Chartwell Expands Revitalization in Nashville with New Residential Projects

NASHVILLE, Tenn.--(BUSINESS WIRE)--Chartwell Residential today announced that it is developing two new residential projects in downtown Nashville, adding to a growing list of properties the company is managing across Middle Tennessee. The newest residential developments include The Chartwell at Marathon in Marathon Village and The Chartwell at Watkins in Watkins College. The projects will revitalize existing real estate, expand high-end multifamily housing options, offer new retail and restaurant space, and bring new job opportunities to these neighborhoods.

The Marathon Village and Watkins College development projects are both located in Qualified Opportunity Zones, which are federally-designated distressed communities marked for revitalization, economic development, and job creation. Marathon Village is on the site of the former Union Station Brick Yard that has been revitalized by large mixed-use projects such as Capitol View, The Nashville Yards, and now the Chartwell at Marathon to transition it into a vibrant mixed-use residential community. In Watkins College, Chartwell is replacing obsolete buildings with high-quality residential units that will serve as an affordable and nearby alternative to central downtown residences.

In Marathon Village, the Chartwell at Marathon will be a mixed-use, controlled-access residential project that consists of 388 apartment units and 10 townhomes with high-end appliances and finishes throughout all units. The property will also feature a luxury pool, outdoor amenity space, tenant-shared working spaces, state-of-the-art fitness center, a 500+ space parking structure, and about 10,000 square feet of rental space available for retail or restaurant use.

The Chartwell at Watkins is a residential property that is being developed with EJF Capital LLC as part of a two-phase redevelopment initiative at Watkins College. The first project is the Chartwell at Watkins that will include 377 apartment units with upscale appliances and finishes, outdoor pool and lounge, tenant clubhouse, state-of-the-art fitness center, and a parking garage structure.

“Chartwell has been actively developing residential properties in and around Nashville for decades. This experience gives us a deep understanding of the local communities and how the right property can deliver immense opportunities to the people and businesses there,” said Will Schaedle, Partner at Chartwell Residential. “We’re applying our firm’s expertise to some of the most high-profile projects in Middle Tennessee that are thoughtfully designed and carefully executed. We take pride in creating these lasting projects for the local communities.”

Also in downtown Nashville, Chartwell Residential is in the pre-development stages of a mid-rise apartment tower on land that was previously owned by John A. Gupton College. All of Chartwell’s development projects across Nashville are creating hundreds of jobs during the building process, as well as permanent apartment management positions once the properties are completed.

Franklin Construction Group (FCG), Chartwell’s in-house construction firm, is the general contractor on both the Marathon Village and Watkins College projects. FCG currently has more than $300 million in active construction apartment and residential projects throughout Middle Tennessee.

About Chartwell Residential

Chartwell Residential specializes in the development, construction, and management of high-quality multifamily, and single-family residential development projects. Our mission is to deliver sustained value by selective land acquisition in targeted high-growth markets and the development, construction, and operation of high-quality residential projects that adheres to the highest standards of quality and practice. Chartwell Residential’s in-house expertise and fully-integrated structure provide our team with superior control over costs and timing throughout all stages of the development process. For more information, visit chartwellresidential.com.