2024 Market Survey
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Davidson Williamson Rober tson Sumner Wilson Cheatham Dickson Montgomer y Maur y Ruther ford See Figure 1 for 24 1 8 1 2 1 4 1 5 19 4 5 6 22 Market Sur vey Zones 1. Antioch – Priest Lake (Figure1) 2. Bellevue (Figure1) 3. Bordeaux – Whites Creek (Figure1) 4. Brentwood – Franklin 5. Cheatham County 6. Dickson County 7. Donelson – Hermitage (Figure1) 8. Downtown (Figure1) 9. East Nashville (Figure1) 10. Joelton (Figure1) 11. Green Hills – Midtown (Figure1) 12. Hendersonville – Gallatin 13. Madison (Figure1) 14. Mt. Juliet – Lebanon 15. Murfreesboro 16. North Nashville (Figure1) 17 Parkwood – Union Hill (Figure1) 18. Robertson County 19. Smyrna – LaVergne 20. South East (Figure1) 21. South Nashville (Figure1) 22. Spring Hill – Columbia 23. West Nashville (Figure1) 24. Clarksville – Montgomer y County 25. Cookeville - Putnam County (Standalone Zone) (Standalone Zone) Nashville Knoxville Putnam 25 ©2021 Greater Nashville Apartment Association. All Rights Reserved No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed.
Market Survey Zones GNAA Market Survey
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 4 SUBMARKET Total Units Occ Rate Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Antioch - Priest Lake 1101 96.25% 1.16 $ 989 $1,144.00 $0.00 0 $0.00 $1.38 700 $970.00 $1.15 976 $1,127.00 1.05 $ 1260 $1,319.00 Bellevue 90 100.00% 1.42 $ 943 $1,335.00 $0.00 0 $0.00 $0.00 0 $0.00 $1.48 864 $1,279.00 1.30 $ 1138 $1,474.00 Bordeaux - Whites Creek 576 96.70% 1.53 $ 1001 $1,527.00 $0.00 0 $0.00 $1.53 728 $1,111.00 $1.23 1036 $1,271.00 1.99 $ 1164 $2,313.00 Brentwood - Franklin 211 98.50% 0.92 $ 982 $902.00 $0.00 0 $0.00 1.07 815 $868.00 $0.93 927 $862.00 0.85 $ 1230 $1,052.00 Dickson County 130 95.83% 1.03 $ 933 $958.00 $0.00 0 $0.00 $1.10 889 $980.00 $0.99 857 $844.00 1.10 $ 1158 $1,270.00 Donelson - Hermitage 412 97.57% 1.22 $ 1052 $1,279.00 $0.00 0 $0.00 $1.48 700 $1,036.00 $1.24 967 $1,202.00 1.19 $ 1151 $1,368.00 Downtown 48 93.52% 1.69 $ 630 $1,604.00 $0.00 0 $0.00 $1.69 630 $1,064.00 $ 1.38 816 $ 1126 $1.00 1316 $1,312.00 East Nashville 865 96.93% 1.26 $ 1042 $1,310.00 $0.00 0 $0.00 $1.44 730 $1,052.00 $1.26 1020 $1,282.00 1.22 $ 1169 $1,424.00 Green Hills - Midtown 443 92.79% 1.78 $ 818 $1,460.00 $0.00 0 $0.00 $1.86 667 $1,240.00 $1.75 1073 $1,884.00 1.46 $ 1381 $2,020.00 Hendersonville - Gallatin 536 98.88% 1.12 $ 1043 $1,172.00 $0.00 0 $0.00 $1.12 761 $851.00 $1.17 1001 $1,171.00 1.07 $ 1263 $1,349.00 Macon 60 90.00% 0.77 $ 904 $696.00 $0.00 0 $0.00 $0.81 693 $562.00 $0.79 897 $710.00 0.68 $ 1144 $772.00 Madison 1298 94.85% 1.31 $ 840 $1,101.00 $0.00 0 $0.00 $1.44 664 $957.00 $1.25 957 $1,195.00 1.17 $ 1215 $1,420.00 Mt. Juliet - Lebanon 352 95.98% 1.14 $ 1071 $1,225.00 $0.00 0 $0.00 $1.63 678 $1,105.00 $1.15 999 $1,147.00 1.12 $ 1250 $1,397.00 Murfreesboro 523 97.29% 1.14 $ 1025 $1,171.00 $0.00 0 $0.00 $1.48 616 $1,005.00 $1.10 1018 $1,115.00 1.13 $ 1169 $1,324.00 North Nashville 336 94.96% 1.27 $ 979 $1,240.00 $0.00 0 $0.00 $1.38 636 $923.00 $1.09 998 $1,087.00 1.36 $ 1125 $1,532.00 Parkwood - Union Hill 817 97.55% 1.24 $ 1053 $1,308.00 $0.00 0 $0.00 $1.59 671 $1,067.00 $1.22 1065 $1,304.00 1.15 $ 1267 $1,454.00 Robertson County 288 98.61% 1.25 $ 938 $1,175.00 $0.00 0 $0.00 $1.50 641 $1,026.00 $1.25 911 $1,139.00 1.21 $ 1062 $1,287.00 Smyrna - LaVergne 438 98.86% 1.22 1060 $1,290.00 $0.00 0 $0.00 $1.33 734 $975.00 $1.16 1013 $1,175.00 1.25 $ 1180 $1,472.00 South East 90 100.00% 1.09 833 $909.00 $0.00 0 $0.00 1.22 000 $792.00 $1.06 904 $954.00 $0.00 1062 $1,062.00 South Nashville 152 98.03% 1.73 593 $1,028.00 $0.00 0 $0.00 $1.74 590 $1,028.00 $1.24 850 $1,050.00 $0.00 0 $0.00 Spring Hill - Columbia 300 92.67% 0.96 1131 $1,084.00 $0.00 0 $0.00 $0.71 679 $635.00 $0.98 1051 $1,031.00 0.96 $ 1229 $1,181.00 Warren County 86 96.49% 0.62 1029 $640.00 $0.00 0 $0.00 $0.61 750 $495.00 $0.55 950 $525.00 0.67 $ 1168 $780.00 Total Units 9,152 Overall Occupancy 96.47% Overall Average Rent 1,162 $ Overall Average Size 950 Overall Average Rent/Sq Ft 1.22 $ *Zones not represented did not report 0 Bedroom Greater Nashville Summary of Affordable Statistics by Submarket First Quarter 2024 Overall 1 Bedroom 2 Bedroom 3 Bedroom 615.868.4101 Landlord Advocate® Hall & Associates MIDDLE TENNESSEE EVICTIONS & COLLECTIONS Hall_MarketSurveyBanner.indd 1 2/18/20 8:15 AM PLC
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 5 615.868.4101 Landlord Advocate® Hall & Associates MIDDLE TENNESSEE EVICTIONS & COLLECTIONS Hall_MarketSurveyBanner.indd 1 2/18/20 8:15 AM SUBMARKET Total Units Occ Rate Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Clarksville - Montgomery Co. 670 95.40% 0.87 $ 1044 908 $ NA NA NA 0.95 $ 741 704 $ 0.90 $ 1004 898 $ 0.81 $ 1250 1,012 $ Total Units 670 Overall Occupancy 95.40% Overall Average Rent 908 $ Overall Average Size 1,044 Overall Average Rent/Sq Ft 0.87 $ SUBMARKET Total Units Occ Rate Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Cookeville - Putnam County 188 94.15% $0.81 935 755 $ NA NA NA 0.86 $ 740 640 $ 0.78 $ 989 771 $ 0.80 $ 1109 892 $ Total Units 188 Overall Occupancy 94.15% Overall Average Rent 755 $ Overall Average Size 935 Overall Average Rent/Sq Ft 0.81 $ Clarksville - Montgomery
