We’re excited to announce that we have successfully closed on a $53M construction loan with Santander Bank for the development of Westerly House, a 246-unit, midrise multifamily community located in an opportunity zone within the Wedgewood-Houston neighborhood of Nashville. The project will be a highly amenitized property, with 15,000 square feet of retail and common spaces, and includes conventional and micro units, co-living beds, and a sky lounge. The project is expected to break ground late Summer / early Fall 2022.
Westerly House is our 2nd opportunity zone development in WeHo. It is located adjacent to the three-acre Standard Assembly campus, featuring 310 residential units and 13,000 square feet of retail and common spaces anchored by Moda Mota. Standard Assembly has begun pre-leasing and is expecting first move-ins October 2022.
Read moe on the Commercial Observer - https://commercialobserver.com/2022/08/santander-lends-53m-on-nashville-mixed-use-development/
