Alex S. Palmer & Company confirmed today it will likely begin foundation work and vertical construction of its $300 million, two-tower West End Summit complex in November.
“We started excavation about four and a half months ago — we’re probably 40 days away from completing excavation, and then we would begin the foundation work. I think you’ll begin to see the initial phases of vertical construction begin the first of November,” said Rick Frazier, Palmer’s vice president of marketing and leasing, today.
Frazier reiterated that financing for the project is finished, although he declined to comment on the specifics of this, saying it is proprietary. He also said that 10 condominium contracts are already in place. The project is scheduled for completion in the first quarter of 2010.
West End Summit, to be composed of two 25-story buildings, will sit along West End Avenue near were the thoroughfare changes is name to Broadway and merges with 21st Avenue South.
One of the towers will be filled with a 281-room Intercontinental Hotel topped with 46 luxury condominiums selling for $700-$800-per-square-foot. The second tower will house 500,000 square feet of Class-A office space.
The project will also house 17,000 square feet of meeting space, Two restaurants and some boutique retail outlets will sit on the ground floor.
“We want to be the event center for Nashville as it relates to venues of this size,” Frazier said.”