First Quarter 2024 Overall 0 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom
County Summary of Affordable Statistics
Overall 0 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom PLC
Cookeville - Putnam County Summary of Affordable Statistics
First Quarter 2024
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 6 SUBMARKET Total Units Occ Rate Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Antioch - Priest Lake 8384 91.35% $1.55 939 $1,422 $1.88 584 $1,098.00 $1.69 741 $1,255.00 1.43 $ 1063 $1,525.00 1.32 $ 1333 1,762 $ Bedford County 106 95.28% $1.38 815 $1,127 $2.86 350 $1,000.00 $1.30 694 $899.00 1.45 $ 816 $1,184.00 1.04 $ 1044 1,089 $ Bellevue 4750 94.23% $1.68 995 $1,676 $2.88 37 $1,548.00 $2.09 717 $1,495.00 1.55 $ 1114 $1,728.00 1.41 $ 1429 2,020 $ Bordeaux - Whites Creek 125 88.80% $4.56 240 $1,095 $4.56 240 $1,095.00 $0.00 0 $0.00 $0.00 0 $0.00 $ 0.00 0 $ 0.00 Brentwood - Franklin 8101 91.69% $1.97 1004 $1,980 $2.91 608 $1,772.00 $2.23 789 $1,755.00 1.83 $ 1143 $2,093.00 1.88 $ 1368 2,569 $ Cheatham County 512 91.86% $1.53 994 $1,523 $0.00 0 $0.00 $1.85 742 $1,373.00 1.45 $ 1089 $1,577.00 1.31 $ 1315 1,721 $ Cumberland County 64 100.00% $0.60 1035 $624 $ 0.00 0 $0.00 $0.61 839 $515.00 0.61 $ 991 $605.00 0.59 $ 1158 685 $ Dickson County 194 92.78% $1.44 1032 $1,488 $0.00 0 $0.00 $1.67 765 $1,277.00 1.45 $ 1019 $1,479.00 1.33 $ 1243 1,653 $ Donelson - Hermitage 4610 92.68% $1.61 949 $1,524 $2.26 531 $1,199.00 $1.85 720 $1,335.00 1.51 $ 1065 $1,605.00 1.44 $ 1315 1,894 $ Downtown 5250 86.55% $3.04 819 $2,491 $3.23 527 $1,701.00 $3.05 717 $2,185.00 2.91 $ 1126 $3,281.00 3.50 $ 1544 5,400 $ East Nashville 578 92.56% $2.12 786 $1,664 $2.87 522 $1,497.00 $2.36 694 $1,639.00 1.88 $ 908 $1,709.00 $0.00 0 $0.00 Green Hills - Midtown 7090 91.56% $2.43 807 $1,964 $3.40 493 $1,648.00 $2.54 702 $1,784.00 2.19 $ 1074 $2,357.00 1.92 $ 1317 2,528 $ Hendersonville - Gallatin 6032 93.92% $1.54 991 $1,526 $0.52 306 $160.00 $1.75 76 $1,340.00 1.47 $ 1096 $1,609.00 1.44 $ 1304 1,851 $ Madison 3013 89.73% $1.52 954 $1,449 $2.92 325 $950.00 $1.72 723 $1,240.00 1.43 $ 1091 $1,563.00 1.38 $ 1328 1,827 $ Mt. Juliet - Lebanon 5179 93.48% $1.51 1047 $1,581 $2.39 618 $1,478.00 $1.74 799 $1,387.00 1.44 $ 1142 $1,648.00 1.35 $ 1426 1,932 $ Murfreesboro 10855 94.63% $1.51 991 $1,496 $2.02 527 $1,065.00 $1.75 756 $1,323.00 1.43 $ 1091 $1,560.00 1.35 $ 1346 1,821 $ North Nashville 3455 89.32% $2.39 825 $1,971 $2.91 600 $1,744.00 $2.50 722 $1,803.00 2.15 $ 1095 $2,359.00 2.11 $ 1156 2,438 $ Parkwood - Union Hill 646 97.06% $1.38 953 $1,312 $1.84 620 $1,139.00 $1.51 752 $1,136.00 1.31 $ 1060 $1,391.00 1.28 1267 $ 1,621 Robertson County 212 98.11% $1.37 1084 $1,483 $0.00 0 $0.00 $1.69 800 $1,355.00 1.36 $ 1085 $1,473.00 1.29 $ 1270 1,640 $ Smyrna - LaVergne 2460 95.08% $1.52 1015 $1,543 $3.47 288 $999.00 $1.73 756 $1,308.00 1.46 $ 1065 $1,557.00 1.49 $ 1286 1,911 $ South East 10742 93.14% 1.62 890 $1,440 $2.70 541 $1,460.00 $1.82 704 1,280 $ 1.50 $ 1038 1,554 $ 1.40 $ 1312 1,837 $ South Nashville 3128 91.57% 1.87 836 $1,504 $3.16 450 $1,421.00 $2.14 652 1,393 $ 1.55 $ 1051 1,634 $ 1.59 $ 1366 2,174 $ Spring Hill - Columbia 3005 93.46% 1.54 1022 $1,578 $0.00 0 $0.00 $1.64 852 1,402 $ 1.50 $ 1071 1,604 $ 1.56 $ 1202 1,875 $ West Nashville 981 97.76% 1.77 806 $1,566 $0.00 0 $0.00 $2.04 729 1,490 $ 1.63 $ 964 1,573 $ 1.64 $ 1121 1,835 $ Total Units 89,472 Overall Occupancy 93.19% Overall Average Rent $1,543 Overall Average Size 909.54 Overall Average Rent/Sq Ft 1.70 $ Greater Nashville Summary of Conventional Statistics by Submarket First Quarter 2024 Overall 0 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 615.868.4101 Landlord Advocate® Hall & Associates MIDDLE TENNESSEE EVICTIONS & COLLECTIONS Hall_MarketSurveyBanner.indd 1 2/18/20 8:15 AM PLC
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 7 SUBMARKET Total Units Occ Rate Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Clarksville - Montgomery Co. 4,234 95.11% $1.27 970 1,230 $ $1.80 525 $942.00 1.53 $ 713 1,092 $ 1.24 $ 1011 1,251 $ 1.13 $ 1303 1,469 $ Total Units 4,234 Overall Occupancy 95.11% Overall Average Rent 1,230 $ Overall Average Size 970 Overall Average Rent/Sq Ft $1.27 SUBMARKET Total Units Occ Rate Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Rent Sq Ft Avg Sq Ft Avg Rent Cookeville - Putnam County 909 94.71% $1.12 963 1,079 $ $0.00 NA NA 1.33 $ 605 807 $ 1.12 $ 1011 1,132 $ 0.99 $ 1340 1,330 $ Total Units 909 Overall Occupancy 94.71% Overall Average Rent 1,079 $ Overall Average Size 963 Overall Average Rent/Sq Ft $1.12
- Montgomery
First Quarter 2024 Overall 0 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom
Clarksville
County Summary of Conventional Statistics
First
Overall 0 Bedroom 1 Bedroom 2 Bedroom 3 Bedroom 615.868.4101 Landlord Advocate® Hall & Associates MIDDLE TENNESSEE EVICTIONS & COLLECTIONS Hall_MarketSurveyBanner.indd 1 2/18/20 8:15 AM PLC
Cookeville - Putnam County Summary of Conventional Statistics
Quarter 2024
2024 Market Survey
With more than 55 years of focus to create the best places to live and work for our residents and clients.
