The developer SomeraRoad just unveiled Prima at Paseo South Gulch, a 16-story, 278-unit mixed-use tower which, in time, will be part of a six-building complex that will include more multifamily as well as condos, Class A office, a luxury hotel and retail. The Prima building opened this spring with one-bedrooms starting at $2,300 a month, 18,000 square feet of that Class A office, and 8,000 square feet of the retail.

Ian Ross, SomeraRoad’s founder and managing partner, said that his company owns around $3 billion in real estate across the country and invests in over 50 markets.

There is no city he’s more bullish on than Nashville.

“Far and away, I still believe — and the data and ULI support this — Nashville is the best market for real estate investing in the country,” said Ross, alluding to how the Urban Land Institute named Nashville the “No. 1 Market To Watch” this year for the third consecutive year.

“If you have a long-term hold perspective and you look out over the next 10 years, there’s no market I would sooner bet on than Nashville,” Ross said. “From a diversity of economy perspective, looking at eds and meds, tourism, population growth, GDP growth, climate, culture, no tax rate — Nashville has the recipe for success. And, Nashville’s in its third or fourth inning, whereas Austin might be in its sixth or seventh inning. Nashville’s still just at the precipice of its growth.”

That said, just as nothing is more relevant in real estate than location, location, location, Ross notes the importance of Paseo South Gulch being located near, but not in, Nashville’s ever popular and populous downtown.

To SomeraRoad, the upscale Gulch neighborhood — which even uses the tagline “between Nashville’s Music Row and Downtown,” emphasizing its proximity to Nashville’s greatest attractions while making clear it’s not actually amid their crowds — offers the perfect blend of leisure, excitement and homey seclusion.

“Downtown has been overrun. The most desirable area in Nashville multifamily is the Gulch,” said Ross. “If you look at Nashville tourism, we hit a peak last year at $10.7 billion of GDP contribution. Nashville tourism is on fire. But what that does is create a pretty chaotic downtown around Broadway, and, from a living perspective, it’s a less desirable place to be 24/7, 365 days a year. So, for a lot of your luxury multifamily product, which is what most people were building, that experience is much better in the Gulch. It’s become like the second downtown, but the one that’s away from the honky-tonk tourism.”