I'm not trying to be unrealistic, just pointing out the projects on the drawing board. If I had to make a guess, I would say the most likely projects would be,
the two Convention Center Hotels (30 and 50 stories)
the Lionstone development with the 15 story office and 20 story hotel
West End Summit with 27 and 26 story buildings
Still, not too shabby.
What was the last word on the West End Summit project?
What was the last word on the West End Summit project?
Last I saw on some of these websites was that Palmer re-designed the buildings and asked for new bids in June. Also, Regions Bank is looking for a new Nashville home.
So, if positive news is forthcoming, I would expect to hear about it soon. Otherwise, we may need to stock the lake with catfish.
I am very curious how much an impact the convention center construction will have on other projects. Anyone think the CC could be a catalyst for the projects in waiting, even though construction is still a year or so away for the CC? Of course I think it could be a boost, but realistically I am not sure how much. Anyone else with some insight?
West End Summit developer Alex Palmer will keep holding onto the site. It is currently a huge hole, with about 20ft of water in it. This project will not happen this eyar probably, but in time, I think it could. It has been on the table for years, but sometimes, good things have to wait for a while. This is something I could wait for still, it is a perfect development for the Midtown area.
__________________
"When you don't want to Dallas your Austin, you just emulate the Bay Area."
While the Nashville hotel market has slowed, mainly waiting on the over 1mil sq. ft. convention center to get started, the suburbs are booming. In Franklin alone, 9 hotels are either under const. or approved, such as the Westin, Aloft, and Hyatt Place. In my hometown, Murfreesboro, the Embassy Suites opened last week. The ES has the largest convention/meeting space facilities outside Nashville in the whole metro area. A 10 story Drury Inn & Suites is getting ready to break ground, and Hyatt Place has announced a 7-story, 93ft tall hotel next to the Embassy Suites at Medical Center PKWY and Conference Center DR.
Many more hotels are looking into Murfreesboro's "Gateway" district to expand, and more convention space could follow as well.
__________________
"When you don't want to Dallas your Austin, you just emulate the Bay Area."
While the Nashville hotel market has slowed, mainly waiting on the over 1mil sq. ft. convention center to get started, the suburbs are booming. In Franklin alone, 9 hotels are either under const. or approved, such as the Westin, Aloft, and Hyatt Place. In my hometown, Murfreesboro, the Embassy Suites opened last week. The ES has the largest convention/meeting space facilities outside Nashville in the whole metro area. A 10 story Drury Inn & Suites is getting ready to break ground, and Hyatt Place has announced a 7-story, 93ft tall hotel next to the Embassy Suites at Medical Center PKWY and Conference Center DR.
Many more hotels are looking into Murfreesboro's "Gateway" district to expand, and more convention space could follow as well.
Thats awesome for the boro. However, I am happy I moved out of there and moved to downtown.
It was reported yesterday in the Nashville Business Journal, that Tony Giarratana has revealed his redesign for Signature Tower. Highlights from the article are below:
Tower looks very similar to old design, just 20 fewer stories. Spire basically looks the same, but may be a bit shorter to look balanced with the shorter tower 807 Ft - 50 Stories
Hotel portion expanded from 198 units to 304 units
Office portion - 172,000 Sq Ft
Underground Parking garage reduced from 630 spaces to 360 spaces.
Condo portion - only 50 units all in the upper portion of the tower.
The top five floors will be full floor penthouses.
Total cost $250 Million down from $350 Million for the earlier design.
Construction costs have dropped by an estimated 20%.
Financing is hoped to be obtained in 8 to 12 months.
Overseas investors are being sought.
I would estimate this tower is about 24 floors hotel, 10 floors office, and about 16 floors of condos. If Tony has secured an office tenant and can retain enough of the 105 or so people that signed contracts for the old design, I think there is a real chance he can make a go of this. We'll all have to see what happens. I have always said, that you can't just write Tony Giarratana off. He is very persistant and motivated.
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Nashville - The Next Great Southern City
It was reported yesterday in the Nashville Business Journal, that Tony Giarratana has revealed his redesign for Signature Tower. Highlights from the article are below:
Tower looks very similar to old design, just 20 fewer stories. Spire basically looks the same, but may be a bit shorter to look balanced with the shorter tower 807 Ft - 50 Stories
Hotel portion expanded from 198 units to 304 units
Office portion - 172,000 Sq Ft
Underground Parking garage reduced from 630 spaces to 360 spaces.
Condo portion - only 50 units all in the upper portion of the tower.
The top five floors will be full floor penthouses.
Total cost $250 Million down from $350 Million for the earlier design.
Construction costs have dropped by an estimated 20%.
Financing is hoped to be obtained in 8 to 12 months.
Overseas investors are being sought.
I would estimate this tower is about 24 floors hotel, 10 floors office, and about 16 floors of condos. If Tony has secured an office tenant and can retain enough of the 105 or so people that signed contracts for the old design, I think there is a real chance he can make a go of this. We'll all have to see what happens. I have always said, that you can't just write Tony Giarratana off. He is very persistant and motivated.
That is phenomenal news! Tony G has quite possibly done it again.
__________________ "Emancipate yourself from mental slavery. None but ourselves can free our minds."
Hey Nashville Forumers, I found something that may be interesting to you guys its called the Nashville Peabody Hotel. Maybe you guys can shed some more light on it.
I read an interesting article in the Tennessean yesterday about the occupancy rate at the Terrazzo. Since March they've only sold 13 condos out of 117 units. They're going to have an auction soon on a 1/4 of the units available to try and get more people in.
What type of effect is this having on WES and Signature? In my opinion based on this article, people aren't very interested in spending $300k for a one bedroom 800 sq ft condo. http://www.tennessean.com/apps/pbcs....=2009910280388
Hey Nashville Forumers, I found something that may be interesting to you guys its called the Nashville Peabody Hotel. Maybe you guys can shed some more light on it.
Hmm, that's interesting. A few years back, a Peabody was proposed for the old thermal plant site on the river, directly SE of The Pinnacle. However, that project looked completely different than this.
I'm wondering if this is another proposed hotel that will adjoin the convention center, as a Marriott Marquis has already been proposed as the anchor.
However, the specifics of the project are closely similar to the Marriott Marquis' specs. Hopefully this is the other hotel that has been rumored to be built beside the convention center.
__________________
"When you don't want to Dallas your Austin, you just emulate the Bay Area."
I read an interesting article in the Tennessean yesterday about the occupancy rate at the Terrazzo. Since March they've only sold 13 condos out of 117 units. They're going to have an auction soon on a 1/4 of the units available to try and get more people in.
What type of effect is this having on WES and Signature? In my opinion based on this article, people aren't very interested in spending $300k for a one bedroom 800 sq ft condo. http://www.tennessean.com/apps/pbcs....=2009910280388
For now, those two projects are indefinite hold, and redesign will be needed for both.
I like the Terrazzo project as it is very striking and different from other condo developments you see, at least in Nashville. However, you're paying a steep price for the luxuries the development provides, and it was delivered when the market began to tank.
__________________
"When you don't want to Dallas your Austin, you just emulate the Bay Area."
Hmm, that's interesting. A few years back, a Peabody was proposed for the old thermal plant site on the river, directly SE of The Pinnacle. However, that project looked completely different than this.
I'm wondering if this is another proposed hotel that will adjoin the convention center, as a Marriott Marquis has already been proposed as the anchor.
However, the specifics of the project are closely similar to the Marriott Marquis' specs. Hopefully this is the other hotel that has been rumored to be built beside the convention center.
A crude copy of the image:
Looks to be 30+ floors. Could it be the 'other' hotel?
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