Hotelier Rajesh Aggarwal is planning to build a hotel on 1407 Division St. adjacent to the Best Western Plus Music Row hotel. The project will include a 191,150-square-foot building with 222 hotel rooms.

Aggarwal owns the 1.27-acre property, which includes the existing Best Western Plus. The proposed hotel will rise on a portion of the 0.61-acre site, which currently holds a surface parking lot for the neighboring hotel.

The Nashville Business Journal reports that Nashville’s hotel market continues to boom, with the city second only to New York in the number of hotel rooms set to open in 2025. Of the 2,849 rooms set to open in Nashville this year, most fall in the upper midscale and upscale classes. Music City has been hit by a wave of luxury offerings, with the openings of hotels like the Four Seasons Hotel Nashville, SoHo House Nashville and 1 Hotel Nashville.

The project is seeking final site approval when the Metro Planning Department meets in April.

Subtext has announced its largest development with VERVE Charlottesville, a student housing project adjacent to the University of Virginia (UVA) campus.

Developed with joint venture equity partner Kayne Anderson Real Estate, the housing community is located at 100 Stadium Road. The project represents Subtext’s sixth deal in 2024 and its first in Virginia.

Spanning 729,262 square feet, VERVE Charlottesville will feature 1,332 beds in 463 units with layouts ranging from studios to four-bedroom apartments. VERVE Charlottesville will contribute $6.8 million to the Charlottesville Affordable Housing Fund as part of project agreements.

The project team includes Sumitomo Mitsui Banking Corporation as the project’s lender, John Moriarty & Associates as the general contractor, ESG Architecture & Design for architecture and interiors, and WOLF ACKERMAN DESIGN as the local consulting architect. Additional partners include AJC Design Group for landscape architecture, SK&A for structural engineering, Timmons Group for civil engineering, and Williams Mullen as local counsel.