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 8 Submarket Occ Avg Rent Occ Avg Rent Occ Avg Rent Occ Avg Rent Occ Avg Rent Antioch - Priest Lake 91.35% $1,422 92.97% $1,453 -0.02% -0.02% 91.91% $1,436 -0.01% -0.01% Bedford County 95.28% $1,127 97.92% $958 -0.02% 0.18% 90.57% $1,113 0.05% 0.01% Bellevue 94.23% $1,676 94.11% $1,723 0.00% -0.03% 92.99% $1,700 0.01% -0.01% Bordeaux - Whites Creek 88.80% $1,095 93.43% $1,193 -0.05% -0.08% 89.60% $1,093 -0.01% 0.00% Brentwood - Franklin 91.69% $1,980 93.71% $1,967 -0.02% 0.01% 94.18% $2,038 -0.03% -0.03% Cheatham County 91.86% $1,523 97.05% $1,324 -0.05% 0.15% 93.00% $1,361 -0.01% 0.12% Dickson County 92.78% $1,488 93.41% $1,302 -0.01% 0.14% 95.89% $1,161 -0.03% 0.28% Donelson - Hermitage 92.68% $1,524 94.34% $1,517 -0.18% 0.00% 94.27% $1,531 -0.02% 0.00% Downtown 86.55% $2,491 92.35% $2,160 -0.06% 0.15% 89.89% $2,380 -0.04% 0.05% East Nashville 92.56% $1,664 94.36% $1,704 -0.02% -0.02% 92.05% $1,734 0.01% -0.04% Green Hills - Midtown 91.56% $1,964 88.88% $2,109 0.03% -0.07% 89.92% $1,924 0.02% 0.20% Hendersonville - Gallatin 93.92% $1,526 94.58% $1,559 -0.01% -0.64% 94.35% $1,554 0.00% -0.02% Madison 89.73% $1,449 94.53% $1,345 -0.05% 0.08% 94.13% $1,424 -0.05% 0.02% Mt. Juliet - Lebanon 93.48% $1,581 96.34% $1,563 -0.03% 0.01% 96.33% $1,546 -0.03% 0.02% Murfreesboro 94.63% $1,496 95.27% $1,538 -0.01% -0.03% 92.67% $1,517 0.02% -0.01% North Nashville 89.32% $1,971 87.96% $1,946 0.02% 0.01% 92.85% $1,988 -0.04% -0.01% Parkwood - Union Hill 97.06% $1,312 95.20% $1,377 0.02% -0.05% 97.98% $1,280 -0.01% 0.03% Robertson County 98.11% $1,483 97.29% $1,429 0.01% 0.04% 97.33% $1,539 0.01% -0.04% Smyrna - LaVergne 95.08% $1,543 91.67% $1,505 0.04% 0.03% 96.34% $1,516 -0.01% 0.02% South East 93.14% $1,440 93.31% $1,483 0.00% -0.03% 92.20% $1,455 0.01% -0.01% South Nashville 91.57% $1,504 93.54% $1,387 -0.02% 0.08% 89.95% $1,560 0.02% -0.04% Spring Hill - Columbia 93.46% $1,578 94.88% $1,585 -0.01% 0.00% 94.12% $1,567 -0.01% 0.07% West Nashville 97.76% $1,566 96.16% $1,664 0.02% -0.06% 93.98% $1,623 0.04% -0.04% Averages 97.12% $1,654.68 98.33% $1,626.86 -1.23% 1.71% 97.57% $1,638.18 -0.46% 1.01% Total Units Reporting 89,472 94,046 90,000 Submarket* Occ Avg Rent Occ Avg Rent Occ Avg Rent Occ Avg Rent Occ Avg Rent Clarksville - Montgomery Co. 95.11% $1,230 91.51% $1,184 3.93% 3.89% 93.53% $1,231 1.69% -0.08% Total Units Reporting 4,234 5,149 4,427
Market
Clarksville / Montgomery County First Quarter 2024 Conventional Occupancy and Average Rent Comparison vs. First Quarter 2023 and Fourth Quarter 2023 1st Quarter 2024 1st Quarter 2023 % Change 4th Quarter 2023 % Change 4th Quarter 2023 1st Quarter 2023 First Quarter 2024 Conventional Occupancy and Average Rent Comparison vs. First Quarter 2023 and Fourth Quarter 2023 % Change 1st Quarter 2024 % Change
*Independent
- not included in any GNAA Totals
The Pinnacle of Real Estate The Grove Whitworth 615.269.5500 The Grove Richland 615.297.8587
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 9 $1,310 $1,326 $1,580 $1,654 $1,657 $1,658 94.06% 92.05% 95.89% 93.64% 92.81% 93.19% 90% 91% 92% 93% 94% 95% 96% 97% 98% 99% $850 $950 $1,050 $1,150 $1,250 $1,350 $1,450 $1,550 $1,650 $1,750 2019 2020 2021 2022 2023 2024 Average Occupancy Average Rent Conventional Average Year End Occupancy and Rent 2019 - 2024 Average Rent Average Occupancy Submarket* Occ Avg Rent Occ Avg Rent Occ Avg Rent Occ Avg Rent Occ Avg Rent Cookeville - Putnam Co. 94.72% $1,079 97.81% $1,051 -3.16% 2.66% 96.97% $1,185 -2.32% -8.95% Total Units Reporting 909 228 198 *Independent Market - not included in any GNAA Totals Cookeville / Putnam County First Quarter 2024 Conventional Occupancy and Average Rent Comparison vs. First Quarter 2023 and Fourth Quarter 2023 1st Quarter 2024 1st Quarter 2023 % Change 4th Quarter 2023 % Change
2024 Market Survey
Speculation Construction - First Quarter 2024 28,484 Units Name Developer Submarket Units Financing Address Ariza Bellevue Cypressbrook Company Bellevue 417 Conventional 1084 Morton Mill Road Leftbank Bordeaux Left Bank Holdings Bordeaux - Whites Creek 460 Conventional 3709 Clarksville Pike Madison Trinity Madison Capital Group Bordeaux - Whites Creek 300 Conventional 325 West Trinity Lane Orchard Hills Elmington Capital Group Bordeaux - Whites Creek 250 Conventional 3720 Clarksville Pike Talbot's Corner Flats Trinity Lane Development Group Bordeaux - Whites Creek 220 Conventional 329 West Trinity Lane The Cove Cove Residential / Wharton Capital Corporation Bordeaux - Whites Creek 275 Conventional 869 West Trinity Lane Avalon Franklin The Parkes Cos. Inc. Brentwood - Franklin 388 Conventional 1059 Cool Springs Boulevard Guefen Project Origin Capital/Guefen Brentwood - Franklin 271 Conventional 151 Cool Springs Boulevard Bigby Crescent Development Brentwood - Franklin 330 Conventional 100 Resource Parkway East Works District Market Street / Lionstone Investments Brentwood - Franklin 1600 Conventional 9009 Carothers Parkway West Franklin Park Northwood Ravin / Boyle Investments Brentwood - Franklin 480 Conventional 6700 Tower Circle The Middle Eight Truland Development Company Brentwood - Franklin 275 Conventional 209 Old Liberty Pike Poplar Farms Meritage Homes / Signature Homes Brentwood - Franklin 546 Conventional Clovercroft Road/Market Street ACQUISITIONS | PROPERTY MANAGEMENT | FEE MANAGEMENT | RESIDENTIAL BROKERAGE | CONSTRUCTION MAXIMIZE YOUR ASSETS. TRUST IN OUR LEGACY. FREEMAN WEBB COMPANY W W W . F R E E M A N W E B B . C O M Speculation Construction - First Quarter 2024 28,484 Units Name Developer Submarket Units Financing Address Stillmore & Westbrook Project Stillmore & Westbrook Donelson - Hermitage 100 Affordable 1620 - 1634 Lebanon Pike Central Pike South National Healthcare Corp. Donelson - Hermitage 320 Conventional 4214 Central Pike 612 10th Avenue North Boyle / Northwood Ravin Downtown 330 Conventional 612 10th Avenue North Buckingham Companies Project Buckingham Companies Downtown 345 Conventional 701 12th Avenue South LC SoBro, Phase II Lifestyle Communities Downtown 145 Conventional 723 3rd Avenue South Gulch Tidal Real Estate Partners Downtown 393 Conventional 125 11th Avenue North VeLa Pietown VeLa Development Downtown 411 Conventional 601 Lafayette Street Eleven North Portman Residential Downtown 302 Conventional 210 11th Avenue North The Preserve ZMX Incorporated Downtown 196 Conventional 911 Perimeter Court Residences at One Paseo Tower 3 SomeraRoad Downtown 396 Conventional 700 Division Street Gulch Edition Tidal Real Estate Partners Downtown 72 Conventional 1101 Grundy Street Trio T2 Capital Management/Hastings Downtown 406 Conventional 621-633 Middleton Street Circle South Willow Bridge Property Company Downtown 261 Conventional 410 8th Avenue South 531 Lafayette EQT Downtown 385 Conventional 531 Lafayette Street Broadmoor at Ellington Parkway Center 615 East Nashville 321 Conventional 272 Broadmoor Drive Dickerson Pike Project Wedgewood Avenue / Beau Fowler East Nashville 260 Conventional 1411 Dickerson Pike
