The Nolensville Planning Commission approved a concept plan on Tuesday night for a $90 million project called Nolensville Market Square.
The plan, which is a revised version of one presented to the commission in July, creates a live, work, play mixed-use development behind town hall.
Residentially, Nolensville is the fastest growing area in Williamson County over the past five years, says to Williamson County Association of REALTORS president David Logan. The Metropolitan Planning Organization predicts another 160,000 new residents in Williamson County in the next 20 years.
With office and commercial vacancy rates in Brentwood and Cool Springs in the low single digits, according to Williamson, Inc, and median housing prices and residential rental rates also much higher in Brentwood and Cool Springs than elsewhere in the county, according to WCAR and U.S. Census data, developers are looking to Nolensville. With its close vicinity to Nashville and easy access to Interstates 65 and 40- and lower land prices than Brentwood and Franklin, according to Logan, Nolensville is primed for such a project.
Similar in concept, if not scale, to the the live, work, play idea that spurred the Ovation development in Cool Springs, Nolensville Market Square will create more than a quarter-million square feet of space in the center of town.
The project is being spearheaded by Jeff Pate, Nolensville resident, of Mill Creek Property Development, LLC, and designed by H. Michael Hindman, a Brentwood architect, and being presented as a “new downtown” for historic Nolensville.
“We need a place where folks can go to create family memories, a place to have a street fair, a place where we can stroll and listen to live music and have dinner or ice cream, or just shop for groceries,” Pate said about the project. “Nolensville has reached a critical mass where demand for goods and services can support that kind of lifestyle. Our town is poised for growth, but it needs to be smart growth.”
Its 12-acre site has plans for seven buildings, with two of them being four stories, four being three stories and one being one story, that contain a total of 277,000 square feet of office, retail and residential space. Compare that to Ovation, which is a 147-acre site with more than 1.4 million square feet of office and retail space.
The revised plan allots 85,949 square feet of retail, 120,308 square feet of residential condos and 54,746 of office space. The residential space will be 84 condos: 28 three-bedrooms, 36 two-bedrooms and 14 one-bedrooms, along with six roof-top condos. The rest of the space will be devoted to parking garages and a daycare. The buildings, which will be built in five phases over several years, according to the presentation given by the developer at the Planning Commission meeting, are labeled A1, A2, B, C, D, E, F and G.
Phase 1 will build about half of the residential space, and parking. It will also build out Main Street.
Phase one includes buildings E and D, on the southwestern part of the site, and builds a Main Street from Oldham Drive to a round-about intersection with an extended Sheldon Valley Drive. It also builds parking lots for a significant portion of the 734 spaces in the concept plan.
Building E: Will be 46 feet tall, with three floors, and 41,858 square feet. The first story will be split between retail (11,393 sq. ft) residential common space (1,518 sq. ft), and garage space for parking (2,301 sq. ft). The second and third floors will be 26,646 square feet of condos.
Building D: Will be 46 feet tall and much like Building E, with three stories, and 38,025 square feet. The first story will be split between retail (9,816 sq. ft), residential common space (1,677 sq. ft) and parking garage (1,956 sq. ft). The second and third stories will contain 24,576 square feet of condos.
Phase 2 will add Building G, on the north end of the property, and some more parking.
Building G: Will contain a larger footprint than buildings D or E, with 39,531 square feet, but also be three floors- and 51 feet- tall. The first floor will be split between 8,155 square feet of retail and a 5,000 square foot daycare. The second and third floors will contain 13,156 and 13,221 square feet, respectively, of office space.
Phase 3 will roughly mirror-image phase 1, across Main Street on the eastern half of the property. It contains the two four-story buildings, Buildings B and C, additional parking, and mostly hold condos.
Building B: Will be four stories, and 56 feet, tall with 48,090 square feet. The first story will contain retail (10,293 sq. ft), residential common space (1,719 sq. ft) and a garage (2,121 sq. ft). The second and third floors will hold 26,226 square feet of condos and the fourth floor 7,731 square feet of roof-top condos.
Building C: Much the same as building B, at four stories, and 56 feet, tall with 48,031 square feet of mostly residential space. The first floor will be retail (10,223 sq. ft), residential common space (1,709 sq. ft) and garage (2,142 sq. ft.). The second and third floors will hold 26,226 square feet of condos and the fourth floor 7,731 square feet of roof-top condos.
Phase 4 moves back to the northeast end of the property, with construction of Building F- basically Building G without the daycare- and the remaining parking lot space.
Building F: Will be three stories and 51 feet tall, with 35,160 square feet. The first floor will be 8,790 square feet of retail; the second and third stories will hold 26,370 square feet of office space.
Phase 5 will build the last of the parking, and the last building- the only one-story structure.
Building A1 and A2: Building A has the largest footprint of all seven structure, with 27,289 square feet on one floor. Building A1 is a large square on the southeastern corner of the property, with Building A2 a square in the corner of the larger building. The lion’s share of Building A is 23,621 square feet for a grocery story, and A2 is 3,658 square feet set off for additional retail.
No tenants have been announced as of yet. The original site plan, submitted in July, had four four-story buildings and two three-story buildings and a single-story building. No tenants have been announced as of yet.
The project is undergoing traffic and impact studies, and the Planning Commission will hash out concerns with the developer throughout the planning process
However, Pate believes it will not be problem.
“With our intentional mix of retail, office and residential, Nolensville Market Square may even help alleviate traffic congestion,” Pate said. “Town residents won’t need to clog major traffic arteries to travel to neighboring towns to enjoy the amenities afforded in their own home town.”
For more information visit www.nolensvillemarketsquare.com.