Trei Real Estate GmbH (“Trei”), an international developer and property asset holder for residential and retail real estate, has commenced construction of its third residential project in the United States. The property is located in Wedgewood-Houston, a neighborhood in central Nashville, and represents Trei’s first development in Tennessee.
On a plot of land of approximately 10,000 square metres, three- and four-story buildings will include 221 residential units totaling approximately 16,100 square metres. The investment volume totals 53 million euros. Construction started in July 2021 and completion is expected in 2023.
Locally, Trei continues its existing partnership with Proffitt Dixon Partners for this project. An investment and development company focusing on high-end multi-family houses in the south-eastern United States, Proffitt Dixon Partners already acts as Trei’s local partner for two other projects in Charlotte, North Carolina. Amenities at the Wedgewood-Houston project will include a rooftop music studio, saltwater pool, fitness centre, dog park, private workspaces, and roof terrace with downtown skyline views. The project will also include a ground floor restaurant with a rooftop terrace bar.
Downtown Nashville and the famous Broadway entertainment district lie only a short drive away from the property by car and within easy reach by bicycle or scooter. Nashville is the state capital of Tennessee and the centre of the Nashville Metropolitan Area, which is the largest metro region in the state, with a population of 1.7 million. As the hub of country music, the “Music City” is home to many record labels, and is considered one of the biggest centres of the US music business in general.
The project in Nashville represents Trei’s third development currently under construction in the United States. In Charlotte, North Carolina, construction of a 359-unit community is nearly complete and currently in lease-up. In Mount Pleasant, a suburb of Charleston, South Carolina, construction of a 224-unit project is underway with initial deliveries expected late 2021 and completion in 2022.
Image rights:Trei Real Estate. Source : Trei Real Estate