2024 Market Survey
Gulch Tidal Real Estate Partners Downtown 393 Conventional 125 11th Avenue North VeLa Pietown VeLa Development Downtown 411 Conventional 601 Lafayette Street Eleven North Portman Residential Downtown 302 Conventional 210 11th Avenue North The Preserve ZMX Incorporated Downtown 196 Conventional 911 Perimeter Court Residences at One Paseo Tower 3 SomeraRoad Downtown 396 Conventional 700 Division Street Gulch Edition Tidal Real Estate Partners Downtown 72 Conventional 1101 Grundy Street Trio T2 Capital Management/Hastings Downtown 406 Conventional 621-633 Middleton Street Circle South Willow Bridge Property Company Downtown 261 Conventional 410 8th Avenue South 531 Lafayette EQT Downtown 385 Conventional 531 Lafayette Street Broadmoor at Ellington Parkway Center 615 East Nashville 321 Conventional 272 Broadmoor Drive Dickerson Pike Project Wedgewood Avenue / Beau Fowler East Nashville 260 Conventional 1411 Dickerson Pike FREEMAN WEBB COMPANY WWW .FREEMANWEBB .COM Speculation Construction - First Quarter 2024 28,484 Units Name Developer Submarket Units Financing Address Stillmore & Westbrook Project Stillmore & Westbrook Donelson - Hermitage 100 Affordable 1620 - 1634 Lebanon Pike Central Pike South National Healthcare Corp. Donelson - Hermitage 320 Conventional 4214 Central Pike 612 10th Avenue North Boyle / Northwood Ravin Downtown 330 Conventional 612 10th Avenue North Buckingham Companies Project Buckingham Companies Downtown 345 Conventional 701 12th Avenue South LC SoBro, Phase II Lifestyle Communities Downtown 145 Conventional 723 3rd Avenue South Gulch Tidal Real Estate Partners Downtown 393 Conventional 125 11th Avenue North VeLa Pietown VeLa Development Downtown 411 Conventional 601 Lafayette Street Eleven North Portman Residential Downtown 302 Conventional 210 11th Avenue North The Preserve ZMX Incorporated Downtown 196 Conventional 911 Perimeter Court Residences at One Paseo Tower 3 SomeraRoad Downtown 396 Conventional 700 Division Street Gulch Edition Tidal Real Estate Partners Downtown 72 Conventional 1101 Grundy Street Trio T2 Capital Management/Hastings Downtown 406 Conventional 621-633 Middleton Street Circle South Willow Bridge Property Company Downtown 261 Conventional 410 8th Avenue South 531 Lafayette EQT Downtown 385 Conventional 531 Lafayette Street Broadmoor at Ellington Parkway Center 615 East Nashville 321 Conventional 272 Broadmoor Drive Dickerson Pike Project Wedgewood Avenue / Beau Fowler East Nashville 260 Conventional 1411 Dickerson Pike Speculation Construction - First Quarter 2024 28,484 Units Name Developer Submarket Units Financing Address Grove at Meridian Strategic Options International, LLC & Ralph A. Edwards East Nashville 64 Affordable 1705 Luton Street Landings at River North, Phase II MRP Realty East Nashville 433 Conventional 600 Cowan Street Middlestreet Project Middlestreet Partners, LLC East Nashville 225 Conventional 2620 Dickerson Pike Rangewater River North Rangewater East Nashville 353 Conventional 201 Cowan Street Shelby Woods Upside LLC East Nashville 298 Conventional 1409 Davidson Street Woodfield Dickerson Project Woodfield Development East Nashville 286 2600 Dickerson Pike Lincoln Tech Project Southern Land Company East Nashville 800 Conventional 1524 Gallatin Avenue 1601 Broadway Scenic Investments Green Hills - Midtown 440 Conventional 1601 Broadway 2335 Elliston Place Grace Development Green Hills - Midtown 60 Conventional 2335 Elliston Place Voce Hotel and Residences Vastland Companies Green Hills - Midtown 308 Conventional 1719 Hayes Street Beaman Dealership GBT Realty Corp Green Hills - Midtown 420 Conventional 1525 Broadway Civil Site Design Project Civil Site Design Green Hills - Midtown 135 Conventional 1202 16th Avenue South Hill Center Green Hills H.G. Hill Realty Green Hills - Midtown 90 Conventional 2229 Bandywood Drive Jim Reed Hines and Barings LLC Green Hills - Midtown 300 Conventional 1512 Broadway Lion's Head Mixed Use Post Square Shopping Green Hills - Midtown 275 Conventional 21 White Bridge Pike North Point Hospitality North Point Hospitality Green Hills - Midtown 311 Conventional 1901 Church Street Speculation Construction - First Quarter 2024 24,484 Units Name Developer Submarket Units Financing Address Novel Lions Head Stockbridge Real Estate Green Hills - Midtown 300 Conventional 40 White Bridge Pike Piggly Wiggly Site HG Hill/Chartwell Green Hills - Midtown 305 Conventional 2900 West End Avenue Reservoir Regent Partners Green Hills - Midtown 426 Conventional 800 Edgehill Avenue Ridgehouse Capital Project Ridgehouse Capital Green Hills - Midtown 196 Conventional 1107 17th Avenue South Albion Music Row Albion Residential Green Hills - Midtown 870 Conventional 1503 - 1517 McGavock Pike Elliston Place Midtown Willow Bridge Property Company Green Hills - Midtown 300 Conventional 2400 Elliston Place Bosa Towers, Phase I Bosa Properties Green Hills - Midtown 700 Conventional 1401 Church Street Bosa Towers, Phase II Bosa Properties Green Hills - Midtown 650 Conventional 1401 Church Street Belle Meade Plaza AJ Capital Partners Green Hills - Midtown 388 Conventional 4500 Harding Pike The Berry HNP Properties Green Hills - Midtown 60 Conventional 2526 8th Avenue South CA South Project CA South / Belpointe Asset Green Hills - Midtown 252 Conventional 910 8th Avenue South Acklen Park at Hillcrest Place Chartwell Residential Green Hills - Midtown 100 Conventional 106 Acklen Park Drive Vintage Baker Crossing TDK Development Hendersonville - Gallatin 252 Conventional 1459 Tulip Poplar Drive Due West Towers Due West Towers, LLC Madison 198 Conventional 612 West Due West Avenue Key Project Key Real Estate Co. Madison 265 Conventional 1505 Dickerson Pike Hawthorne at Lebanon Evolve Companies Mt. Juliet - Lebanon 264 Conventional 1312 Bartons Creek Road
