Midtown site eyed for apartment building sells for $9.47M

By William Williams
Nashville Post
May 12, 2022
Original Article posted here.

Nashville-based development company Chartwell Residential has paid $9,475,000 for Midtown property on which it is eyeing a 14-story apartment building, according to a Davidson County Register of Deeds document.

The seven-parcel property on which the residential building will rise offers addresses of 1601-1609-1611-1615-1617-1621-1623 State St. The parcels offer a collective 1.52 acres. A two-story modernist residential building located at 1609 State St. and once home to the Gupton residential program will need to be demolished.

John A. Gupton College was the seller. That entity purchased the properties at various times from 1991 to 2018 for a collective approximately $2.66 million. The college, which was founded in 1946 and focuses on mortuary sciences, operates from a building located at 1616 Church St. and is expected to continue operations.

Of note, Chartwell is underway in Marathon Village on mixed-used building The Chartwell at Marathon (read more here).

Ben Schaedle, Chartwell partner, said the company is targeting a year’s end groundbreaking for the State Street building, with a working name of The Gupton. Dallas-based JHP Architects is designing the 305-unit apartment building.

Amenities will include a pool on the 13th floor, a fitness center with dedicated outdoor fitness area, a lounge and a clubroom/game room.

“Chartwell Residential is pleased to announce the purchase [of] land for our upcoming high-rise residential project located in Midtown,” Schaedle said, adding the construction of the tower should be completed in late 2024.

Across State Street, South Carolina-based Woodfield Development continues the development of a site with a two-building residential project to offer a collective 292 units (read here).

Featured images above and below show renderings of future Midtown apartment by Chartwell Residential coming 2024.