Developer Lennar Multifamily Communities has paid $7.5 million for the roughly 4.7 acres in Berry Hill where it plans to build its first apartment community in the Nashville area.
Construction work should start by early next month at the property, which includes the former car dealership location at 2350 Franklin Pike most recently home to Jaguar Nashville.
Eighteen months later, the first of the planned 320 apartment units should be ready for renters to move in, said Christopher Cassidy, Southeast division president for Lennar Multifamily, a subsidiary of one of nation’s largest developers of housing.
Monthly rents will range from $1,100 to $3,000.
