The investment firm established by basketball great Earvin “Magic” Johnson will put about $20 million into the 14-story Terrazzo tower. The deal will not change the 109-unit project and Crosland LLC, which developed and started construction of the building will continue to be chief operating partner.
News Release: Bill Barkley, president of Crosland’s Tennessee division, today announced that its $65 million Terrazzo mixed-use development under construction in The Gulch has attracted co-participation by the Canyon-Johnson Urban Fund, the nation’s largest real estate investment fund focused on urban revitalization in America.
Earvin “Magic” Johnson is making an assist in The Gulch. Johnson’s firm, Canyon-Johnson Urban Funds LLC, and longtime Tulch builder Crosland LLC said Monday they will join together in a deal that could give a boost to the up-and-coming neighborhood by linking a major national player in urban redevelopment with a longtime builder in Nashville’s downtown.