Scott Borchetta is pressing ahead with his next big act in downtown Nashville, and this one is less about Billboard charts and more about building permits. New filings show the Big Machine founder is moving to convert the top 10 floors of Philips Plaza into hotel rooms, a move that would give new life to a long-struggling office tower by shifting it into the city’s booming hospitality market.
What's in the filings
Public development listings identify the property at 414 Union St and list Scott Borchetta, alongside Columbus, Ohio-based TC Investment Holdings, as the developer. The documents flag the top 10 floors for hotel use and mark the building for a major hospitality conversion. Those details appear on the downtown development map, which notes Philips Plaza’s planned hotel shift, according to Nashville Downtown.
Ownership and earlier filings
Recent permit images and line-item filings go beyond the early headline announcements, laying out floor plans and mechanical changes as designers prep the upper tower for hotel operations. As reported by Nashville Business Journal, this week’s disclosures offer the clearest public look so far at what Borchetta and his partners want to do inside Philips Plaza.
Part of a larger conversion wave
The Philips Plaza plan slots neatly into a broader downtown storyline. Across Nashville, developers are reworking older office towers into hotels as traditional leasing softens and demand for centrally located rooms stays strong. That trend, which includes other sizable downtown office-to-hotel conversions, has been tracked by national and local outlets such as The Real Deal and our earlier reporting on the tower poised for a hotel flip at Fifth Third Center.
Public records and next steps
Design packets labeled "Philips Plaza Renovation" are now in the Metro planning archive, complete with site plans and schematic notes that typically accompany a Downtown Code application. Because Philips Plaza sits inside the Downtown Code zone, the project still needs a separate Downtown Code building permit and design-review approvals, per Metro planning documents and the city’s downtown code guidance.
What comes next
The latest filings define the scope of work but stop short of revealing a construction timeline or final room counts, and any buildout will depend on how the permit review and design-approval process shakes out. Borchetta and downtown partners paid roughly $29 million for Philips Plaza in 2025, and earlier reporting indicated the group had been eyeing a partial conversion of the tower, according to Nashville Business Journal, while the city’s Downtown Code process lays out the regulatory steps still ahead.