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 12 Speculation Construction - First Quarter 2024 28,484 Units Name Developer Submarket Units Financing Address Ariza Bellevue Cypressbrook Company Bellevue 417 Conventional 1084 Morton Mill Road Leftbank Bordeaux Left Bank Holdings Bordeaux - Whites Creek 460 Conventional 3709 Clarksville Pike Madison Trinity Madison Capital Group Bordeaux - Whites Creek 300 Conventional 325 West Trinity Lane Orchard Hills Elmington Capital Group Bordeaux - Whites Creek 250 Conventional 3720 Clarksville Pike Talbot's Corner Flats Trinity Lane Development Group Bordeaux - Whites Creek 220 Conventional 329 West Trinity Lane The Cove Cove Residential / Wharton Capital Corporation Bordeaux - Whites Creek 275 Conventional 869 West Trinity Lane Avalon Franklin The Parkes Cos. Inc. Brentwood - Franklin 388 Conventional 1059 Cool Springs Boulevard Guefen Project Origin Capital/Guefen Brentwood - Franklin 271 Conventional 151 Cool Springs Boulevard Bigby Crescent Development Brentwood - Franklin 330 Conventional 100 Resource Parkway East Works District Market Street / Lionstone Investments Brentwood - Franklin 1600 Conventional 9009 Carothers Parkway West Franklin Park Northwood Ravin / Boyle Investments Brentwood - Franklin 480 Conventional 6700 Tower Circle The Middle Eight Truland Development Company Brentwood - Franklin 275 Conventional 209 Old Liberty Pike Poplar Farms Meritage Homes / Signature Homes Brentwood - Franklin 546 Conventional Clovercroft Road/Market Street East Forest Park, III Craighead Development Dickson County 78 Conventional 150 East Forest Park Drive Garton Hill Teekona Group Dickson County 384 Conventional 382 Gum Branch Road Donelson Bowl Project Pizzuti Cos. / Highland Building Group Donelson - Hermitage 154 Conventional 177 Donelson Pike Piggly Wiggly Site HG Hill/Chartwell Green Hills - Midtown 305 Conventional 2900 West End Avenue Reservoir Regent Partners Green Hills - Midtown 426 Conventional 800 Edgehill Avenue Ridgehouse Capital Project Ridgehouse Capital Green Hills - Midtown 196 Conventional 1107 17th Avenue South Albion Music Row Albion Residential Green Hills - Midtown 870 Conventional 1503 - 1517 McGavock Pike Elliston Place Midtown Willow Bridge Property Company Green Hills - Midtown 300 Conventional 2400 Elliston Place Bosa Towers, Phase I Bosa Properties Green Hills - Midtown 700 Conventional 1401 Church Street Bosa Towers, Phase II Bosa Properties Green Hills - Midtown 650 Conventional 1401 Church Street Belle Meade Plaza AJ Capital Partners Green Hills - Midtown 388 Conventional 4500 Harding Pike The Berry HNP Properties Green Hills - Midtown 60 Conventional 2526 8th Avenue South CA South Project CA South / Belpointe Asset Green Hills - Midtown 252 Conventional 910 8th Avenue South Acklen Park at Hillcrest Place Chartwell Residential Green Hills - Midtown 100 Conventional 106 Acklen Park Drive Vintage Baker Crossing TDK Development Hendersonville - Gallatin 252 Conventional 1459 Tulip Poplar Drive Due West Towers Due West Towers, LLC Madison 198 Conventional 612 West Due West Avenue Key Project Key Real Estate Co. Madison 265 Conventional 1505 Dickerson Pike Hawthorne at Lebanon Evolve Companies Mt. Juliet - Lebanon 264 Conventional 1312 Bartons Creek Road Speculation Construction - First Quarter 2024 24,484 Units Name Developer Submarket Units Financing Address South Eastgate John Barnett Mt. Juliet - Lebanon 63 Affordable 170 South Eastgate Court Vintage at Pleasant Grove Imagine 1 Company Mt. Juliet - Lebanon 275 Conventional 555 Pleasant Grove Road Campbell Place D.R. Horton Mt. Juliet - Lebanon 225 Conventional 879 North Castle Heights Avenue Barton Village Suncrest Real Estate & Land Mt. Juliet - Lebanon 744 Conventional Barton's Creek Road/Pinhook Road Providence Central Cumberland Advisors Mt. Juliet - Lebanon 309 Conventional 302 Adams Lane Bell Tower Brenda Niederst Murfreesboro 384 Conventional 2588 New Salem Highway Fountains at Gateway Hearthstone Properties Murfreesboro 100 Conventional 1500 Medical Center Parkway Manchester Springs Crescent Murfreesboro 313 Conventional 3150 Manchester Pike Purlingbrook at Asbury Lane Wynn Berry Murfreesboro 159 Conventional Ashbury Lane Vintage Sterling TDK Development Murfreesboro 274 Conventional Medical Center Parkway 14th Avenue Lofts M Cubed Developments North Nashville 72 Conventional 804 14th Avenue North Samara, Phase II Chartwell Residential North Nashville 375 Conventional 2298 Rosa L. Parks Boulevard Clay Street Commons Bradley Development Group North Nashville 63 Affordable 1928 9th Avenue North Left Bank Project Left Bank Holdings North Nashville 445 Conventional 1301 Herman Street MetroCenter Project Front Street Partners North Nashville 623 Conventional 2833 Clarksville Pike Ridgehouse Project Ridgehouse Capital / Aerial Development North Nashville 220 Conventional 100 Athens Way Speculation Construction - First Quarter 2024 24,484 Units Name Submarket Units Financing Address Brentwood Skyline Mt View LLC South East 195 Conventional 5700 Stone Brook Drive Americas Best Value Inn Site AGB Real Estate South East 131 Affordable 97 Wallace Road 3rd & Mildred Shute Fred Yazdian South Nashville 64 Conventional 1103 3rd Avenue South 6th & Oak Speedwagon Capital Partners South Nashville 145 Conventional 937 6th Avenue South Wedgewood Village AJ Capital Partners South Nashville 343 Conventional 441 Humphreys Street OxenFree WeHo Core Spaces South Nashville 96 Conventional 510 Interstate Boulevard South Fairgrounds Nashville Project Mad Dog Investments/Maples Realty and Auction South Nashville 108 Conventional 1425 4th Avenue South Highlands of Columbia Joey Smith Spring Hill - Columbia 192 Conventional 1875 Monsanto Road Kedron Square, Phase II SR Residential Partners Spring Hill - Columbia 350 Conventional 103 Hubble Circle Stonebridge, Phase II Tennessee Northstar, LLC Spring Hill - Columbia 60 Affordable 100 Stonebridge Way Walker Court, Phase II Blue Grass Development Spring Hill - Columbia 68 Affordable 1900 Archway Drive The Nations Abiete Real Estate West Nashville 300 Conventional 115 Duluth Avenue Camden Nations Camden West Nashville 393 Conventional 1300 51st Avenue North Total Units 28484
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 13 Speculation Construction - First Quarter 2024 28,484 Units Name Developer Submarket Units Financing Address Ariza Bellevue Cypressbrook Company Bellevue 417 Conventional 1084 Morton Mill Road Leftbank Bordeaux Left Bank Holdings Bordeaux - Whites Creek 460 Conventional 3709 Clarksville Pike Madison Trinity Madison Capital Group Bordeaux - Whites Creek 300 Conventional 325 West Trinity Lane Orchard Hills Elmington Capital Group Bordeaux - Whites Creek 250 Conventional 3720 Clarksville Pike Talbot's Corner Flats Trinity Lane Development Group Bordeaux - Whites Creek 220 Conventional 329 West Trinity Lane The Cove Cove Residential / Wharton Capital Corporation Bordeaux - Whites Creek 275 Conventional 869 West Trinity Lane Avalon Franklin The Parkes Cos. Inc. Brentwood - Franklin 388 Conventional 1059 Cool Springs Boulevard Guefen Project Origin Capital/Guefen Brentwood - Franklin 271 Conventional 151 Cool Springs Boulevard Bigby Crescent Development Brentwood - Franklin 330 Conventional 100 Resource Parkway East Works District Market Street / Lionstone Investments Brentwood - Franklin 1600 Conventional 