Gaylord Opryland's owner plans offices, housing and retail for 130 acres in Donelson

Ryman Hospitality Properties Inc. has picked a Dallas-based commercial real estate firm to be the exclusive developer for its 130 acres of prime, commercial land in Donelson.

Lincoln Property Co. will help to plan, lease and develop offices, multifamily residences and retail space on that site across Briley Parkway from Gaylord Opryland Resort & Convention Center, at the intersection of McGavock Pike and Pennington Bend Road.

That land, for which previous plans included a family entertainment zone that was to be anchored by a water and snow park from a partnership of Ryman Hospitality and Dolly Parton’s Dollywood Co., will now be developed in phases as market conditions dictate.

"It's a good use for the property that will be welcomed by everyone," Metro Councilman Jeff Syracuse said. "It will create jobs, housing that supports the hotels and restaurants in the area and add retail, even hopefully a grocer for neighbors that live in that area."

The partnership with Ryman Hospitality is Lincoln Property's latest major engagement around Nashville. Separately, Lincoln Property is San Diego-based based Southwest Value Partners' main development partner for the office, retail and multifamily buildings planned on two parcels as part of the $1 billion-plus Nashville Yards development, which is set to get underway on the 15-acre former LifeWay campus near downtown Nashville.

"As the owners of one of the few remaining large tracts of developable commercial land in the Metro area, we see a tremendous opportunity to bring a high-caliber project to Donelson that will be complementary to our existing assets and the surrounding community," Ryman Hospitality's Chairman and CEO Colin Reed said in a statement.

Reed said the development has potential to attract a regional or corporate headquarters that will bring additional direct and indirect employment to Donelson.

"We are also particularly excited about the planned multifamily housing so that people who work in these offices and surrounding businesses have the opportunity to live nearby,” he said.

Ryman Hospitality and Lincoln Property said they're both committed to ensuring that the development adds to and is respectful to existing commercial and residential properties in the area, especially their Donelson neighbors. The partnership sees the project offering good visibility along Briley Parkway and access to Interstates 40 and 65, downtown Nashville and Nashville International Airport.

Residents concerned about more traffic, congestion

In response to a key concern raised by area residents, Reed said the master plan would take the existing traffic flow into account and won't overwhelm the area during peak traffic times.

Former Metro Councilman Phil Claiborne, who lives a quarter-mile from the proposed project site, likes the idea of a corporate office park because it would limit some of the use to daytime hours. “Obviously, there has to be a lot of traffic studies,” he said. “I don’t think the interchange the way it is now can handle a lot more traffic. The current zoning has some restrictions as far as light and sound and access to Pennington Bend Road and I would hope that any rezoning that might occur would honor those original restrictions.”

Current Councilman Syracuse said he supports the need for a third interchange just north of the 130-acre development site plus additional infrastructure in the area. That would complement the existing interchanges at McGavock Pike and Opry Mills Drive.

Lincoln Property's President Bill Duvall referred to as exciting the opportunity to be a part of a "unique" project and work alongside a dynamic partner in Ryman Hospitality.

“Lincoln’s developments are recognized as landmarks in their communities for their design, superior location, and quality, and this project will be no different,” he added.

Locally, Lincoln Property developed the 909 Flats apartment building across from the Nashville Farmers' Market and the Charlotte at Midtown complex at Charlotte Avenue and 23rd Avenue North. An investment advisory affiliate of Lincoln Property owns downtown's Fifth Third Center office building, which in September was put up for sale.

In addition to Gaylord Opryland Resort, Ryman Hospitalty's assets include the Grand Ole Opry, Ryman Auditorium and Ole Red, a country lifestyle and entertainment brand with a $20 million entertainment complex planned for Nashville's Lower Broadway.

Reach Getahn Ward at gward@tennessean.com or 615-726-5968 and on Twitter @getahn.