November 01, 2016
Peek at plans for $270 million Cool Springs development
The Franklin Planning Commission will vote on the first phase of the Northside at McEwen development in Cool Springs next week.
According to documents filed with the City of Franklin, Charlotte, N.C.-based real estate firm Northwood Ravin and Boyle Investment Co. have submitted plans for 338 residential units and a seven-story office building at the property at 1130 W. McEwen Drive across from Whole Foods.
The development is part of the $270 million, 45-acre plan for one of the remaining undeveloped properties in Cool Springs. Plans for this first phase of development include 180,000 square feet of office space and 27,600 square feet of retail space and two parking garages with more than 1,100 spaces.
In total, plans for the property include 750,000 square feet of first-class office space, more than 100,000 square feet of retail space, a 150-room hotel, 580 upscale apartment units and 4,890 parking spaces. Plans also include a new traffic light on West McEwen Drive, which will be shared with the Southside at McEwen shopping center. Overall completion on the project is expected in mid-2018.
The initial plans were on the agenda for the planning commission’s Oct. 27 meeting; however, there was not a quorum at the meeting and voting on the plans was pushed to a special meeting Monday.
The two blocks of land the commission will vote on are along Aspen Grove Drive, Jordan Road and Rush Street.
In August, Boyle announced it had partnered with Northwood to pursue and finance the project. Northwood Investors is expected to self-fund the project, and Boyle will be co-owners in various real estate assets at the development. Northwood Investors’ Northwood Ravin multifamily affiliate will develop the apartments, while Boyle will develop the office and retail components.
Originally Published in the Tennessean
By Ray Howze