Mixed-use project planned for WeHo Nashville

Published April 17, 2020 by William Williams

A Charlotte-based company that undertook its first local project in Germantown is eyeing a mixed-use development for Wedgewood-Houston as its second.

Proffitt Dixon Partners is targeting a first-quarter 2021 groundbreaking for the project, which will have 220 residences and some retail space in three buildings. Tentatively called Hagan & Hamilton, the development’s restaurant space would be located in a building facing both Hamilton Avenue and Hagan Street (and offering residential), while two residential-only buildings would address both Hagan and Moore Avenue. The main address is 625 Hamilton Ave.

Hagan & Hamilton would offer nine live-work units, with five in one of the residential-only buildings and four in the other such structure. Amenities would include a swimming pool, a club room, various patios and private outdoor space, and fitness center, among others.

Proffitt Dixon has the property under contract with a limited partnership that also owns the business on the site (Queen’s Tree Surgery, which will relocate) and hopes to close on the purchase in early January.

“We believe Wedgewood-Houston is one of Nashville’s great walkable neighborhoods,” Stuart Proffitt, company co-founding partner, told the Post.

Proffitt Dixon has enlisted Civil Site Design Group (engineering and land planning), EOA Architects and Hawkins Partners (landscape architects). Each is locally based.

The team will go before the Metro Planning Commission on Thursday, May 28, to seek a specific plan rezoning.

No detailed image has been finalized and the company is not disclosing the roughly estimated cost to undertake the project, Proffitt said.

The planned project has evolved since early 2019. At that time, Proffitt Dixon began discussions with Wedgewood-Houston-based Manuel Zeitlin Architects. Months into the process, the Metro Planning Department undertook a neighborhood study. Late last October, the Metro Planning Commission approved the Wedgewood-Houston and Chestnut Hill Planning Study. 

“Manuel Zeitlin Architects and EOA Architects teamed up with us to craft a wonderful project that conforms to the vision outlined in the … study,” Proffitt said. “Wedgewood-Houston has long been a well-organized neighborhood with SNAP (South Nashville Action People) and CONVERGE (an arts organization) neighborhood groups that created a forum for neighborhood input into the plan.”

Of note, Proffitt Dixon developed the Germantown site home to apartment building Peyton Stakes, which it still owns via an LLC.

https://www.nashvillepost.com/business/development/article/21128945/mixeduse-project-planned-for-weho

Providence Road site sells to local developer for senior-housing project

A group of eight owners sold a 20.5-acre property on Providence Road, which will soon be redeveloped for senior housing.

Charlotte-based Proffitt Dixon Partners recently acquired the property, on the west side of Providence and north of Lynbridge Road, for nearly $11.2 million. The land today includes some single-family homes but, with a rezoning petition by Proffitt Dixon approved by Charlotte City Council last month, the property can now be developed with higher-density housing.

Wyatt Dixon, managing principal at Proffitt Dixon Partners, said Wednesday the site will be developed with the firm's first active-adult community. Proffitt Dixon is best known for developing market-rate, non-age-restricted apartment projects, such as Savoy in uptown, which it finished last year.

Dixon said the firm several years ago identified an "opportunity" in the active-adult sector, housing that's reserved for those aged 55 and older but is not a traditional retirement community. The Providence Road site and another property in Matthews will be the company's first age-restricted housing developments.

In fact, many in real estate are seeking to enter the senior-housing industry because of dramatic population trends that will impact not only Charlotte but cities across the U.S. With the large boomer population now entering — or already in — retirement, it's expected that the number of seniors will soon outnumber most every other age group.

The rezoning for the Providence Road property was extensive, and Dixon said the company met with neighbors more than two dozen times to address issues that came up during the process. The plan approved by City Council last month allows up to 200 active-adult housing units and, separately, up to 41 townhouses or stacked flats.

Dixon said the site will be developed in phases, with the first age-restricted housing phase starting by mid-summer. Timing of any future phases, including the potential for townhouses or additional active-adult retirement homes, is still being worked out.

"It’s certainly a rare and unique development opportunity in an established neighborhood, along a well-traveled corridor — so, to say the least, we feel a tremendous amount of pressure to get it right," Dixon said.

John Vickers, Adam Travers and Dorsey Allison with KW Commercial represented the sellers in the transaction.

Two apartment properties trade hands on uptown's booming Stonewall Street

Two apartment communities along the seemingly endless boom of Stonewall Street in uptown are under new ownership after recent deals have closed.

