Peabody Union, new mixed-use space, aims to redefine expanding South Bank neighborhood

NASHVILLE, Tenn. (WKRN) — For much of Nashville’s history, the Cumberland River has been somewhat of an afterthought when it comes to development. But not anymore. Along the bluffs overlooking the Cumberland is where a whole new neighborhood called South Bank is being built.

Peabody Union is several acres of shopping, restaurants and apartments for Nashvillians to possibly enjoy a respite from the Broadway honky tonks.

“Placemaking is a big objective of ours.  And we want people when they come here to feel like they just want to spend time here,” said Ray Hensler with Hensler Development Group.

Developer Ray Hensler has been working on Peabody Union for eight years. In partnership with the Stiles Corporation and PGIM Real Estate, the mixed-use space will have 250,000 square feet of class-A office space, stores, restaurants and 354 apartment units.

“For us, Peabody Union is intended to provide an elevated experience that’s a little different than really anything we see in downtown right now.”

And that includes the variety of views. Want to enjoy your dinner with a city view? Peabody Union has a clear view overlooking Ascend Amphitheater and Music City’s iconic skyscrapers. If green space and a nice stroll is more your speed, walk just a few feet and you’re on the greenway overlooking the Cumberland River.

With more residential buildings in the pipeline, Hensler envisions South Bank becoming a transformational Nashville neighborhood of the future, while also paying tribute to the city’s past and historic buildings like the nearby brick trolley barns.

“What we also expect is this to become kinda an urban, residential high-rise community or neighborhood, which we don’t really have in Nashville. Over the next three to five to seven years we’ll see a continuation of the high rises that you see in the background here continuing up the hill.”

When Hensler started building in Nashville more than two decades ago, not in his wildest dreams did he envision today’s building boom.

“Honestly, I did not. I would go to these conferences and just hope to hear Nashville mentioned.” Hensler said foreign investment has been a paradigm shift for Nashville. People are flooding in.

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And in 2025, Peabody Union will be a new riverfront space where folks can live, work and play.

“I think we’ll continue to see that 80, 90, 100 people a day moving here for some time.”

Hensler expects rental rates to be posted in early 2025.

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