Property previously changed ownership hands in late 2016 for $525K, has since undergone upgrades
A former North Nashville landfill property that hugs the Cumberland River and is sandwiched by Tennessee State University and The Nations has sold for $3.5 million — about seven times what it traded for a bit more than two years ago.
The buyer of the site, with an address of 4000 Dr. Walter S. Davis Blvd., is Tack Nashville LLC, a Hattiesburg, Mississippi-based entity that is affiliated with York Development LLC. Officials with the LLC could not be reached for comment.
The York website bills the company as a family-owned real estate development company founded by Dr. Bennett V. York and features two suburban developments in its portfolio, the website notes.
The seller was Nashville Outdoor Storage, which acquired the 13.7-acre site in late 2016 for $525,000, according to Metro records. The LLC includes Nashville-based real estate investors and developers Land Deleot, McClain Towery and Johnson Phillips.
According to a source who asked to go unnamed, the LLC assembled 20 acres at the time of the 2016 purchase, including the landfill piece. Later, the LLC had the property remediated via the Tennessee Department of Environment and Conservation’s brownfield program. It has since added 20,000 cubic yards of fill to improve the 13.7-acre site.
Of note, equipment is on site and some grading is underway.
About two blocks to the south of the property, a multi-building townhome project is being eyed by Chicago-area-based Red Seal Development. With addresses of 1003, 1011, 1013 and 1013B 44th Ave. N., the collective 1.86 acres sit about one block south of Centennial Boulevard, perhaps the key street within the general area.
About three blocks to the west, Nashville-based Vintage South is underway with phase two of Stocking 51 in The Nations.
In addition, TSU is seeking to undertake various new buildings on a site located near the river.