Turnberry is gearing up for another hotel development in downtown Nashville.
The Florida-based firm, headed by CEO Jackie Soffer, wants to build a 39-story St. Regis hotel and condominium tower, next to the JW Marriott that it built in 2018, the Nashville Business Journal reported.
The 740,000-square-foot development, dually named St. Regis Nashville and the Residences at the St. Regis, will feature 177 hotel rooms and 111 condos. It will include an upscale restaurant, a lobby bar, full-service spa and two amenity decks. Construction is expected to begin in 2025.
The project continues Turnberry’s partnership with the Marriott brand and further solidifies downtown Nashville as a hotbed for luxury hotel developments.
The St. Regis will rise on a two-parcel site along 8th Avenue, which Turnberry bought for $28 million in 2015. The JW Marriott takes up about 75 percent of the site, and the St. Regis will occupy a little less than an acre.
Turnberry wanted to build a pure condo tower next to the JW Marriott and later proposed a 400,000-square-foot office building. Charlotte-based Crescent Communities was in line to buy the property, with plans for a 35-story apartment tower, but Turnberry scrapped that deal in 2016.
The $250 million JW Marriott is Nashville’s fifth-largest hotel, the outlet said. It stands 33 stories and has 533 rooms. Turnberry has been active in Nashville since 1999, having also developed the Hilton Downtown Nashville and renovated the Union Station Hotel.
As the hospitality sector continues to bounce back from the pandemic, which diminished downtown foot traffic and leisure travel across much of the nation, hotel investors and developers are flocking to the Music City.
In June, Bill Gates’ Cascade Investment paid $83 million for the 168-room Dream Hotel in downtown Nashville. Within the past few months, New York City-based Dreamscape Companies bought the historic Holston House hotel for just over $60 million, and an Atlanta-based hospitality firm paid $82 million for downtown’s Holiday Inn Express.
Country music legend Dolly Parton also got into the Nashville hotel game recently. Her company acquired the 211 Commerce office building, with plans to convert the downtown property into a hotel.
—Quinn Donoghue
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