One of the two remaining undeveloped lots on Lower Broadway has plans for a multi-story music and entertainment development in its future.

Nashville-based Big Plan Holdings announced the purchase of the property this weej, paying $9.4 million for the lot located between Merchants restaurant and Nudie’s Honky Tonk at 405 Broadway. The property has remained undeveloped for at least three decades, serving as a parking lot.

Josh Joseph, Founder and CEO of Big Plan Holdings and commercial real estate developer of 23 years, said the purchase was a “once-in-a-lifetime opportunity” that he couldn’t miss, even in the midst of a pandemic that continues to rock the Nashville tourism industry.

“I think we’re at a moment in time which is obviously pretty crazy and chaotic for a number of reasons, but I do believe that … in the next 12 to 24 months, Nashville will certainly be positioned to make