Novel Stonewall Station and Presley Uptown sold for $171 million and $55.3 million, respectively, according to Mecklenburg County real estate records. Charlotte-based LMC acquired the 459-unit Novel Stonewall Station, at Stonewall and Caldwell streets. JLL Income Property Trust and Penler, a relatively new multifamily investment and development group based in Atlanta, purchased Presley Uptown, which includes 230 apartments at McDowell and Stonewall streets.

Presley Uptown was developed and sold by local developer Proffitt Dixon Partners, which began delivering units at Presley a few years ago — the first of two Stonewall corridor projects for the developer.

Penler said it planned to refresh some common areas of the property in the coming year, with future updates to include smart-home technology throughout the property. Penler and JLL paid about $240,000 per unit at Presley.

Graham Carpenter, managing partner at Penler, said in a statement that the Presley acquisition is a prime example of the firm's strategy to acquire "well-located, infill projects in high-growth Southeastern markets at an attractive cost basis."

Allan Swaringen, president and CEO of JLL Income Property Trust, said in a statement that the Presley acquisition brings the company's apartment allocation to more than $950 million and 3,600-plus units.

Both of the properties sold last week were developed as a result of surplus land after the $21 million reconstruction of Interstate 277 and the South Caldwell Street interchange. The city sold the excess parcels to several real estate developers that ultimately built hundreds of apartments, for-rent townhouses and retail space, including uptown's first full-service grocery store. Crescent acquired its piece for more than $10 million while Proffitt Dixon Partners paid $3.8 million for the land where Presley Uptown is today.

Ellison on Broad multifamily project set for 2017 completion

Construction continues on the new luxury apartment complex at Church and Broad streets in Greenville, with the first units slated to be available this winter.

The multifamily development was formerly called Fountains Greenville, but that was just a working name for the project, said Stuart Proffitt, managing principal with Proffitt Dixon Partners, a Charlotte-based multifamily investment and development firm. The new name is Ellison on Broad, in honor of a pioneer of Greenville’s textile industry.

The five-story complex is one large building and will consist of 201 units with 147 one-bedroom and 54 two-bedroom units. The community will feature a resort-style saltwater pool, private courtyards, outdoor grills and TV, kayak storage, commercial-quality fitness center, upscale club areas and a rooftop deck. It will also have convenient access to the GHS Swamp Rabbit Trail.

“We have upgraded our already luxury features of the units to include even more comforts, such as roll shades on the windows, apron-front stainless steel sinks and custom closet shelving with chrome poles,” said Proffitt.

Community events, activities and programming will be a real draw and is what will set the project apart from others downtown, he said. “Also, the walkability to so many jobs and to Main Street will be a big selling point.”

Rental rates have not yet been determined but “will be consistent with other new projects walkable to Main Street retail, restaurants and office buildings,” said Proffitt. Units will be ready for move-in in the fourth quarter of this year, and construction is expected to be complete by the first quarter of 2017.

For more information, visit facebook.com/Ellison-on-Broad.

http://upstatebusinessjournal.com/news/ellison-on-broad-multifamily-project-set-for-2017-completion/

Greenville; Multifamily Development is Firm's First in S.C.

May 20, 2015: GREENVILLE, SC - Proffitt Dixon Partners is preparing to build its first luxury apartment community in Greenville, S.C. The Charlotte-based firm plans to break ground this month on a 201-unit luxury multifamily development at 210 East Broad Street. 

The five-story community will be built on 2.45 acres at the intersection of S. Church St. and East Broad Street. The location is a five-minute walk from Main Street in Greenville’s the Central Business District, which has the largest concentration of employment in the state.

“Greenville is the economic engine of South Carolina,” said Managing Principal Wyatt Dixon. “This is a great opportunity to bring the luxury apartment lifestyle to one of the country’s fastest-growing cities.”

“The area has exactly what we look for, which is a walkable area near jobs, restaurants, entertainment and greenspaces,” added Managing Principal Stuart Proffitt. “As with our other communities, we will follow green building practices, and choose energy-saving appliances and features.”

Fountains Greenville is close to Falls Park on the Reedy, Centre Stage Theater, Peace Center for the Performing Arts, the county Art Museum and private art galleries. It also has convenient access to the Swamp Rabbit Trail, a pedestrian and bike path. The community will have the type of clubhouse, courtyards, pool and fitness facility that residents of a luxurious new property would expect. A Publix grocery store is just one block away.

The developers will follow guidelines established by the National Association of Home Builder’s (NAHB) Green Building Program. The Housing Studio is the architect, and the general contractor is Creative Builders Group. 

