Phase one of two-building Modera to start in early 2021
A Germantown site long home to Centurion Stone and eyed for a large-scale mixed-use project has sold for $22 million.
To offer residential and retail, the two-building development will be done in two phases, have a main address of 1420 Adams St. and be called Modera Germantown. It will, in part, overlook the Cumberland River.
The new owner is Boca Raton, Florida-based Mill Creek Residential. That entity has enlisted Atlanta-based Cooper Carry to handle land planning efforts for the project, according to a site plan submitted to Metro.
Relatedly, Mill Creek has landed a loan of about $73.6 million from Boston-based Santander Bank.