Nashville Business Journal Describes Our Thoughts for The Russell Nashville Hotel
Adam Sichko reported on the transaction that started the process last July. Read his story below:
“A Nashville real estate investor plans to turn a church that's well more than a century old into a boutique hotel.
Anchor Investments LLC, led by president Micah Lacher, has paid $1.9 million for the church and parking lot at 819 Russell St. Lacher said he intends to turn the property into a 17-room boutique hotel. The plans furthers Lacher's entry into the hospitality business, a sign of expansion for a firm that has more often dealt in office, retail, residential and industrial deals.
"This will be a perfect complement to 506 Lofts, our downtown hotel. We cannot wait to return this historic church to its former glory," Lacher said in a statement.
Renderings and other information should be available in the next month or two, Lacher said. He won Metro approval for his plans in May.
Life Church International sold the property to Anchor Investments. For decades, it housed the Russell Street Church of Christ.
Lacher is aiming to open the yet-unnamed hotel in early 2019. His company plans to donate a percentage of each night's revenue to Room In The Inn and the Nashville Rescue Mission.
Lacher has retained Powell Architecture and Building Studio on the project.”