairfield Resorts Inc. is considering building a complex along the Cumberland River. The company, a unit of Cendant Corp., runs a 400-unit riverfront resort on McGavock Pike near Opry Mills, which also may be expanded.

A Fairfield decision to build downtown would add to the momentum being generated south of Broadway by the Sounds' plans, the Schermerhorn Symphony Center, Southern Land Co.'s plans for a block of Second Avenue and other projects.

A resort also would add to the Central Business District a different take on housing, a sector that's heating up with small- and large-scale projects. (See our Focus section starting on page 19.)

While many of Fairfield resorts are prototypical beachfront properties, some of its newer projects, such as one on San Antonio's Riverwalk, are in more metropolitan areas and provide clues as to what a downtown Nashville project might look like.

Fairfield's total vacation ownership sales for 2004 were $976 million, up from $862 million the year before. The Nashville resort, which ranks among Fairfield owners' top-five destinations, grew sales 30 percent last year, though LaBelle won't reveal dollar figures.


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