NASHVILLE | Development Showcase

[MIRYDI]

I just hope that what we see in the render of the bridge, is what it ends up looking like once completed. I already see people bitching about the cost...

I think the design is fantastic...


Speaking of people bitching about tax payer funded project's...Here is a news piece on WSMV about the "Sticks" art work project. (Watch the video) Sounds like a lot of people aren't pleased with the cost, or the design...as well as the fact that the designer chosen for the art work, wasn't even a local artist.

$750K price tag for Nashville public art project raises questions
http://www.wsmv.com/story/23520449/7...ises-questions

I wouldn't mind if this project got derailed. It's one of the dumbest things I have ever seen. I would rather them just plant some really nice tall trees and call it a day.

[BnaBreaker]

I guess I'm in the minority, but I think it's going to be a very striking piece, especially when you consider the sheer scale of it.

[arkitekte]

Originally Posted by BnaBreaker

I guess I'm in the minority, but I think it's going to be a very striking piece, especially when you consider the sheer scale of it.

I agree with you on the scale being pretty dominant.

Depending on how the lighting scheme turns out will probably make or break this. The design is different, but overall I don't think it will necessarily look bad, just maybe not something we were all expecting to be selected for that location. I could care less if the artist is from Nashville or not, that might actually not be a bad thing. Either way once it's completed people will get used to it after a few months.

Just keep in mind that at $750K this shouldn't look cheap at all.

[MIRYDI]

Originally Posted by arkitekte

Idk, maybe First Baptist is ready to part ways with another part of their parking lot.

Does First Babtist own the big parking lot in between the Bridgestone arena and Tony's proposed Marriott?

[arkitekte]

Originally Posted by MIRYDI

Does First Babtist own the big parking lot in between the Bridgestone arena and Tony's proposed Marriott?

I could be wrong, but it's my understanding that they own that entire lot, well used to minus the part that Tony G bought to build the Marriott on.

[MIRYDI]

Originally Posted by arkitekte

I could be wrong, but it's my understanding that they own that entire lot, well used to minus the part that Tony G bought to build the Marriott on.

I didn't know that...interesting.

I guess if that's the case, that very well could be the site for this high-rise condo tower he is planning. I can't think of any other sites it would be on really.








This is going to be one very nice amenity to anyone living in the SoBro tower. You can literally walk right out of the lobby to a 24/7 diner. They said it's going to be a top-of-the-line diner as well.

Downtown Nashville to get 24/7 restaurant/bar
http://www.tennessean.com/article/20...nclick_check=1

It’s going to be a top-of-the-line diner,” said Tootsies co-owner Steve Smith, one of six partners, including his wife, Leah, and son, Brandon, behind The Diner. “It’s on the main throughway to the new convention center and is going to be hard to miss. Demonbreun is going to become the new Broadway.”

The additional stories are to be built atop the existing one-level structure, which will be expanded in the rear to make for a larger footprint, Steve Smith said. The 32-story, 300-unit-plus SoBro apartment tower that developer Tony Giarratana and his partners plan to build will curve around The Diner’s location, he added.

Construction should start next month on The Diner, a restaurant/bar that its owners see filling a need for a 24/7 concept downtown, while also capitalizing on growth in the area south of Broadway.

Partners in Avenue Diner LLC — which includes the owners of Tootsies Orchid Lounge and Rippy’s downtown — plan to spend nearly $2 million on the project. By late spring, The Diner should open in the new 14,500-square-foot, three-story building with a rooftop patio that will replace the vacant structure at the corner of Third Avenue South and Demonbreun Street.

The Diner will serve breakfast around the clock and lunch and dinner seven days a week. The menu will include hand-cut prime rib, steaks and chops, and each floor will have a bar that serves alcoholic beverages as well as espresso and similar offerings.

This rendering shows what The Diner, a three-story restaurant with rooftop patio, would look like.

[Dr Nevergold]

Originally Posted by arkitekte

Not good for Palmer and WES at all, this might be the final blow.