The new development indicates significant momentum for Proffitt Dixon. The firm now has 938 units under construction in the Carolinas and Tennessee. Just last month it started construction on Fountains Germantown, a 249-unit luxury apartment community in Nashville, Tenn.  

http://www.multifamilybiz.com/PressReleases/3157/Proffitt_Dixon_Plans_Luxury_Apartments_in_Greenvil...

Proffitt Dixon Partners to Break Ground on Apartment Community in Greenville

GREENVILLE, S.C., May 22, 2015 — Proffitt Dixon Partners plans to break ground this month on Fountains Greenville, a 201-unit luxury apartment community in Greenville. The new five-story community will be located on a 2.5-acre site at 210 E. Broad St., within walking distance of Greenville’s central business district and the Swamp Rabbit Trail. Upon completion in the fall of 2016, the property will feature a clubhouse, courtyards, pool and a fitness center. The design team includes architect The Housing Studio and general contractor Creative Builders Group. Fountains Greenville is Proffitt Dixon’s first development in South Carolina. - See more at:

http://rebusinessonline.com/proffitt-dixon-partners-to-break-ground-on-apartment-community-in-greenville/#sthash.cKwl1Zts.dpuf

March groundbreaking eyed for Germantown apartment building

Published January 30, 2015 by William Williams

Charlotte, N.C.-based apartment developer Proffitt Dixon Partners is targeting a March groundbreaking for its Fountains at Germantown project after having closed on the purchase of the site yesterday.

Proffitt Dixon paid $4.5 million for the 2.4-acre property, which is located at 1407 Third Ave. N. in Germantown.  R.D. Herbert & Sons Roofing and Sheet Metal Co. was the seller.

The apartment building will offer 249 units and sit on an site adjacent to the soon-to-open Butchertown Hall restaurant and bar. Its exterior will feature brick, glass and fiber cement siding. The Fountains at Germantown is a working name, according to Stuart Proffitt, the company’s managing principal.

The project would be the first in Nashville for Proffitt Dixon Partners.

“We’re excited about the momentum being seen in Germantown,” Proffitt said. “We are also hoping to create a mutually beneficial relationship with Butchertown Hall, which we think will be incredibly successful.”

The architect is Nashville-based Smith Gee Studio. Civil Site Design Group is handling civil engineering and landscape architecture work.

https://www.nashvillepost.com/news/2015/1/30/march_groundbreaking_eyed_for_germantown_apartment_building

MHN: Ground Broken on Proffitt Dixon Partners’ Fountains Matthews

Dec. 22, 2014

By Jeffrey Steele, Contributing Writer

Charlotte, N.C.—Multifamily real estate development and investment firm Proffitt Dixon Partners has begun construction on a 258-unit luxury rental property called Fountains Matthews. The $30 million apartment community will be located on 15 acres at Matthews Township Pkwy. and Northeast Pkwy. in Matthews, N.C. Full completion is expected in 2016, with first move-ins occurring in summer, 2015.

The community will feature four three-story buildings, each including elevators. One-, two- and three-bedroom apartments will showcase granite countertops, stainless steel appliances, built-in microwave ovens, French doors leading to private patios and balconies, ceiling fans and more.

Kitchen islands, linen closets, computer work stations and 10- to 12-foot ceilings will be provided in some apartment homes.

Included within Fountains Matthews will be eight live-work units designed to accommodate the needs of small professional firms and business owners. The amenity package will include a 7,000-square-foot club and fitness facility within a distinctive in-community urban streetscape. The clubhouse will offer Wi-Fi, a gourmet entertainment kitchen and lounge area with a fireplace and billiards.

The fitness center will feature an array of state-of-the-art equipment including cardio and weight stations, and will also offer a separate yoga and crossfit room.

A one-acre courtyard and signature fountains will anchor the grounds, which will also offer a saltwater swimming pool, sun deck, outdoor kitchen and grilling area, fire pit and courtyard.

“We are very excited to become a part of such a great community,” says Wyatt Dixon, managing principal of Proffitt Dixon. “Early in our rezoning and entitlement process, it became clear that the town of Matthews had high expectations for quality design and execution. Our team worked diligently to exceed these expectations, and we have ended up with a terrific plan that both the town and our team can be proud of.”

Fountains Matthews is to be the town of Matthews’ first Green Certified multifamily community. “We designed Fountains Matthews to achieve the National Association of Home Builders’ Green Certification, which promotes energy efficiency and water conservation for residents and active recycling during our construction process,” says Stuart Proffitt, also managing principal.

