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Tennessee's Property Prestige: Luxury Developments That Are Redefining the State

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#realestate #privateresidential #property #luxury
Published
09/04/2023
“Good buildings come from good people, and all problems are solved by good design.” - Stephen Gardiner. The State of Tennessee is quickly gaining a reputation as one of the hottest luxury property markets in the United States and with high-end developments springing up around many of its major cities, luxury developers are turning Tennessee into an attractive investment destination. By constructing premium real estate that merges urban amenities with rural elegance, developers are elevating their chosen locations to new levels of luxury and opulence. Through modern designs, beautiful landscaping features, and top-tier finishes they are transforming various residential areas into desirable neighborhoods that attract wealth from far and wide.
 
Albion Residential's Nashville Project and Burkentine's Townhomes 
Albion Residential is making a big bet with the launch of a two-tower, 850-unit luxury apartment project in Nashville. Rebusinessonline highlights that the Albion Music Row project looks set to put Tennessee firmly on the map and is truly raising the bar for high quality developments in what is already an area of significant growth. Located at the southwest corner of McGavock Street and 14th Avenue, this new development will be pure indulgence. Featuring two towers measuring 20 stories and 29 stories, plus retail stores and restaurant spaces across both floors, it’s clear that Albion have gone all out with this one. As if that weren’t enough, they are also pursuing LEED Silver designation which would make this their second large scale undertaking within Nashville's city center. Unsurprisingly, with the site's long awaited signing and $31 million paid out, ambitious Albion look more than ready to make yet another statement.
 
In another development, Burkentine purchased 17.21 acres of land near Legends Drive and Tater Peeler Road in Lebanon city for their new 'Luxury rental townhome community'. This project involves the building of 3 bedroom, 2.5 bath rental units, serviced with an onsite maintenance and property management staff. The Tennessean states that alongside this commitment towards quality living, no further information has been released regarding the estimated rent cost yet. The development was approved by Lebanon's planning commission in April 2022 under the name Cumberland Villas and gained final approval earlier this year- further stamping credibility into Burkentine real estate group’s promising venture. It goes without saying that Tennessee is gearing up towards providing luxurious housing options through companies like Burkentine, ensuring ideal living standards along with several recreational activities around it all.
 
Housing Market Trends in Tennessee
Tennessee has seen a rise in the housing market as of late, with luxury property developments helping to put the state on the map. Redfin highlights that July 2023 saw home prices rise by 4.2% at a median price of $384,200. However, while prices have risen, there was still an overall decrease year over year in total homes sold — numbering 7,582 compared to 9,052 last July. For those who are looking to enter into the real estate sector and become landlords within the Tennessee area it is important for them to consider the benefits of property management services. Hiring management services can help maximize the rental incomes and steer them clear of any potential legal issues, which may arise due to lack of knowledge relating to tenants' rights and regulations. Property management companies offer comprehensive services, including maintenance checks, repairs, with collection rent from tenants and much more.
 
In summary, luxury projects undertaken by developers like Albion Residential and Burkentine in Tennessee are putting it firmly on the map and with attractive amenities and unparalleled views, these developers are offering buyers and investors an opportunity to gain credentials for quality living that represents true artistry in harmony with nature.

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