Palmer tweaks West End Summit; lien placed on project
http://www.bizjournals.com/nashville...mmit-lien.html

If this is true, I question HCA's leadership. What major corporation commits to West End Summit and then pulls out of the deal for another project? Seems like a company that can't make decisions or one that has clear leadership that knows what its doing. Lack of corporate ethics seems all too common in today's marketplace. ESPECIALLY since the state government - under a Tea Party government no less - committed huge tax giveaways to locate them at WES and draw some jobs up from Williamson County, from what I remember reading.

[arkitekte]

Originally Posted by Brandon716

If this is true, I question HCA's leadership. What major corporation commits to West End Summit and then pulls out of the deal for another project? Seems like a company that can't make decisions or one that has clear leadership that knows what its doing. Lack of corporate ethics seems all too common in today's marketplace. ESPECIALLY since the state government - under a Tea Party government no less - committed huge tax giveaways to locate them at WES and draw some jobs up from Williamson County, from what I remember reading.

HCA has their own schedule. They can't wait until 2018 or whenever for Palmer to get it together. They wanted to have those jobs in place in Nashville by 2015, and due to Palmer not having anything done on this project in almost a year, that's not going to happen. Given Palmer's previous trouble with WES and his most recent trouble I think any corporation would explore other options.

I don't see where corporate ethics plays a part in this at all, unless you mean by Palmer not paying contractors. Palmer hasn't fulfilled his side of the agreement yet; anyone would explore other options.

[Dr Nevergold]

^Is that what happened? I am not privy to the details of the project. If so I retract what I said.

The question is why would Palmer have funding problems when he has two tenants that confirmed they were moving in? That makes absolutely no sense.

[arkitekte]

Originally Posted by Brandon716

^Is that what happened? I am not privy to the details of the project. If so I retract what I said.

The question is why would Palmer have funding problems when he has two tenants that confirmed they were moving in? That makes absolutely no sense.

That's what happened to the best of my understanding. Your question on why Palmer can't get going with the tenants, and the hotel tenant is what everyone wants to know.

[Dr Nevergold]

I propose they bring back Lake Palmer and open up a resort. It might work, just truck in fake palm trees every spring. LOL

[nashvol85]

Originally Posted by Brandon716

I propose they bring back Lake Palmer and open up a resort. It might work, just truck in fake palm trees every spring. LOL

From PH on urbanplanet:

[MIRYDI]

This certainly helps the case for more towers downtown. I think it's just a matter of time before we see some kind of boom with Class A office space.

Nashville office vacancies hit all-time low for top-quality space
http://www.bizjournals.com/nashville...ice-space.html

The vacancy rate for Nashville's top-quality, Class A office space hit an all-time low of 4.7 percent in the third quarter, according to a new report from Cassidy Turley. It's down from 5.9 percent at the beginning of the year and 12.5 percent early in the recession.

Without more available space it's difficult for the market to grow.
"All we are doing is swapping space at this point," said Doug Brandon, Cassidy Turley's regional managing principal for the Southeast. "We have reached a saturation point in Class A space. Construction costs still outpace rental rates keeping new development at bay. With no new space you can't have much absorption."

On the investment sales side, the city hit a price per square foot record with the purchase of Pinnacle at Symphony Place. Highwoods REIT paid $292 per square foot for the 520,000-square-foot Class A building, which is 85 percent leased.

"Institutional interest is at an all-time high due to no supply and better returns compared to tier one markets," Brandon said. "The Pinnacle sale was a message to all investors as to where we are currently and Nashville's future.”

[EarthRocker]

Originally Posted by MIRYDI

This certainly helps the case for more towers downtown. I think it's just a matter of time before we see some kind of boom with Class A office space.

Nashville office vacancies hit all-time low for top-quality space
http://www.bizjournals.com/nashville...ice-space.html

Indeed it does. I've been hoping for a while that we'd eventually see a boom in office space (of the tall variety) to correspond to the flourishing market for residential properties, and hopefully we're about to.

Regarding WES, I've been wondering what will / should be done with the big hole at the site, which yesterday I noticed is beginning to fill with water again. The "beach" proposal is a hoot -- but seriously, what are people's thoughts about the site's future? Palmer can't build there, we now know, and it's hard to see how he can unload it ("For Sale: Giant Water-Filled Pit") unless someone else comes along who wants to build there and hits him up for it, but right now I doubt there is anyone.

