Alexander Condo Development Transforms Corner – The Tennessean, Nashville
Bought at auction, distinctive building pleases neighbors
By Angela Patterson
January 19, 2009
A decade ago, a little white ranch house occupied the corner of Hillsboro Pike and Overhill Drive.
When Scott Dube and Mark Whitefield purchased the lot at auction three years ago, Crye-Leike Realtor Lisa Byrd said several ideas were thrown around as to what the corner would become: a bank, a retirement village, a retail venue.
But the owners were perfectly happy to turn it into the home of The Alexander, a multi-million-dollar condominium development that may offer some competition for properties such as The Whitney and Belle Meade Court.
“The neighbors rallied not to have commercial at this corner, because of the impact on the neighborhood,” said Byrd, who’s selling units at the Alexander. “From the response I’ve heard, the neighbors have been very pleased about what was built.”
Traditional Design Wanted
The seven units in The Alexander range from 1,500 to 2,350 square feet. Each unit has walnut-stained hardwood floors, custom maple cabinets, heated bathroom floors, custom-tiled 4-foot showers with adjustable jets and fully equipped gourmet kitchens.
Rather than the urban, industrial look of some of the downtown condos, these units are more traditional in design, offering the feel of a single-family home in a condo building.
“It was very important to keep in line with the design of the condos,” said interior designer Jane Greenway. “A lot of thought went into tile selection. It was important to make it different in every unit, but yet make it neutral enough to fit in anyone’s color scheme.”
Barry Huckabee of Huckabee Associates Architecture said Metro Codes mandates led to the building’s tiered appearance.
“The owners wanted a Florida or Mediterranean style design for the exterior,” Huckabee said. “But the building was rather stark because of the setback requirements, and we tried to soften it up with the colors and the stone.”
Greenway thinks the colors used on the exterior and the trim blend with the architectural look.
“Everyone sees the building because of the different architecture, but I think it blends in ? it’s a subtle look,” Greenway said.
Units Could Be Leased
The cost of the units range from $750,000 to $1.2 million. Byrd said that while the first quarter of 2009 may be a little slow for sales, she expects it to pick up as the year goes on.
“We may end up leasing the whole thing,” said Dube, who will purchase one of the units as a second home for his family. “Interest rates are great right now, and we’re not in a hurry to sell them.”
Byrd expects the property will be popular with empty nesters and retirees looking for a smaller space, but also with executives who may travel frequently and don’t have the time for maintenance required on a single family home.
“Fifty percent of buyers here won’t need a loan,” Byrd said. “They often have money from the sale of a home somewhere else. Here they can downsize, but still live the lifestyle they’re used to.”