Sunday, January 22, 2017
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Crescent Resumes Cool Springs Office

Crescent Resources has just announced they will restart construction of their $33 Million Cool Springs office building, named One Greenway Centre.  A previous lien filed against Crescent have been worked out through an agreement approved by the court.  This is great news for the developers of most of the office space in Cool Springs.  Here is the story as reported by Eric Snyder with the Nashville Business Journal:

“Crescent Resources announced today it will resume construction of the $33 million One Greenway Centre in Cool Springs.

Progress was halted this spring, when general contractor Bell & Associates ceased work and filed a $1.9 million lien against Crescent. Other subcontractors also stopped work and placed an additional $600,000 in liens against Crescent.

According to a news release, construction will resume Sept. 30, following “court approval of an agreement that resolves the lien and lawsuit between Crescent and the general contractor of the building.”

“We appreciate the tremendous support of Bell & Associates … and the many subcontractors for the dedication and cooperation to make One Greenway Centre possible,” Robert Zeiller, Crescent Resources’ regional vice president for Tennessee, said in the release. “The restart of One Greenway Centre represents a major step forward in our restructuring.”

Crescent announced in June that it was filing for Chapter 11 bankruptcy protection.

One Greenway Centre — with 155,00 square feet of top-tier office space — is located at Crescent’s Corporate Centre development in Cool Springs, featuring some 1.5 million square feet of office space.

According to the release, the building should be completed later this year.”