While parts of the country are in a housing recession, other regions such as Nashville are booming. The Signature Tower has increased the planned size of the building by 10 stories with the addition of a hotel in the building.

Developer Tony Giarratana has added 10 floors of hotel space to his plan for Signature Tower, a move that will make the project taller than New York City’s Chrysler Building.

The move raises Signature’s height to 1,047 feet and its price tag by more than a third to $275 million. The hotel will have a separate entrance from the residential component and its amenities, which will include a spa, will take up the first three floors of the tower.

Last November, when Giarratana and Nashville Mayor Bill Purcell announced the approval of a tax-increment financing plan for Signature, which will be located at Church Street and 5th Avenue, plans called for it to house about 500 residential units on 55 floors, 50,000 square feet of street-level retail space and a seven-story parking garage below ground.

Signature’s condo count is now 400, which includes 11 units of two-story townhomes. The smallest unit is a one-bedroom, one-bathroom unit measuring 1,100 square feet. The largest will be 6,000-square-foot custom-designed units that will take up an entire floor on the top six levels.

Giarratana says adding hotel space will not affect the TIF because the hotel will be financed separately. And since the project is in the commercial core zoning district, where there are no height restrictions, no additional approvals were needed to make the addition.  via the Nashville Business Journal

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