The Trail West building on Broadway will soon change hands.
Downtown restaurant and bar owners Steve Smith and Al Ross have partnered with Nashville developer Marshall Karr to purchase the property, which sits on the southeast corner of 3rd and Broadway.
Smith and Ross told News 2 Friday that the deal should be finalized by Monday.
The businessmen added they are planning to establish a multi-level Harry O’s Steakhouse, which will also include live entertainment.
The $13 million plan could include three stories plus a rooftop patio.
The project will involve major demolition on the inside of the building. A preliminary rendering showed the outside will also undergo major changes.
Developers will have to cross some hurdles with the city before permits are approved.
The Metro Zoning Commission governs changes to buildings deemed historic.
“Any time you do anything down here you’re making a change. I’d like to see it not make a change to Broadway but make a change to this building here. I’d like to see a nicer looking building. We don’t want to change Broadway. We love Broadway just the way it is,” Smith said.
The new restaurant could open by the end of next year.
- Oct. 22, 2014: Trail West could become honky-tonk as steakhouse plans abandoned
- Apr. 10, 2014: Lower Broadway Walgreens talk remains just that
- Feb. 18, 2014: Rumored lower Broad Walgreens stirs wounds of scuttled hotel