A real estate investment fund co-owned by Earvin “Magic” Johnson is investing as much as $20 million in The Gulch’s Terrazzo office, retail and residential facility, officials said today.
The investment is Johnson’s first in Nashville — and he says it won’t be his last.
The fund Johnson is affiliated with, the Los Angeles-based Canyon-Johnson Urban fund, will likely invest again locally within the next 12 months.
Several projects, both in and out of The Gulch, are under active consideration, Canyon-Johnson leaders said.
“We’re excited not only about this project, but what we can do together for many, many years to come,” Johnson said. “We look forward to a long partnership with [Nashville].”
The Terrazzo is being developed by the Tennessee division of Crosland. Construction began on the project in March.