Rendering shows the proposed 750-foot Paramount tower with faceted glass exterior, crown and adjacent YMCA expansion; excavation and cranes are visible at the site.
Nashville, Tennessee, August 19, 2025
A Nashville developer closed a $340 million construction loan to advance Paramount, a planned 750-foot, 60-story mixed-use tower at 1010 Church St. Excavation and foundation work are already under way, with full-scale construction slated to begin later in the year. The project will deliver 360 for-rent apartments and 140 condominiums, plus amenities and a four-floor crown. Equity raised totals about $120 million from 76 investor entities, and 38 condos have been presold for roughly $117.63 million. Projected completion targets vary as schedules shift during high-rise development.
A Nashville developer closed a $340 million construction loan that clears the way to build a new mixed‑use tower at 1010 Church St.. The loan, provided by Benefit Street Partners, supports a project now branded Paramount, planned as a 750‑foot, 60‑story skyscraper that will include both for‑rent apartments and for‑sale condominiums and is expected to become the tallest building in Nashville and in Tennessee.
Developer and sponsor for the project is the Nashville‑based firm stylized as GIARRATANA. The legal owner of the property is held under an entity named 1010 Owner. The development mix calls for 360 apartments and 140 condominiums. The tower form was designed by Chicago‑based Goettsch Partners and shows faceted glass surfaces and a four‑floor crown at the top of the building.
The recent close is a $340 million construction loan from Benefit Street Partners, an alternative asset manager with significant assets under management. That loan replaces an earlier two‑part financing package that had included a $172.3 million senior loan from a regional bank and a $60 million mezzanine loan from a New York fund. The earlier package, which totaled $232.3 million, was terminated at a reported cost of roughly $3 million, after which the new lender agreed to provide the whole loan.
The project’s total development cost has been reported with differing figures across prior reports, including $390 million and $460 million. An adjusted capital plan noted a revised debt‑equity split in which the construction loan was set at $340 million and equity contributions increased to $120 million. That equity raise included participation by dozens of investor entities and several individual investors who together provided the bulk of that capital.
Sales and marketing for the condominiums are managed by a Giarratana‑owned syndicate. The project team reports 38 condominium contracts executed to date, representing a combined sales value of roughly $117.63 million and an average listed price of about $3.1 million per unit, or roughly $1,637 per square foot. Presale procedures include a refundable 1 percent reservation deposit for interested buyers, a nonrefundable 10 percent deposit at contract signing within 30 days after disclosure documents, and an additional 5 percent due at structural top‑off, producing a total initial deposit profile of 15 percent by top‑off.
The seller has offered a limited preconstruction pricing window that was extended through Sept. 30, 2025. An initial for‑purchase offering comprised roughly 25 percent of the total condominiums (35 units) on specific high floors, with a wide representation of the 11 floor plans planned for the tower.
Construction management roles for the project include the Nashville office of Brasfield & Gorrie, with one report also naming AECOM Hunt as a general contractor. Site excavation and foundation work have started, and full‑scale vertical construction was reported variously as already begun in recent coverage or slated to begin on Sept. 15, 2025. Completion targets differ across reports; the most recent timeline from the developer indicates a goal to finish in mid‑May 2028, while earlier targets had anticipated opening in 2027.
Architectural notes emphasize a contemporary tower with subtle art‑deco influences, faceted glass planes that reflect light at multiple angles, and a multi‑floor crown. The building program includes fitness centers, resident lounges, co‑working spaces and a pool with terrace. Parking has been reported with slightly varying totals — either 505 or 517 spaces in different documents. A related contribution to the neighboring YMCA will add a new five‑story, approximately 60,000‑square‑foot addition adjacent to the tower site.
At 750 feet, the tower is expected to surpass the existing tallest local building, which rises to about 617 feet. Observers have noted that, if it were standing today, Paramount would rank among the taller buildings in Southeastern U.S. cities, with an illustrative placement as the 11th‑tallest in the set of cities compared in one analysis.
Project renderings have been released by the architect and marketing agents have been engaged for presales, including several local and regional brokerage partners. The development team has also closed other financing on nearby projects, and the new loan ranks among the larger U.S. construction loans recorded in 2025 based on third‑party analytics cited by the financing release.
Paramount is a mixed‑use residential skyscraper planned at 1010 Church St. in downtown Nashville. The project combines for‑rent apartments, for‑sale condominiums and resident amenities.
The tower is planned to reach 750 feet in height and to contain 60 stories, including a four‑floor architectural crown at the top.
A $340 million construction loan closed with Benefit Street Partners. Construction management is being handled by the Nashville office of Brasfield & Gorrie, with a general contractor named in some reports as AECOM Hunt.
Excavation and foundation work have begun. Full‑scale construction was reported with a September start in the most recent timeline; reported completion dates vary, with a current developer target in mid‑May 2028 and earlier targets cited for 2027 in some accounts.
The program includes 360 apartments and 140 condominiums. Planned amenities include fitness centers, lounges, co‑working areas, and a pool with terrace. Parking counts in prior reports vary between 505 and 517 spaces.
A number of condos have been presold. The sales process includes a refundable 1 percent reservation deposit, a 10 percent nonrefundable contract deposit within 30 days after disclosures, and an additional 5 percent due at structure top‑off.
Yes. Multiple earlier reports include different totals for project cost, parking spaces and completion timing. These discrepancies reflect changes in the capital plan and evolving reporting over time.
| Feature | Detail |
|---|---|
| Project name | Paramount (working name previously “1010”) |
| Location | 1010 Church St., downtown Nashville, Tennessee |
| Height / Stories | 750 feet, 60 stories |
| Residential mix | 360 apartments; 140 condominiums |
| Major construction loan | $340 million from Benefit Street Partners |
| Equity | Reported $120 million total equity from multiple investors |
| Architect | Goettsch Partners (Chicago) |
| Construction manager / GC | Nashville office of Brasfield & Gorrie; AECOM Hunt named in some reports |
| Amenities | Fitness centers, lounges, co‑working spaces, pool with terrace |
| Parking | Reported as 505 or 517 spaces in different reports |
| Timeline | Excavation/foundation work underway; full construction reported around Sept. 2025; completion targets vary (most recent mid‑May 2028) |
| Nearby contribution | New five‑story, ~60,000 sq ft addition to adjacent Downtown YMCA reported |
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