Tower Investments, LLC and Barry Real Estate Companies said Tuesday they’re jointly seeking to develop the former site of the Nashville Thermal Transfer Plant with a mixed-use plan.
Both Tower and Barry already have significant investments in downtown’s SoBro district. Five of Tower’s seventeen active Tennessee projects are downtown. Last month the company opened an office on Broadway, the first outside its Woodland, Calif., headquarters. Atlanta-based Barry broke ground last month on the 435-foot-tall Pinnacle at Symphony Place. Adjacent to Schermerhorn Symphony Hall, it is the future home of Bass, Berry & Sims and Pinnacle Financial.
“We have a strong team with Tower and Barry Real Estate working together,” Tower vice president John Pierce said. “Our hope is to work with local firms Everton Oglesby Architects and Hawkins Partners to achieve our goals and realize Nashville’s vision for this property.”
Jimmy Barry, senior director of development at Barry, sees the companies’ synergy with one another and city leaders as the cornerstone of the partnership.
“We’re excited about the potential here,” he said of the former thermal site. “I believe plans for a vibrant public-private meeting place will bring a new vibrancy to this prime location.”
Formed in 1989, Tower Investments, LLC is a real estate investment and development company owned by the Marks family and employees.
Barry Real Estate was founded in 1995 by Hal Barry and Chris Schoen. The company specializes in office development and marketing and management, with a primary emphasis on the Southeast. Barry Real Estate Cos. has been responsible for the development and renovation of approximately 3.5 million RSF of office space for several Fortune 100 companies, including completion of the recently developed Southern Co. headquarters at Allen Plaza in downtown Atlanta.