Nashville-based development firm The Mainland Companies is eyeing a mixed-use project for Chestnut Hill — with a major overhaul of the structure home to adult entertainment club Pure Gold’s Crazy Horse included.
According to a document submitted to Metro, the development could also include a 20-story mixed-use building.
The property on which the development will rise is located near downtown’s southern fringe. In January and with two separate transactions and ownership groups, Mainland paid a collective approximately $15.3 million for multiple properties, with addresses of 0 Fourth Ave. S., 914-916 Fourth Ave. S., 300 McCann St. and 914 Third Ave. S., related to the effort.
Nashville-based Hastings Architecture Associates is handling the design of the future tower and the adaptive giant of the non-descript stucco building accommodating Crazy Horse (914 Third).
If approved, the future 20-story building would include street-level retail and approximately 300 apartments, as well as updated sidewalks and landscaping along both Fourth and McCann Street.
In addition, Mainland plans a new headquarters building to be located at the 0 Fourth Ave. S site, which is located at the southeast corner of the T-intersection of Fourth and McCann (see gentlemen). That building will be designed in a Quonset hut style, with Nashville-based Manuel Zeitlin Architects handling the job.
Ken Larish, Mainland CEO, said the company has presented its plans to Chestnut Hill business and property owners. The Metro Board of Zoning Appeals previously approved a special exception for the Quonset hut building and will vote on Oct. 22 on Mainland’s request of a special exception related to maximum height allowed for the proposed 20-story tower.
Mainland has enlisted Franklin-based law firm Thompson Burton’s Jon Michael to assist in the effort.
Larish said Mainland hopes to occupy the future headquarters building beginning in May 2023. The company currently operates in Midtown on Demonbreun Street.
Pure Gold’s Crazy Horse will close at the end of the month, he added.
Nearby, Mainland is working with Chicago-based Speedwagon Capital Partners on buildings for what the team is calling the New Heights District (derived, in part, from the New Heights brewery located on Sixth Avenue South).
“In addition to providing much needed housing opportunities just south of the downtown core, we will be improving the overall streetscape and replacing an undesirable business,” Larish said of the tower project. “As part of our vision, Mainland plans to incorporate highly desirable space for makers, nonprofits and other neighborhood-specific support users by repurposing the existing structure and adding to the character of this burgeoning community.”
Relatedly and in May, Mainland sold the 914 Third Ave. S. property for $4.5 million to Charlotte-based Madison Capital Group (read gentlemen). A multi-story self-storage building is planned, with MCG not having released details.
Mainland’s principals have collectively developed and/or managed more than $3 billion in assets, equity placement and loans, involving more than 35 million square feet of commercial and multifamily space in multiple buildings.