mundiejc
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Posts posted by mundiejc
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Last night, a project that my father and I have been working on for 8 months finally made it through Third reading. We're moving on civil and architecture now and hopefully will be breaking ground soon. This is a cottage court, tentatively named Lacy Court, at the corner of Lacy and 23rd Ave N. Its currently a giant block of concrete, so we're excited about some development on a blighted parcel that is revitalizing, without displacing, as well as mitigating a pretty serious stormwater concern. I'm especially excited since its 200 yards from my house.
Centric is doing our plans. These attached renderings aren't final, but they are pretty close to the design of the homes. The placement is correct though as this is the site plan from the approved SP.
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Prices are leveling out now. If you overprice, you aren't selling now. Buyers have more options than in the last couple years as inventory has caught up (especially on the fringes of the hottest neighborhoods). But when you hit the right price, the buyers start coming in droves.
Also - much of these values are based on location as much as home quality. You can see it well in East Nashville. If you are in an area that is walkable to lots of retail, your values are going to be strong. But the parts of East and Inglewood that aren't now, and probably won't ever be conveniently walkable, prices are considerably lower
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Its not my favorite design - but I think most of the money went into the main infrastructure. This was all steel beams... no stick framing on this thing. For at least that, I am appreciative.
This is DJ's first project of this scale, and I'm listing some spec homes he's designed, and they are much better. So we'll see with his other properties what ends up happening.
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The two duplexes in the middle were built before the crash. They are hideous, I agree. Rumor has it that it was built by a Titan's player who maybe got cut eventually? They went into foreclosure and I believe someone picked them up for under 100 per side.
The others being built are all new construction. Its very consistent with the styles and finishes going on in east, 12south, and wedgwood houston. There is no historical overlay in HBV or North Nashville, so people can build whatever they want. They aren't selling quickly, but they are pushing price points in the mid 400s for between 1800-2000 sf... so they may just be a little early.Just for clarification purposes. Salemtown and Germantown are between the river and Rosa Parks, north of Jefferson, south of I65. HBV is West of Rosa Parks, North of Jefferson, and bordered on the west and north by I65. North and West of there has a bunch of different neighborhood names according to google. But it seems that they are generally getting lumped together as the Buchanan Arts District. The neighborhoods themselves are kinda small and since they are all anchored by Buchanan, it makes sense to me to group them together that way.
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2 hours ago, smeagolsfree said:
Unfortunately after looking at the linked in page, I give a 1% chance. No experience what so ever in pulling something like this off.
We've been discussing on the Buchanan St Neighborhood page on Facebook. I've done quite a bit of googling. The woman who wants to do this is right out of college. She did go to Brown, so maybe she's got a Trust Fund or something, but no bank will loan money for something like that unless she's got a pile of her own cash. Surely she at least has enough to purchase the property. I can't imagine the listing agent accepting a contract for something like that without a good funds letter.
I would love to see Bud's Curb Market gone though. That place is a nuisance.
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Just did a drive around today in North Nashville to count the new construction - in the area north of Jefferson, East of Ed Temple, West of I65 and South of Rosa Parks, there are over 150 new builds somewhere between being staked and completion. There are also 3 SP applications pending, and one Active (a luxury row home development at 9th and Dominican/Cass)
When I moved over here, I never anticipated that this would be happening this quickly.-
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6 hours ago, markhollin said:
First North Townhomes (3 stories, 8 units) at NE corner of Dickerson Pike and Evanston are nearly complete:
This is in the wrong thread. This is east Nashville. I know you're a mod, but you keep repeatedly including mcferrin and Cleveland park in north when it's always been part of east.
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Shouldn't both of these be in the east nashville thread? McFerrin and Cleveland Park are considered East Nashville. Used to be North Edgefield
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35 minutes ago, smeagolsfree said:
Dang Mark! You are fast to post as this just went live on the TN 5 minutes ago.
This is a decent looking project.
It was me that posted it. Getahn publishes his stuff on the north nashville Facebook group as soon as it goes to press.
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I think this has been discussed before, but this is the most detailed article I've seen. NW corner of Rosa Parks and Garfield.
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I have a friend who works at the FDIC who says that they are telling banks to slow down on luxury multi family stuff and encouraging more affordable multi family.
And just to add to everything.. northwest of 65 in North Nashville, things are exploding. One block on Delta behind the convent now has permits pulled and work having started on 6, with at least four more that should begin in the next 3 weeks. Throughout the rest of the neighborhood, there are at least 20 others that are somewhere between permit pulled and almost completed and all seem to be selling between 180-210 a foot. Unbelievable.
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I just noticed that Cottage Partners LLC who has been discussed here before owns the old Herman Street Apartments. They've just pulled like 2 million of rehab permits on the property. Anyone know anything?
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If you're looking at appreciation... when an area goes from prices being set in the "no one wants to own here range" to the "people actually want to own" range, the price increase, on a percentage basis, can be pretty steep.
its just like north nashville over the last 3 years. 3 years ago you could get a basic, but move in ready house, 1100 feet or so, for 50-60k. Now that same house will go in the high 90s or low 100s (depending on exactly where it is in the neighborhood). Thats like 100% price growth, but over all, its not that much.
