Condos in the new complex coming to Belle Meade Plaza will start at $2.5 million
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A rendering of space inside the 1 Iris Lane complex. Image: Courtesy of AJ Capital
Ultra-luxe condos coming to the Belle Meade Plaza site will start at $2.5 million and will include access to ritzy amenities like private mahjong rooms, a Pilates studio and an on-site salon.
Why it matters: The condos, which will be split across two residential towers known as 1 Iris Lane, represent the new standard for high-end living in Nashville.
The big picture: Nashville's luxury housing market has exploded since the pandemic, fueled by a surge of high-earning transplants moving from costal hubs like Los Angeles and New York.
- By last year, Music City was recognized as the nation's biggest market for high-end real estate.
- Uber-chic condos have become a massive draw. Earlier this year, two penthouse units in the Broadwest building sold for a combined $14.8 million.
By the numbers: The new 1 Iris Lane buildings will include a total of 92 condos, with units ranging from one to four bedrooms, according to a new statement from developer AJ Capital Partners. The average size will be about 3,200 square feet.
- Residents will have access to a five-acre private park.
- There will also be 16,000 square feet dedicated to amenities, including screening rooms, a private pool and spaces for wine, whiskey and cigar lovers.
What they're saying: Steve Fridrich with Fridrich & Clark Realty called 1 Iris Lane "an unprecedented development" in a statement.
- "We have not seen anything like it in Nashville, more so in the whole Southeast," he said.
Zoom out: The condo towers will be at the center of the larger Belle Meade Village redevelopment project along Harding Pike at White Bridge Road.
- Crews demolished the old Belle Meade Plaza, including a Kroger and a shopping center, earlier this year to make room for the new construction.
State of play: Belle Meade Village will also include a boutique hotel and 6 acres of public green space, with access to restored greenway space along Richland Creek.
- A retail village with garden-lined paths will include more 40 storefronts, including cafes, restaurants and global brands.
- The centerpiece of the "town square" design will be an antique carousel.
What's next: An appointment-only sales gallery for prospective buyers at 1 Iris Lane opens Nov. 3. Construction on the residential towers is expected to begin before the end of the year, with an opening date expected in early 2028.