Plans are in the works for a new apartment building at the corner of 16th and Horton Avenues, according to The Tennessean.
Atlanta based Stonehenge DCM is behind the 86-unit project which is expected to include a mix of studios, one and two-bedroom offerings.
According to the report, the developer paid $1.65 million for the .74 acre site, which currently has a building that is set to be demolished. A five story complex will be built in its place, and is slated to open in about a year.
Music City apartment occupancy is at 94.6 percent, which has been driving costs upward, according to the Greater Nashville Apartment Association.