CMT News

Industry Leaders Announce Plans for Country Music Retirement Center

Nashville music industry leaders announced plans Tuesday (Sept. 16) for an upscale "senior living" facility for those who have made music their career. To be called the Crescendo at Westhaven and located about 30 minutes south of Nashville in Williamson County, the 180-unit compound is projected for groundbreaking in 2011 and occupancy in 2013. The $95 million project will be owned and supervised by the Crescendo Music Community Fund, a nonprofit organization made up of music industry and community officials, and is to be financed through tax-exempt revenue bonds. At least 70 percent of the units must be reserved in order for the facility to qualify for financing. Tenants will be required to pay an upfront residency fee in the $300,000-$600,000 range, plus pay a monthly service fee. A spokesman for the organization said 90 percent of the initial residency fee will be refunded if the resident dies or moves from the community. In addition to living quarters, the Crescendo will also have a recording studio and performance spaces. Although designed for music industry retirees, the facility will be open to anyone who is at least 62 years old. Funds will also be raised to assist those who can't afford the initial residency fee. Among those on hand for the announcement, which was made at the Westhaven development near Franklin, were Grand Ole Opry stars Jim Ed Brown and Martina McBride.