A major new residential project is planned on the Tennessee River off Manufacturers Road just west of One North Shore and the city's Renaissance Park.
The development at 418 Manufacturers Road is just behind another project that is currently underway at 430 Manufactuers Road. That project, being built by EMJ, will have 250 apartment units with 250 parking spaces.
The latest development is projected to be two matching residential towers seven stories high each. The top five stories are slated for residential. There will be three floors of parking, including one underground. Floors one and two will also be parking.
Developers said it was decided to have the parking as part of the buildings, though that is more expensive.
That way a wooded portion of the property that abuts Renaissance Park can be retained as a nature area instead of used as a surface parking lot, it was stated.
A board walk is planned along the river at the rear of the project, officials said.
There will be access at the river to a boat dock.
The request for listing a height restriction and for reducing the setback from the river goes before the Form Based Code panel on June 8.
Developers said the project substantially meets the 100-foot setback because of the irregular shape of the river.
They said the increase from six to seven stories is needed because of the parking floors. They said the project maintains the code allowed 85-foot building height.
There will be a new road going around the residential buildings.
The project at 430 Manufacturers Road utilizes three existing parcels and will include the construction of a new private road that will wind through the complex and on toward the nearby river.
The location of both projects is across from Ross's Landing Park and the Tennessee Aquarium.