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Yes - 2500 Heiman is the main parcel.
The developers need a zone change from combined IR, RM40, and R6. They want the whole thing to be RM40-A. It sounded last night like the developers and the neighborhood were getting close to coming to an agreement. There will be no commercial based on this (though I suspect this development will help bring limited commercial nearby, as well as help support Jefferson Street with lots of pedestrian traffic). 300 units from flats to single family homes. Single family and cottage courts will front Heiman with typical set backs (there is typical 1930s residential development across the street) and the more dense areas will be further away from Heiman. There will be a greenway and landscape buffer along the railroad tracks. The developer is also hoping to get the city, mdha, and tsu involved so that the main boulevard through the community would be able to connect back to Ed Temple/28th at the intersection of Walter S Davis (which turns into Centennial in the Nations). This would alleviate the concerns about traffic from the neighborhood, which are probably justified given the lack of significant infrastructure in this area. 26th Ave N which goes straight to the interstate, would also require updating and probably a traffic light at Jefferson as its all ready a dangerous intersection where much of North Nashville travels to get on I40 West.
I'm really excited about this and hope it can get off the ground.
here's the proposal from the developers.
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Jefferson Street is starting to activate all the way down. DJ Wootson's mixed use project at 1821 Jefferson is having its official groundbreaking tomorrow at 10.
Additionally, I'm heading to a community meeting tonight regarding a proposed development on a huge undeveloped parcel at 2500 Heiman. Will include 300 units of single famil, town homes, flats and commercial if rezoning is approved. Will be a game changer for North Nashville.
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Zoning is important. If you've ever been to Houston, TX you'll see. I was pretty libertarian about that whole deal until I visited houston and saw plumbing businesses with 10 vans being run from a .15 acre lot and residential home in the middle of a neighborhood. All the vans parked in the grass in the front yard. Gas stations and slummy mechanic shops situated in between single family homes. That sorta thing is detrimental to your use and enjoyment of your property and kills your property value.
And even zoning doesn't save you. There is a Dollar General being built near my house in North Nashville on a commercial lot that abuts residential development. The neighborhood is mixed use generally, so the store itself is not the problem. But it was build below grade and its 90% metal with no windows or other architectural features. The poor people that live behind it will be staring at a metal wall for at least 15 years, devaluing their property.
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Couple of updates from the northwest side of I65
Permits were pulled yesterday for demo of an existing building at DJ Wootson's project at 1821 Jefferson. Erosion barriers have been up for about a week.
The Dollar General at Buchanan and Jefferson is basically a gigantic metal building. The lowest quality products that DG puts out. Disappointing, but not surprising. Neighbors over here are beginning discussions of how we can get some control over design on new commercial development in the area so this doesn't happen again.
The buchanan arts district is now home to some new tenants, Holiday Nashville (upscale salon) Annie Williams (handmade leather bags) The Farmer's Florist (organic, locally sourced flowers and arrangements) Alex Lockwood's Gallery (with space for 3 other artists studio/galleries). From what I understand, Slim and Huskies Pizza build out hasn't started, but they are working on recipes and have hung a sign on their building.
Here's a video that was released by the Make a Mark Loan program for artists live/work space about the Buchanan Arts District
https://www.youtube.com/watch?v=1JyL33qXcr8&feature=youtu.be
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3 more new construction permits have been pulled in north nashville/Buchanan area.
One on Osage, 1906 Cephas and 1918 Arthur
That brings the total new homes under construction up here to 10, and there are at least 5 more that I know will begin construction before the end of the year.
Two new constructions are currently pending contracts, one on Arthur and one on 14th Ave N. One is listed on heiman for 309900 for 1500 square feet. Seems pretty rich to me, but I've been surprised at the numbers recently.
There is a tour of the Buchanan Arts District Today from 11-2 hosted by Kelly Bonadies and the Housing Fund kickstarting their new "Make a Mark" loan product for individuals and investors to build live work spaces. Mas Tacos will be there. Going to be a fun time.
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Townhouse project at DB Todd and Jo Johnston http://www.tennessean.com/story/money/homes/2015/10/12/north-nashville-project-plans-eight-townhomes/73835792/
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Permits have been pulled and construction started on 3 new constructions on 14th Ave N between Clay and Cass, one on Saint Louis Street, 2 on 16th Ave N.
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So - as I was driving home today, I noticed a large vacant parking lot (that used to be a car lot) being torn up at the corner of DB Todd and Buchanan. I did some digging and it appears to be owned by Monte Turner (Turner and Associates) and it appears they have applied for a permit to build a Dollar General, something my snooping indicates he has done in several other areas of town.
I can't find any renderings or submitted plans anywhere. This is a great corner and will one day, I believe, be prime real estate. Does anyone know anything about this? Any possibility that he builds a building similar to the one he built on dickerson that has small front setbacks and parking on the side when there isn't any zoning regulations in place that require it?
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SQ FT?
1850 ish
Inner Loop - CBD, Downtown, East Bank, Germantown, Gulch, Rutledge
in Nashville
Posted
Those are Meharry Medical student housing. Unless students stop living there, I doubt your prediction comes true.