NASHVILLE, November 24, 2017 – Ryman Hospitality Properties, Inc. (NYSE: RHP) announced today that it is partnering with Lincoln Property Company to handle the planning, leasing and development of its 130 acres of prime, commercial land in Donelson, Tenn.
The fully-contiguous acreage is located across Briley Parkway from Gaylord Opryland Resort & Convention Center at the intersection of McGavock Pike and Pennington Bend Road. The land is anticipated to be developed in phases as the market conditions dictate. Upon completion, the master-planned, mixed-use development is expected to include office, multifamily residences, and retail space, offering excellent visibility along Briley Parkway and convenient access to I-40, I-65, Downtown Nashville and Nashville International Airport.
Colin Reed, chairman and CEO of Ryman Hospitality Properties, said, “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. We believe this development has the 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.”
Both companies are committed to ensuring that this development is accretive and respectful to existing commercial and residential properties in the area, especially our Donelson neighbors.
“The opportunity to be a part of such a unique project and work alongside such a dynamic partner in Ryman Hospitality is very exciting,” said Bill Duvall, President of Lincoln Property Company. “Lincoln’s developments are recognized as landmarks in their communities for their design, superior location, and quality, and this project will be no different.”
Reed continued, “We selected Lincoln Property Company for this project due to their shared commitment to creating a quality master plan for this property that contemplates existing traffic flow and will not overwhelm the area during peak traffic times. We are pleased to partner with a first-class development company to maximize this property and promote continued investment in Donelson. We look forward to seeing this development take shape in the years to come.”
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE:RHP) is a REIT for federal income tax purposes, specializing in group-oriented, destination hotel assets in urban and resort markets. The Company’s owned assets include a network of four upscale, meetings-focused resorts totaling 7,811 rooms that are managed by lodging operator Marriott International, Inc. under the Gaylord Hotels brand. Other owned assets managed by Marriott International, Inc. include Gaylord Springs Golf Links, the Wildhorse Saloon, the General Jackson Showboat, The Inn at Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland and AC Hotel Washington, DC at National Harbor, a 192-room overflow hotel near Gaylord National. The Company also owns and operates media and entertainment assets, including the Grand Ole Opry, the legendary weekly showcase of country music’s finest performers for over 90 years; the Ryman Auditorium, the storied former home of the Grand Ole Opry located in downtown Nashville; 650 AM WSM, the Opry’s radio home; and Ole Red, a country lifestyle and entertainment brand. The company also own the joint-venture Opry City Stage, the Opry’s first home away from home, in Times Square. For additional information about Ryman Hospitality Properties, visit www.rymanhp.com.
About Lincoln Property Company
With over 50 years of experience, Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, employing over 7,300 people in 40 states and 10 countries in Europe. Since its inception in 1965, Lincoln has developed over 132 million square feet of office, industrial, and retail projects as well as 212,000 multi-family residential units, and manages more than 350 million square feet of commercial space.