Ritz-Carlton Nashville Advances With New Location, Developers

The stalled $720 million Ritz-Carlton Nashville development is getting a second life, with a new location and local developers.

Marriott International dropped Tim Morris and M2 Development Partners’ plans for a two-tower luxury hotel and residences complex in SoBro and is instead pursuing a Gulch location with MarketStreet Enterprises and Corner Partnership, the Nashville Business Journal reported. Neither developer confirmed involvement in the new Ritz-Carlton deal, but Marriott’s chief development officer said an announcement is coming soon.

The luxury hotel brand has its eye on the Bohan Building site at 124 12th Avenue South, across from the Gulch Union development and a block from the W Hotel.

The 1.14-acre property has been owned by MarketStreet since 2000, and the firm recently relocated its own offices from the building, a possible signal of incoming change.

Corner Partnership previously partnered with Marriott on the Gulch’s W Hotel. That project opened in 2021 and included developers Magellan Development Group and Hospitality Gaming Advisors.

The change of plans follows years of turbulence for M2 and its founder, Tim Morris. His original proposal called for a 46-story tower with 242 hotel rooms and 165 condos four years ago, along with a second 32-story apartment building.

But the project was plagued by financial woes, culminating in a foreclosure sale of the land in April. That followed a default judgment in a separate lawsuit over a $10 million loan.

With M2 out and MarketStreet and Corner in, the luxury hotel brand is joining a crowded but competitive field in the Gulch, which also includes the Westin, Thompson Hotel and the Four Seasons, which opened in 2023.

Other hotel projects in the pipeline in the Gulch include Pendry’s hotel and residential development in SomeraRoad’s Paseo South Gulch project and Florida-based Turnberry’s 39-story St. Regis hotel and condominium tower.

— Judah Duke