9009 Carothers Parkway West Franklin Park Northwood Ravin / Boyle Investments Brentwood - Franklin 480 Conventional 6700 Tower Circle The Middle Eight Truland Development Company Brentwood - Franklin 275 Conventional 209 Old Liberty Pike Poplar Farms Meritage Homes / Signature Homes Brentwood - Franklin 546 Conventional Clovercroft Road/Market Street East Forest Park, III Craighead Development Dickson County 78 Conventional 150 East Forest Park Drive Garton Hill Teekona Group Dickson County 384 Conventional 382 Gum Branch Road Donelson Bowl Project Pizzuti Cos. / Highland Building Group Donelson - Hermitage 154 Conventional 177 Donelson Pike Name Developer Submarket Units Financing Address Brentwood Skyline Mt View LLC South East 195 Conventional 5700 Stone Brook Drive Americas Best Value Inn Site AGB Real Estate South East 131 Affordable 97 Wallace Road 3rd & Mildred Shute Fred Yazdian South Nashville 64 Conventional 1103 3rd Avenue South 6th & Oak Speedwagon Capital Partners South Nashville 145 Conventional 937 6th Avenue South Wedgewood Village AJ Capital Partners South Nashville 343 Conventional 441 Humphreys Street OxenFree WeHo Core Spaces South Nashville 96 Conventional 510 Interstate Boulevard South Fairgrounds Nashville Project Mad Dog Investments/Maples Realty and Auction South Nashville 108 Conventional 1425 4th Avenue South Highlands of Columbia Joey Smith Spring Hill - Columbia 192 Conventional 1875 Monsanto Road Kedron Square, Phase II SR Residential Partners Spring Hill - Columbia 350 Conventional 103 Hubble Circle Stonebridge, Phase II Tennessee Northstar, LLC Spring Hill - Columbia 60 Affordable 100 Stonebridge Way Walker Court, Phase II Blue Grass Development Spring Hill - Columbia 68 Affordable 1900 Archway Drive The Nations Abiete Real Estate West Nashville 300 Conventional 115 Duluth Avenue Camden Nations Camden West Nashville 393 Conventional 1300 51st Avenue North Total Units 28484
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 14 Formally Lincoln Property Company Locally Rooted, Nationally Respected 555 Marriott Drive, Suite 325 | Nashville, TN 37214 | 615-840-6684 GNAA Market Survey_Ad.pdf 1 11/20/23 3:12 PM Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location The Crossings Middle Street Partners, LLC Antioch - Priest Lake 320 Conventional Lease-up 2nd qtr 24 5590 Crossings Boulevard Madison Century Farms Madison Capital Group Antioch - Priest Lake 266 Conventional Construction 4th qtr 24 4101 William Turner Parkway Hickory Highlands Shelton McNally Antioch - Priest Lake 186 Conventional Lease-up 2nd qtr 24 1421 Rural Hill Road Ascent Pedcor Companies Bordeaux - Whites Creek 336 Affordable Construction 4th qtr 24 2900 Brick Church Pike Livano Trinity LIV Development Bordeaux - Whites Creek 325 Conventional Lease-up 2nd qtr 24 819 West Trinity Lane Legacy Cool Springs Goldberg Companies, Inc. (GCI) Brentwood - Franklin 426 Conventional Lease-up 2nd qtr 24 1343 Huffine Ridge Drive McEwen Northside, Phase II Northwood Ravin & Boyle Investments Brentwood - Franklin 430 Conventional Lease-up 2nd qtr 24 4015 Aspen Grove Drive Sanctuary Bluff Apartments Neyland Associates Brentwood - Franklin 264 Conventional Construction 3rd qtr 24 2501 New Port Royal Road Heron Pointe, Phase II R.E. Carroll Donelson - Hermitage 128 Conventional Construction 4th qrt 24 100 Heron Pointe Drive The Percy Varden Capital / Commerce Center TN Land LP Donelson - Hermitage 318 Conventional Lease-up 2nd qtr 24 600 Stewarts Ferry Pike Modera McGavock Mill Creek Residential Downtown 400 Conventional Construction 4th qtr 24 1212 McGavock Street Modera SoBro Mill Creek Residential Downtown 404 Conventional Construction 1st qtr 25 825 6th Avenue South Paseo South Gulch Tower 2 Somera Road Downtown 328 Conventional Site Prep 2nd qtr 25 625 8th Avenue South PDP Project Proffitt Dixon Partners Downtown 339 Conventional Site Prep 1st qtr 25 900 2nd Avenue North Peabody Union, Phase II The Congress Group Downtown 310 Conventional Construction 2nd qtr 24 30 Peabody Street Prima at Paseo South Gulch Tower SomeraRoad Downtown 278 Conventional Lease-up 2nd qtr 24 620 8th Avenue South Prime Giarratana Development Downtown 350 Conventional Construction 2nd qtr 24 801 Church Street Society Nashville Property Markets Group (PMG) Downtown 471 Conventional Construction 4th qtr 24 915 Division Street Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location The Starling Portman Residential Downtown 285 Conventional Lease-up 3rd qtr 24 820 4th Avenue North Camden Gulch Camden Property Trust Downtown 481 Conventional Site Prep 2nd qtr 25 909 Division Street Second Avenue Gateway Woodfield Development Downtown 433 Conventional Construction 3rd qtr 25 805 President Ronald Regan Way YMCA Giarratana Development Downtown 500 Conventional Site Prep 2nd qtr 25 1000 Church Street The Everett and The Emory Southwest Value Partners/Streetlights Residential Downtown 650 Conventional Contrusction 2nd qtr 25 1001 Church Street 900 at Cleveland Park Dominiumn East Nashville 255 Affordable Lease-up 2nd qtr 24 900 Dickerson Pike Oxbow Creek Lane Capital & MRP Realty East Nashville 296 Conventional Construction 3rd qtr 24 2141 Waterside Drive The Lucile Bristol Development Group East Nashville 221 Conventional Lease-up 2nd qtr 24 55 Lucile Street Riverchase Project - Affordable CRE Advisors/Holladay Ventures East Nashville 225 Affordable Site Prep 1st qtr 25 590 Joseph Street Wayward MRP Realty East Nashville 355 Conventional Construction 3rd qtr 24 2135 Waterside Drive Station by Alta Wood Partners East Nashville 302 Conventional Construction 3rd qtr 24 900 East Trinity Lane Aspire Midtown AI Neyer/Dinerstein Green Hills - Midtown 277 Conventional Construction 2nd qtr 24 1801 Patterson Street Rossett Brookside Properties/Transwestern Green Hills - Midtown 264 Conventional Construction 3rd qtr 24 4100 Hillsboro Pike The Gupton Chartwell Residential Green Hills - Midtown 305 Conventional Site Prep 4th qtr 24 1601 State Street Haven at Charlotte Guefen Development Partners Green Hills - Midtown 369 Conventional Construction 2nd qtr 24 3025 Charlotte Avenue 1711 Broadway LG Development Green Hills - Midtown 396 Conventional Site Prep 4th qtr 24 1711 Broadway 19th & Church Ascend Real Estate Group Green Hills - Midtown 383 Conventional Site Prep 4th qtr 25 1805 Church Street Grace at Elliston Grace Development Green Hills - Midtown 300 Conventional Site Prep 2nd qtr 25 2305 Elliston Place Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location Rock Block Flats Ridgefield/Giarratana Development Green Hills - Midtown 90 Conventional Construction 2nd qtr 24 2205 Elliston Place Signature Music Row The Preiss Company Green Hills - Midtown 105 Conventional Lease-up 2nd qtr 24 