Demolition crews are busy knocking down the old Lipman Brothers warehouse at 407 Great Circle Road as developer Oldacre McDonald moves into the construction phase of Mainstead MetroCenter. The three-phase project will reshape the 15-acre site into several apartment buildings with street-level restaurants and shops. Phase one is expected to bring roughly 300 apartments and about 14,000 square feet of ground-floor retail, with the full buildout planned to reach around 750 units and about 30,000 square feet of restaurant and retail space.
What’s Being Built
The phase-one building is slated to include about 300 units and nearly 14,000 square feet of restaurant and retail space, according to the Mainstead MetroCenter leasing brochure. That packet markets storefronts ranging from roughly 1,100 square feet up to the full 14,000 square feet and pitches the site as a mixed-use hub in the growing MetroCenter corridor.
Financing And Scope
Per Nashville Post, Oldacre McDonald has secured a $63.5 million construction loan from United Bank to launch phase one, with Medalist Capital helping service the debt. The Post reports that Mainstead MetroCenter is a three-building, roughly $93 million undertaking that will ultimately deliver about 750 apartments and around 30,000 square feet of restaurant and retail space, and identifies Niles Bolton as the project’s architect.
Who’s Building It
Oldacre McDonald, the Nashville-based developer behind the Mainstead brand, is listed as lead developer on the company’s site, which highlights its track record with regional retail and mixed-use projects. Industry listings identify Oxford Properties as the project’s general contractor, with the firm’s profile noting experience delivering multifamily and mixed-use developments across the Southeast.
Where It Sits
The project is rising at 407 Great Circle Road, across Athens Way from existing apartment communities such as Soundwater. The leasing materials lean heavily on the site’s proximity to surrounding multifamily properties, nearby green space and major arterials. Metro records cited by Nashville Post show that a limited partnership including Lipman Brothers owns the 15-acre parcel, and that Lipman Brothers has relocated its operations to 2815 Brick Church Pike. The leasing brochure maps the address within a cluster of recent apartment projects in the MetroCenter corridor.
The demolition activity along Great Circle Road marks the visible start of site work. Crews will shift from clearing buildings to foundation and infrastructure work as Oldacre McDonald lines up additional contractors and retail tenants. Once complete, the project will add a significant batch of rental housing and ground-floor retail to MetroCenter, extending the steady run of multifamily development just north of downtown Nashville.
