NHC and Flournoy Development Group Announce Ellison Cool Springs Multifamily Development in Franklin, TN

MURFREESBORO, TN. (April 11, 2024) –National Healthcare Corporation (NYSE American: NHC) has partnered with Flournoy Development Group (FDG) on a new $115 million multifamily development in the flourishing Cool Springs commercial district of Franklin, TN. The class “A” community, to be named Ellison Cool Springs, will elevate the McEwen and Cool Springs Blvd landscape, introducing a dynamic blend of luxury residential apartments, retail, commercial, and hospitality spaces to the Cool Springs community.

Ellison Cool Springs will feature 332 thoughtfully designed units comprised of a blend of one-, two-, and three-bedroom luxury apartment homes and 15 ground floor live/work units to amplify the already prevalent walkability of the Cool Springs corridor. The community will also feature a premier collection of amenities to include a resort style pool and pool courtyard, dog park, communal co-working spaces, podcast/recording room, 2,000 SF clubroom featuring a live music performance area, a grab-and-go mini-market, beverage taps, fitness and wellness center with influencer wall, secure mail and package rooms and more.

“We are excited to break ground on this transformative project that will contribute to the growth and prosperity of the Cool Springs area. FDG stands out as an exceptional partner, wholeheartedly sharing our commitment to the right blend of innovation and quality of life. Together we look forward to creating a magnificent live and work community that will have a positive lasting impact on the Cool Springs area,” said Steve Flatt, CEO of NHC.

“This new community represents a commitment to excellence and a dedication to creating spaces that enhance the overall quality of life for the City of Franklin. We are honored to be part of another successful creative endeavor with our longtime partners at National Healthcare Corporation and cherish the opportunity to bring a premier living space into the heart of Cool Springs,” said Cameron Bean, Development Project Manager for Flournoy Development Group.

The project will be managed by Flournoy Properties Group and is slated for completion in 2026, marking a new era for Cool Springs as a hub of modern, integrated living.

About National HealthCare Corporation  
NHC affiliates operate for themselves and third parties 68 skilled nursing facilities with 8,732 beds. NHC affiliates also operate 26 assisted living communities with 1,501 units, five independent living communities with 475 units, three behavioral health hospitals, 35 homecare agencies, and 30 hospice agencies. NHC’s other services include Alzheimer’s and memory care units, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators. Other information about the company can be found on our web site at www.nhccare.com.

About Flournoy Development Group
Founded in 1967, Flournoy is a residential real estate firm headquartered in Columbus, Georgia, focused on the development and management of high quality multifamily and seniors housing communities in strategic locations throughout the Southeast, Mid-Atlantic, and Southwest.  Consisting of Flournoy Development Group (FDG) and Flournoy Properties Group (FPG), the firm has developed and managed over 40,000 residential units throughout the United States.  Flournoy is a wholly-owned subsidiary of Kajima USA.  To learn more about Flournoy, visit www.flournoycompanies.com.   

Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. All forward-looking statements represent NHC’s best judgment as of the date of this release.


For further information contact:
Joanna Harry
[email protected]