RCA Studio A has found a last minute savior. Bravo Development announced a finalized contract for the sale of 30 Music Square West to AMT Trust LLC for $5.6 million. Terms of the contract have not been disclosed. Tuesday, Sept. 30 at 5 p.m. was the deadline for interested parties to make a suitable offer to purchase the property.
“From the beginning I invited offers from those who have alternate plans for the building,” said Bravo Development’s Tim Reynolds. “We have worked diligently to find an appropriate buyer, and received multiple offers in the final hours before the deadline including some from developers who did not intend to save the building. In light of public concern, we ultimately decided to select the buyer that plans to preserve the building, and hopefully open it to the public.”
Bravo had previously revealed plans for a 147,000-square-feet, five-story condo to be built on the property. Bravo purchased the property from the Chet Atkins and Owen Bradley estates for $4.075 million.
In June, tenants and music industry members gathered at 30 Music Square West to oppose the selling of the building.
No immediate word on who makes up AMT Trust LLC. Stay tuned.
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Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.View Author Profile
