Work begins on Lenox center

Tuesday, April 8, 2008 at 2:14am

Regent Cos. is starting construction on the first phase of its lifestyle center in Lenox Village.

Lenox Village, of course, is the “new urban” development on 208 acres off Nolensville Road in the southern part of Davidson County.

The center will have 273 residential units and 40,000 square feet of retail and office space. Golden Eagle, a Mongolian-style restaurant, has signed a lease for its second location in the Nashville area. The first is Murfreesboro.

There’s space for two more restaurants and the hope is to draw in a medical office, a coffee shop and perhaps boutique shopping. Brookside Properties has been hired to handle the leasing.

Regent borrowed $33.7 million for the construction through Bancorpsouth Bank for the $43-million project. A second phase is planned next to a 509-car parking garage that already has been built.

Initially, the plan for the residential part was to sell them as condominiums. But the developer now plans to keep the units as apartments until the market turns for the better.

The economic stimulus package Congress approved recently, however, includes a tax advantage for maintaining the units as apartments.

Lenox Village development has proceeded for a few years in the fast-growing part of the county near the Williamson County line. There have been attached and detached housing and a variety of other amenities to give the urban feel in a planned community in the suburbs.

A little more than 1,000 homes have been sold in the development. The plan is for renters to move into the apartments by the end of the year.

Sonic closes purchase

Charlotte-based Sonic Automotive completed its deal to buy Thoroughbred Motorcars.

Property records show owner Martin Bennett selling the property for $8.5 million. A new Web site has the name of the dealership as Jaguar Porsche Audi Nashville.

Sonic owns the BMW and Mercedes dealerships as well as Crest Honda, Crest Cadillac and the Hummer dealership.

Marketplace appears Tuesday in The City Paper.Have an item to share? E-mail it to rlawson@nashvillecitypaper.com

Filed under: City Business
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By: grapa on 12/31/69 at 6:00

Where are the "Keep it Green" people. Have I missed out on this one. It sounds like a lot of Tax free benefits for someone who will be gone with his money and in ten years just a lot of broken down apartments. I understand that our society has become sooooo mobile but just who are these poeple who will be coming and going?

By: WrdBrn on 12/31/69 at 6:00

... first I have heard of this one. If it is on 'virgin land'. GRRRR bad form. If is brownfields... I suppose. And then how much did the city give away in "infrastructure" that we will be paying for ... I am just out of the loop on this one... I have family out that way it will be interesting to find out what they think... It was pretty crowded the last time I traveled that far out....