[EarthRocker]

In other news... For those who are local to Nashville, there's an architecture-themed talk at Vanderbilt later this week which may be of interest:

Architectural historian to discuss Edward Durell Stone at Oct. 3 event
http://news.vanderbilt.edu/2013/09/m...nting-lecture/

[arkitekte]

Originally Posted by EarthRocker

Indeed it does. I've been hoping for a while that we'd eventually see a boom in office space (of the tall variety) to correspond to the flourishing market for residential properties, and hopefully we're about to.

Regarding WES, I've been wondering what will / should be done with the big hole at the site, which yesterday I noticed is beginning to fill with water again. The "beach" proposal is a hoot -- but seriously, what are people's thoughts about the site's future? Palmer can't build there, we now know, and it's hard to see how he can unload it ("For Sale: Giant Water-Filled Pit") unless someone else comes along who wants to build there and hits him up for it, but right now I doubt there is anyone.

If its ever canceled then I'm sure Palmer or whomever owns the property at that time will beheaded to environmental court, unless it is filled in whenever the project is canceled.

[ariesjow]

Originally Posted by EarthRocker

Indeed it does. I've been hoping for a while that we'd eventually see a boom in office space (of the tall variety) to correspond to the flourishing market for residential properties, and hopefully we're about to.

Regarding WES, I've been wondering what will / should be done with the big hole at the site, which yesterday I noticed is beginning to fill with water again. The "beach" proposal is a hoot -- but seriously, what are people's thoughts about the site's future? Palmer can't build there, we now know, and it's hard to see how he can unload it ("For Sale: Giant Water-Filled Pit") unless someone else comes along who wants to build there and hits him up for it, but right now I doubt there is anyone.

If WES falls through, then I'd like to see a different mixed-use development on the site. Perhaps we can put some of the retail development we're craving in the core that doesn't fit into the Northwestern Mutual development in the North Gulch on the WES site. We already have the hole for a massive garage. A couple of substantial apartment towers on top of it, then we can move on from complaining about the giant hole on West End and get back to complaining about the auto dealers next door.

[MIRYDI]

I guess I'm in the minority, but I still believe that Palmer will pull it off. I think his plan of doing the redesign will dramatically reduce the cost of construction, and will allow him to get the remaining 25% of financing he needs to get started. I just don't see this falling through at this point. No way Palmer will let this slip through his fingers being as close as it is. You can already tell he is feeling the pressure by the announcement of the redesign just days after the stories broke about him having trouble. It's now or never...he knows it....and he will get it done.

[MIRYDI]

Another celebrity chef plans Nashville restaurant
http://www.bizjournals.com/nashville...nashville.html


Metro to sell downtown mid-rise
http://www.bizjournals.com/nashville...-mid-rise.html


Nashville takes important step for Amp funding
http://www.bizjournals.com/nashville...p-for-amp.html

The Metro Transit Authority formally applied this week for federal funding for the city's planned $174 million bus rapid-transit system, known as The Amp, WSMV Ch. 4 reports.

The city is seeking $75 million in federal funding, and will also seek funding from the state.

The city will find out if it receives the funding when President Barack Obama unveils his 2014 budget early next year.

[MIRYDI]

MCC generates $26M economic impact in first full quarter of operations
http://nashvillepost.com/news/2013/1..._of_operations

The Convention Center Authority announced today that the Music City Center generated more than $26 million in economic impact in its first full quarter of operations.

The $623 million facility, which opened in late May in SoBro, hosted 29 events with 22,245 attendees in July. The events generated 12,724 room nights and $18.7 million in economic impact. July has been the strongest month to date overall in terms of economic impact.

In August, the MCC’s slowest month to date, the center hosted 39 events with 17,534 in attendance, 1,424 room nights and $2.3 million in economic impact.

September registered 32 events, 22,346 attendees, 4,603 room nights and $5.4 million in economic impact.

Tax collections continue to outperform projections, the authority said, with the Music City Center portion of tax collections up 12.7 percent year over year for July.