1001 16th Avenue South Reservoir Zone 6 Multifamily Park at Hillside LLC Green Hills - Midtown 311 Conventional Site Prep 1st qtr 25 1430 Hillside Avenue LOCAL Nashville Subtext Green Hills - Midtown 307 Conventional Construction 4th qtr 24 1914 Hayes Street Chandler Market Place Kimley-Horn Hendersonville - Gallatin 266 Conventional Site Prep 4th qtr 24 GreenLea Boulevard Statler McCain Station Embry Partners, Ltd. Hendersonville - Gallatin 297 Conventional Lease-up 3rd qtr 24 3396 Provine Boulevard Hickory at Indian Lake Village Al Neyer Hendersonville - Gallatin 212 Conventional Construction 3rd qtr 24 257 Indian Lake Boulevard Banner at Westfield Southeastern Building Corporation Hendersonville - Gallatin 284 Conventional Lease-up 3rd qtr 24 113 Weller Lane Greenlea Chartwell Residential Hendersonville - Gallatin 528 Conventional Consturction 1st qtr 25 300 Harris Lane Northerly Origin Investments/ZMX Madison 297 Conventional Lease-up 3rd qtr 24 620 Due West Avenue Stone Bridge Lofts Holladay Ventures Madison 311 Affordable Construction 2nd qtr 24 619 North Main Street Vintage NorthCreek, Phase II TDK Development Madison 76 Conventional Construction 2nd qtr 24 155 Northcreek Boulevard Birchway Rivergate Greystar Real Estate Partners Madison 384 Conventional Lease-up 2nd qtr 24 110 One Mile Parkway Gallatin Pike Project Greystar Madison 292 Conventional Site Prep 2nd qtr 25 1425 Gallatin Pike Birchstone Village Trent Development Group Madison 228 Affordable Construction 2nd qtr 24 616 North Dupont Avenue Hathaway at Lebanon Gross Builders Mt. Juliet - Lebanon 492 Conventional Lease-up 4th qtr 24 2135 Lebanon Road Reunion Township MRC Development Mt. Juliet - Lebanon 254 Conventional Construction 4th qtr 24 6715 Lebanon Road Urban Silos JCF Lebanon Mt. Juliet - Lebanon 216 Conventional Lease-up 2nd qtr 24 6890 Franklin Road
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 15 Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location Rock Block Flats Ridgefield/Giarratana Development Green Hills - Midtown 90 Conventional Construction 2nd qtr 24 2205 Elliston Place Signature Music Row The Preiss Company Green Hills - Midtown 105 Conventional Lease-up 2nd qtr 24 1001 16th Avenue South Reservoir Zone 6 Multifamily Park at Hillside LLC Green Hills - Midtown 311 Conventional Site Prep 1st qtr 25 1430 Hillside Avenue LOCAL Nashville Subtext Green Hills - Midtown 307 Conventional Construction 4th qtr 24 1914 Hayes Street Chandler Market Place Kimley-Horn Hendersonville - Gallatin 266 Conventional Site Prep 4th qtr 24 GreenLea Boulevard Statler McCain Station Embry Partners, Ltd. Hendersonville - Gallatin 297 Conventional Lease-up 3rd qtr 24 3396 Provine Boulevard Hickory at Indian Lake Village Al Neyer Hendersonville - Gallatin 212 Conventional Construction 3rd qtr 24 257 Indian Lake Boulevard Banner at Westfield Southeastern Building Corporation Hendersonville - Gallatin 284 Conventional Lease-up 3rd qtr 24 113 Weller Lane Greenlea Chartwell Residential Hendersonville - Gallatin 528 Conventional Consturction 1st qtr 25 300 Harris Lane Northerly Origin Investments/ZMX Madison 297 Conventional Lease-up 3rd qtr 24 620 Due West Avenue Stone Bridge Lofts Holladay Ventures Madison 311 Affordable Construction 2nd qtr 24 619 North Main Street Vintage NorthCreek, Phase II TDK Development Madison 76 Conventional Construction 2nd qtr 24 155 Northcreek Boulevard Birchway Rivergate Greystar Real Estate Partners Madison 384 Conventional Lease-up 2nd qtr 24 110 One Mile Parkway Gallatin Pike Project Greystar Madison 292 Conventional Site Prep 2nd qtr 25 1425 Gallatin Pike Birchstone Village Trent Development Group Madison 228 Affordable Construction 2nd qtr 24 616 North Dupont Avenue Hathaway at Lebanon Gross Builders Mt. Juliet - Lebanon 492 Conventional Lease-up 4th qtr 24 2135 Lebanon Road Reunion Township MRC Development Mt. Juliet - Lebanon 254 Conventional Construction 4th qtr 24 6715 Lebanon Road Urban Silos JCF Lebanon Mt. Juliet - Lebanon 216 Conventional Lease-up 1st qtr 24 6890 Franklin Road Signature Music Row The Preiss Company Green Hills - Midtown 105 Conventional Lease-up 2nd qtr 24 1001 16th Avenue South Reservoir Zone 6 Multifamily Park at Hillside LLC Green Hills - Midtown 311 Conventional Site Prep 1st qtr 25 1430 Hillside Avenue LOCAL Nashville Subtext Green Hills - Midtown 307 Conventional Construction 4th qtr 24 1914 Hayes Street Chandler Market Place Kimley-Horn Hendersonville - Gallatin 266 Conventional Site Prep 4th qtr 24 GreenLea Boulevard Statler McCain Station Embry Partners, Ltd. Hendersonville - Gallatin 297 Conventional Lease-up 3rd qtr 24 3396 Provine Boulevard Hickory at Indian Lake Village Al Neyer Hendersonville - Gallatin 212 Conventional Construction 3rd qtr 24 257 Indian Lake Boulevard Banner at Westfield Southeastern Building Corporation Hendersonville - Gallatin 284 Conventional Lease-up 3rd qtr 24 113 Weller Lane Greenlea Chartwell Residential Hendersonville - Gallatin 528 Conventional Consturction 1st qtr 25 300 Harris Lane Northerly Origin Investments/ZMX Madison 297 Conventional Lease-up 3rd qtr 24 620 Due West Avenue Stone Bridge Lofts Holladay Ventures Madison 311 Affordable Construction 2nd qtr 24 619 North Main Street Vintage NorthCreek, Phase II TDK Development Madison 76 Conventional Construction 2nd qtr 24 155 Northcreek Boulevard Birchway Rivergate Greystar Real Estate Partners Madison 384 Conventional Lease-up 2nd qtr 24 110 One Mile Parkway Gallatin Pike Project Greystar Madison 292 Conventional Site Prep 2nd qtr 25 1425 Gallatin Pike Birchstone Village Trent Development Group Madison 228 Affordable Construction 2nd qtr 24 616 North Dupont Avenue Hathaway at Lebanon Gross Builders Mt. Juliet - Lebanon 492 Conventional Lease-up 4th qtr 24 2135 Lebanon Road Reunion Township MRC Development Mt. Juliet - Lebanon 254 Conventional Construction 4th qtr 24 6715 Lebanon Road Urban Silos JCF Lebanon Mt. Juliet - Lebanon 216 Conventional Lease-up 2nd qtr 24 6890 Franklin Road Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location Limestone Trail Limestone Trail Apts LP Mt. Juliet - Lebanon 190 Conventional Construction 2nd qtr 24 1416 Alhambra Drive Clari Park Hines Development Murfreesboro 300 Conventional Construction 4th qtr 24 Medical Center Parkway 2nd & Van Buren Toll Brothers Apartment Living North Nashville 303 Conventional Site Prep 4th qtr 24 100 Van Buren Street Artist Lofts Greenpointe North Nashville 210 Conventional Site Prep 4th qtr 24 1231 2nd Avenue North Chartwell at Marathon Chartwell Residential North Nashville 388 Conventional Construction 2nd qtr 24 801 12th Avenue North Samara, Phase I Chartwell Residential North Nashville 377 Conventional Construction 2nd qtr 24 550 Great Circle Road