The client approached us for guidance with a property purchase and development plan at 306 Gay Street in an underdeveloped area of downtown Nashville, Tennessee, in coordination with the city’s Development plan.
The Gettys Consulting Team acted as a due diligence consultant to determine the best use of the one-acre land. We investigated the property and marketplace for best use scenarios with regard to development size, typology, target demographics and service offerings. We also looked into the feasibility of adaptive reuse of the existing facility.
Our research led us to the conclusion that renovation would not be cost effective, and that the existing office building would eventually need to be demolished. Our recommendation was that a budget hotel would perform best at this location.