New Plans for Signature Tower in Nashville, TN

The spire on the Nashville Signature Tower

From News Channel 5 on May 21st, 2008:

NASHVILLE, Tenn. – In these tough times it seems everyone has been scaling back, and now a Nashville developer has joined the group of people making changes.

It was the building that would have changed Nashville’s skyline. Plans had the Signature Tower standing at 70 stories high, and featuring at least 400 condos. Now, it appears those plans have changed.

The building will still stand at 70 stories, but its developer, Tony Giarratana, said the struggling real estate market has made it difficult to get a project with so many condos developed.

The developer said the tower cannot be financed under its current plan, so Giarratana said he is reducing the number of condos to no more than 125, and the condos will be on floors 42 to 70. The rest of the building would still be office and hotel rooms.

About 100 people had already signed up for the units, even though some of those units won’t be available with these changes.

Buyers have been given a chance to get back their security deposit; though, there’s no word on how many people have taken up that offer.