Serving as inspiration for Fountains Matthews’ design and concept was the market popularity and success of Fountains at Mooresville Town Square. That Proffitt Dixon community was sold by the firm in 2013.

Fountains Matthews is Proffitt Dixon Partners’ fourth development in the Charlotte area. The general contractor is Carocon Corporation, while he architect is The Housing Studio, both Charlotte based. JLL’s development services team is serving as the construction manager on the development.

Tags: Fountains Matthews, luxury, New Development, Proffitt Dixon Partners

http://www.multihousingnews.com/news/ground-broken-on-proffitt-dixon-partners-fountains-matthews/1004112620.html

Germantown neighborhood to get 220 more apartments

February 6, 2014

Germantown neighborhood to get 220 more apartments

Germantown to get220 more units off Third Avenue North

By Getahn Ward
| gward@tennessean.com

Preliminary design work is underway for an apartment community with roughly 220 units — the latest in a string of multifamily projects headed for the fast-growing Germantown neighborhood.

Charlotte, N.C.-based Proffitt Dixon Partners has about 2.4 acres off Third Avenue North between Taylor and Van Buren streets under contract for its first Nashville project.

“Nashville has been a target market for us for a long time, and we love the character of the Germantown neighborhood,” said Stuart Proffitt, one of the managing principals in Proffitt Dixon. “It fits perfectly with the high-quality communities we develop.”

Roofing and sheet metal company RD Herbert & Sons Co. currently owns and operates from the property where the apartments are planned. Within a month, Proffitt Dixon plans to file a request with Metro officials to change the zoning from industrial to residential use.

With the required approvals, Proffitt hopes to start construction by the first quarter of next year with completion expected 18 months later. He said it was too early to provide an estimated cost for the development or rental rates for the apartment units. R. Hunter Gee of Nashville-based Smith Gee Studio is the architect.

Proffitt Dixon is interested in other opportunities to develop apartments in the Nashville area, Proffitt said. Since 2008, the firm has invested in or developed 1,200 apartment residences overall.

Strong activity

The new apartments would continue strong development activity in Nashville’s multifamily sector. At year-end, 4,581 units were under construction, almost double the 10-year average of 2,626 units, according to Colliers International.

Developers are being drawn by Nashville’s healthy economy, growing population and strong market fundamentals, including a 96 percent occupancy rate — the highest level since the third quarter of 2007 — and average monthly rent of $901 at year-end.

A number of apartment developments are going up or planned around Germantown, including the 290-unit project that San Antonio-based Embrey Partners plans as part of development near thehttp://www.tennessean.com/section/PROJECTS78" ballpark for the Nashville Sounds to be built at Sulphur Dell.

“The whole Capitol District is extraordinarily active,” said Grant Hammond, a condo broker with development projects around Germantown. “My suspicion is that you’ll have as least two more large multifamily announcements over the next six months.”

http://archive.tennessean.com/article/20140206/BUSINESS02/302060048/Germantown-neighborhood-get-220-more-apartments

Proffitt Dixon starts upscale apartments in Matthews

By Ely Portillo
elyportillo@charlotteobserver.com

Posted: Thursday, Dec. 18, 2014

Charlotte-based Proffitt Dixon has started construction on an upscale, 258-unit apartment complex in Matthews, the company said Thursday.

The Fountains Matthews complex is located at the the intersection of Matthews Township Parkway and Northeast Parkway. The $30 million development is expected to be ready for its first residents to move in by late summer, with construction completed in early 2016.

“We are very excited to become a part of such a great community,” said managing principal Wyatt Dixon, in a statement.

The development will include four three-story buildings with elevators, as well as a 7,000 square-foot club and fitness facility, yoga and Crossfit rooms, a one-acre courtyard, fountains, outdoor kitchens and grills, fire pit and saltwater pool. The apartments will be one-, two- and three-bedroom units.

Proffitt Dixon built its first Fountains apartment development in Mooresville. The company is currently building a complex called the Fountains Uptown at Stonewall and McDowell streets in Charlotte, slated to open next year.

On the Matthews project, Carocon Corporation is general contractor, The Housing Studio is the architect and JLL’s development services team is serving as construction manager.

Portillo: 704-358-5041; Twitter: @ESPortillo

Read more here: http://www.charlotteobserver.com/2014/12/18/5393111/proffitt-dixon-starts-upscale.html#.VKaz_3vCc4Q#storylink=cpy