The Scottie Rangewater North Nashville 320 Conventional Construction 2nd qtr 24 806 16th Avenue North Modera Riverview Mill Creek Residential North Nashville 400 Conventional Construction 4th qtr 24 1420 Adams Street Nashville Block 5 New City Properties North Nashville 320 Conventional Construction 2nd qtr 24 1324 Second Avenue North Neuhoff JP Morgan North Nashville 547 Conventional Lease-up 2nd qtr 24 1316 Adams Street Soundwater, Phase II Southeastern Ventures North Nashville 146 Conventional Lease-up 2nd qtr 25 341 Great Circle Road Duke Metro Center The Giddings Group North Nashville 194 Conventional Lease up 2nd qtr 24 131 Great Circle Road Dickerson Flats Woodbine Parkwood - Union Hill 167 Affordable Construction 2nd qtr 24 3551 Dickerson Pike Vintage Stonetrace TDK Development Smyrna - LaVergne 325 Conventional Construction 4th qtr 24 4000 White Birch Avenue Marlowe Smyrna Greystar Smyrna - LaVergne 350 Conventional Site Prep 4th qtr 25 2001 Motlowe college blvd Century South Carroll Co. South East 350 Conventional Site Prep 2nd qtr 25 3100 Old Franklin Road Southcrest Reserve GBT Realty South East 108 Conventional Construction 2nd qtr 24 6961 Nolensville Pike 101 Factory Elmington Capital Group South Nashville 204 Affordable Construction 2nd qtr 24 101 Factory Street Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location Alto 615 Hermel Surati / Alto Partners, LLC South Nashville 102 Conventional Construction 2nd qtr 24 447 Murfreesboro Pike Broadstone Berry Hill Alliance Residential Company South Nashville 302 Conventional Lease-up 2nd qtr 24 2500 Bransford Avenue Emblem Park SomeraRoad / Bridge Investment Group South Nashville 346 Conventional Construction 3rd qtr 24 1414 4th Avenue South Park Commons - Affordable MarketStreet Enterprises South Nashville 160 Affordable Construction 3rd qtr 24 300 Rains Avenue Park Commons- Conventional MarketStreet Enterprises South Nashville 177 Conventional Construction 3rd qtr 24 300 Rains Avenue Memoir Wedgewood Houston AJ Capital Partners South Nashville 273 Conventional Lease-up 2nd qtr 24 1125 4th Avenue South Nashville Warehouse Co. AJ Capital Partners South Nashville 360 Conventional Construction 2nd qtr 24 1131 4th Avenue South Residences at The Finery Hines Development South Nashville 383 Conventional Lease-up 2nd qtr 24 622 Merritt Avenue The Coda Apartments Ridgehouse Companies South Nashville 150 Conventional Construction 2nd qtr 24 661 Wedgewood Avenue Alta City Wood Partners South Nashville 256 Conventional Construction 3rd qtr 24 1301 Lebanon Pike Westerly House Atlas Real Estate Partners South Nashville 246 Conventional Construction 4th qtr 24 700 Hamilton Avenue Solstice at June Lake Southeast Venture / Alexander Spring Hill - Columbia 460 Conventional Site Prep 1st qtr 25 2660 Buckner Lane Kedron Square Phase l Chartwell Spring Hill - Columbia 292 Conventional Construction 3rd qtr 24 5426 Main Street Hathaway at Kingsley Gross Builders Spring Hill - Columbia 396 Conventional Construction 2nd qtr 25 33 Hathaway Boulevard The Drake Columbia Bristol Developers Spring Hill - Columbia 293 Conventional Site Prep 3rd qtr 26 Woodland and East 7th The Rye on Charlotte Price Development Group West Nashville 322 Conventional Lease-up 2nd qtr 24 3800 Charlotte Avenue Livano Nations Liv Development West Nashville 309 Conventional Lease-up 4th qtr 24 4000 Walter S. Davis Boulevard The Reeve CA South West Nashville 111 Conventional Lease-up 2nd qtr 24 405 40th Avenue Construction Underway Through First Quarter 2024 27,263 Units Name Developer Submarket Units Financing Status Projected Complete Location * Properties are sorted by submarket Total Units 27,263
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 16 FOrget the ordinary. EXPECT EXTRAORDINARY. 615.490.6700 elmingtonpm.com 40K+ UNITS 900 TEAM MEMBERS 14 STATES | 250+ PROPERTIES WITH UNBEATABLE EXPERIENCE Construction Completed Through First Quarter 2024 1,271 Units Property Developer Submarket Units Financing Status Complete Address Shelby House Phase l Evergreen RE, Holladay Ventures, Samaritan East Nashville 195 Affordable Complete 1st qtr 24 407 South 4th Street Residences at Ironwood Pedcor Companies Mt. Juliet - Lebanon 186 Affordable Complete 1st qtr 24 415 Rome Pike Vintage Edge TDK Development South East 191 Conventional Complete 1st qtr 24 5833 Nolensville Pike Crest at Burkitt Ridge, Phase ll Regent Homes South East 110 Conventional Complete 1st qtr 24 6944 Burkitt Road Mainstead at Century Farms Oxford Development Company South East 332 Conventional Complete 1st qtr 24 2141 Century Farms Views of Music City Phase ll Ramston Capital South East 209 Conventional Complete 1st qtr 24 6210 Nolensville Pike The Retreat at Arden Village lll Regent Homes Spring Hill - Columbia 48 Conventional Complete 1st qtr 24 2474 Palomar Circle Total Units 1,271
2024 Market Survey
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 17 0 2,000 4,000 6,000 8,000 10,000 12,000 2019 2020 2021 2022 2023 2024 5,188 6,544 6,266 6,544 10,955 1,271 Number of Units Completed Construction by Year Units Completed
2024 Market Survey
Apartment Sales Through First Quarter 2024
©2024 Greater Nashville Apartment Association. All Rights Reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the written permission of the Greater Nashville Apartment Association. Information deemed reliable but not guaranteed. 18 1,339 Total Units Property Buyer Closing Date Submarket Year Built Number of Units Sale Price Price / Unit Newport Fairfield Residential Mar-24 Antioch-Priest Lake 1985 235 29,024,000.00 $ 150,000.00 $ Priest Lake Apartments Fairfield Residential Mar-24 Donelson 1985 300 45,019,000.00 $ 150,633.00 $ Peyton Stakes Phoenix Realty Group/Ditmas Management Jan-24 North Nashville 2017 249 78,000,000.00 $ 313,253.00 $ Timberlake Village Apartments LLC Mar-24 South East 1986 252 34,025,000.00 $ 135,900.00 $ City Side Flats Fairfield Residential Mar-24 South Nashville 1973 201 27,008,000.00 $ 150,000.00 $ Park West at Hillwood LLC Dec-23 West Nashville 1973 102 19,065,000.00 $ 192,650.00 $ Totals and Averages 1,339 232,141,000 $ 173,369 $
Park West at Hillwood LLc Dec-23 West Nashville 1973 102 19,065,000.00 $ 192,650.00 $ Timberlake Village Apartments LLC Mar-24 South East 1986 252 34,025,000.00 $ 135,900.00 $ Priest Lake Apartments Fairfield Residential Mar-24 Donelson 1985 300 45,019,000.00 $ 150,633.00 $ Newport Fairfield Residential Mar-24 Antioch-Priest Lake 1985 235 29,024,000.00 $ 150,000.00 $ City Side Flats Fairfield Residential Mar-24 South Nashville 1973 201 27,008,000.00 $ 150,000.00 $ Peyton Stakes Phoenix Realty Group/Ditmas Management Jan-24 North Nashville 2017 249 78,000,000.00 $ 313,253.00 $ Totals and Averages 1,339 232,141,000 $ 173,369 $