The site is the impact-driven real estate investment managers second large-scale, community-centric development project in the metro area
NASHVILLE, TENN., and WHITE PLAINS, N.Y., APRIL 11, 2024 – Rethink Community (‘Rethink’), a New York-based real estate development company and social impact investment manager, has announced plans for a mixed-use development on a 48-acre property (‘Broadmoor’) in Nashville, Tenn. Rethink closed on a development partnership for the site with local investors in October 2023.
The Broadmoor project site is conveniently located just 4.5 miles north of downtown Nashville, adjacent to both Ellington Parkway and Dickerson Pike in East Nashville, with easy access to the new 65-acre Oracle campus, Tennessee Titans new $2.1 billion stadium, and the Skyline Medical Center.
Rethink has completed an initial master plan for the multi-purpose site that includes workforce housing (both for-sale and for-rent single family units), active adult multi-family units, commercial and retail space (including restaurants and a brewery), an early childhood education center, an expansive community park, and dedicated greenway throughout the property. Expected to break ground in mid-2025, the team is currently working towards site plan finalization and permitting.
The Broadmoor site plan takes a community-centric approach to development, integrating commercial, retail, education, and green space with workforce housing.
The Broadmoor project aligns with Rethink’s holistic approach to its developments, collaborating with local partners to develop mixed-income projects that address the rising affordable and workforce housing crises, alongside investments in key assets and programs to support thriving communities.
“We believe people deserve to live in affordable and safe spaces where their families can flourish,” says Michael Walden, President and Co-Managing Partner of Rethink. “The Broadmoor project was purposefully designed alongside our local partners to address the needs of East Nashville, which is experiencing a tremendous amount of pressure from community growth. We look forward to expanding our presence in the area and delivering this resource to the neighborhood.”
Rethink will continue to engage in conversations with community members to pinpoint specific needs within the East Nashville neighborhood that it can help address through its network and resources. The Rethink team seeks to partner with community institutions like education, healthcare, and faith-based organizations, recognizing the central role they play in thriving communities.
The Broadmoor project is another step toward Rethink’s broader vision of developing large-scale, high-impact projects that are designed to strengthen neighborhoods. Broadmoor is the company’s second mixed-use development site in the Nashville metro area, its other project, City Vista, is a 21-acre development located two miles north of the central business district that Rethink acquired in 2021. Rethink intends to further build out its pipeline of community-centric development projects, with a focus on opportunities in Nashville, TN; Atlanta, GA; Charlotte, NC; Washington, D.C., and others.
Rethink Community is one of five strategies out of the Rethink Capital Partners platform. The company’s ethos of impact-driven real estate investing can provide a more sustainable and cohesive solution to the housing problem.
About Rethink Community and Rethink Capital Partners
Rethink Community is an impact-driven real estate investment manager working with local partners to create the critically needed workforce housing and services for families in underserved communities. Our capital is invested, and our projects are designed with the intention to generate positive, measurable social and environmental impact alongside attractive financial returns. Rethink Community is a strategy within Rethink Capital Partners, LLC, an investment management firm specializing in real estate and venture capital with impact at its core. For more information, please visit rethink-capital.com/community.
###
Media Contact: Peyton Murray, Rethink Capital Partners, media@rethink-capital.com or 914.595.2137