DONELSON, Tenn. (WKRN) – Within the next few months, construction will begin on a 130+ acre development across Briley Parkway from the Gaylord Opryland Resort.
"We wanted to take the product of this town right across America and outside of America so as we have been thinking about real estate, we’ve been thinking to ourselves, we don’t just want to cut a deal, we want to think about 5 years, 10 years, 15 years from now as this market continues to evolve," said Colin Reed, Chairman and CEO, Ryman Hospitalities.
Colin Reed says the time is right to develop the property stretching down Briley Parkway from the intersection of McGavock Pike and Pennington Bend. Ryman Hospitality Properties is partnering with Lincoln Property Company on the mixed-use development.
It will be developed in phases with the first phase including several hundred apartments.
"We feel it’s essential to bring some housing here, we’re always struggling to recruit people in all of our businesses here in Davidson County," said Reed. "From there we will build office buildings and hopefully have tenants that will be supportive of this side of the road and all these wonderful assets over here."
Reed says his company has invested billions of dollars in Davidson County through development and employees and says its investment will grow in the future.
"We are all in on this county and all in on this region and you will see us do more and more I think over the next few years."
Infrastructure work was approved by the board last week, says Reed, and he hopes construction will begin within the next few months. He expects the first phase of construction to be complete in a couple of years.
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