BROADWEST (former West End Summit), 36 story Conrad Hilton Hotel/condo tower, 22 story/510,000 sq. ft. office tower, 4 story/125,000 sq. ft. retail/office, 1 acre plaza, 2,500 car garage, $490 million

[UTgrad09]

1 hour ago, FromParkAveToTN said:

Fox News just had something on Lake Palmer.  Palmer's PR person said they were finalizing a deal,  but no details of the deal.  Sounds like the same thing they've been saying for years now. 

Finalizing a deal on what? Creating a protected wetlands?

[Guest]

WES Future Unclear

"

NASHVILLE, Tenn. -- Plans for a stagnant downtown development are still unclear. Now known as Lake Palmer on Google Maps, no construction has happened at the West End Summit Development for nearly a decade.

In 2013, HCA eyed the nearly 4 acre site, but pulled out of the project. Nashville developer Alex Palmer recently drained the hole, but what could pop up at 1600 West End remains uncertain. Since 2007, nothing has been built at the site.

Neighboring businesses want to know what's the hold-up.

"I think it's a shame actually," Nelson Trabue said, owner of Import Auto Maintenance, LLC. "Just kind of went on hold and just seemed like it stayed there."

Trabue said the hole isn't attractive, but it has helped lost customers.

"People can find us because of the lake there," Trabue said.

FOX 17 asked Alex S. Palmer & Company what will be built. A public relations representative Ben Baden emailed FOX 17 a statement saying, "We are in the process of finalizing this very complex project and hope to have more details to share soon regarding our progress.

District 18 Metro Council member Freddie O'Connell said it's unlikely Metro will seize the property.

"If you can't find something interesting to do with that, surely there's someone who will," O'Connell said. "I generally try to steer clear of eminent domain unless it is literally a last resort for a strategic process- this isn't."

According to Davidson County tax records, West End Summit Development still owns the $8.3 million property and has paid more than $27,000 in property taxes since 2007.

With the "lake" now dry, Nelson Trabue is hoping something other than water will fill up Lake Palmer.

"It looks like something could happen," Trabue said. "Hopefully.""

[BnaBreaker]

Edited April 1, 2016 by BnaBreaker

[MidTenn1]

 

Edited April 1, 2016 by PHofKS

[21jump]

How does this guy stay in the news? He has done absolutely nothing since digging the hole.

[Vrtigo]

42 minutes ago, 21jump said:

How does this guy stay in the news? He has done absolutely nothing since digging the hole.

Good point. It'd be an absolutely brilliant strategy for keeping oneself 'relevant' if he had attempted or accomplished...I dunno, ANYTHING else in the past decade.

[FromParkAveToTN]

It's strange how all these other projects are being financed and built,  but his isn't. Palmer looks way past retirement age. You would think he would sell the property and go retire somewhere. 

[Vrtigo]

I know of a big hole he could go hide in...

[markhollin]

The pumping continues. Water level has dropped at least 25 feet (compare with photo on bottom from last December).

Looking southwest from corner of 16th and Hayes:

 

Looking north from corner of 16th an Hayes:

Looking east from 17th, about 1/2 block north of West End Avenue:

 

Looking southwest from corner of 16th and Hayes in December of '15:

Edited April 14, 2016 by markhollin

[VSRJ]

That's insane. It looks like our own little rock quarry. Still amazed that nothing's happening (besides drainage).

[dxfret]

These pics clearly show how Alex Palmer has failed to get anything done with this site in 10 years, yet the city continues to boom all around him.  What an unprecedented and massive failure!  

No wonder Alex Palmer & Co. has the company offices facing westward in the Palmer Plaza building so that he doesn't have to overlook this huge, embarrassing hole.

Wonder if the new owners will rename that building after the interior renovations that are currently underway are completed?

Edited April 14, 2016 by dxfret

[Vrtigo]

I see they have been quick to pluck out all of the bodies and derelict vehicles that have emerged from the depths before the media got ahold of them. 

[nashvylle]

why couldn't AP just have built a parking garage to generate income and then build offices / condos later?

[PruneTracy]

1 hour ago, nashvylle said:

why couldn't AP just have built a parking garage to generate income and then build offices / condos later?

Building a garage first constrains the design of the buildings above it. You'd have to either guess as to the size and placement of columns, elevator shafts, etc., or build inefficiently (and reduce your profit) to remain versatile.

Would be doable for a spec office or residential project but if you're after build-to-suit tenants like hotels or headquarters (as Palmer is) you're unnecessarily shrinking your market base to clients whose visions are compatible with your existing site.

Of course digging a giant hole is also a very unnecessary way to shrink your market base to clients who need seven floors of underground parking, which is why the Sump continues to fester while other lots develop quickly.

[samsonh]

Also, Who would use that garage for anything? There is no reason to go to that area and park right now.

[CenterHill]

22 minutes ago, samsonh said:

Also, Who would use that garage for anything? There is no reason to go to that area and park right now.

If you build it, they will come...  

[smeagolsfree]

John actually called them today complaining about the hole and to make a long story short, the person he was talking to said there should be news by the end of the year.

FWIW, information here. I'll believe it when I see it.

 

BTW, I just don't which year end they were talking about. May be 2032 to make it another 16 years. That's at least how long it's been in the works.

[MLBrumby]

Should be news by the end of the year!

So between now and December 31, we'll have to wait to see the headline that Alex Palmer is bankrupt. 

[BnaBreaker]

33 minutes ago, smeagolsfree said:

John actually called them today complaining about the hole and to make a long story short, the person he was talking to said there should be news by the end of the year.

FWIW, information here. I'll believe it when I see it.

 

BTW, I just don't which year end they were talking about. May be 2032 to make it another 16 years. That's at least how long it's been in the works.

...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...and that major announcement will be that 'in one year there will be a major announcement,'...

[Tim29tn]

Everytime i see this thread bumped, I'm thinking we're gonna get a lake level report. 

[volsfanwill]

6 hours ago, PruneTracy said:

Building a garage first constrains the design of the buildings above it. You'd have to either guess as to the size and placement of columns, elevator shafts, etc., or build inefficiently (and reduce your profit) to remain versatile.

Would be doable for a spec office or residential project but if you're after build-to-suit tenants like hotels or headquarters (as Palmer is) you're unnecessarily shrinking your market base to clients whose visions are compatible with your existing site.

Of course digging a giant hole is also a very unnecessary way to shrink your market base to clients who need seven floors of underground parking, which is why the Sump continues to fester while other lots develop quickly.

yes, but didnt they design the garage at city center to support the long awaited second tower, even though there are no current plans to actually build it. 

[CenterHill]

4 minutes ago, volsfanwill said:

yes, but didnt they design the garage at city center to support the long awaited second tower, even though there are no current plans to actually build it. 

Yes.   The difference is the City Center owner didn't build the garage on spec.  They agreed to build the garage as a concession to keep the anchor tenant.    There are still plans on the drawing board for the second tower, although no commitment or time frame (that I'm aware of) to move on it.    

[Hey_Hey]

You've gotten think something is brewing.  Why would they drain the lake if there wasn't at least a significant possibility of work being done?  If I owned the property and there were no prospects for development, then I sure wouldn't spend the money to drain the lake.  Now whether or not the potential development actually happens is another story, but at least there appears to be effort.

[CenterHill]

5 minutes ago, Hey_Hey said:

You've gotten think something is brewing.  Why would they drain the lake if there wasn't at least a significant possibility of work being done?  If I owned the property and there were no prospects for development, then I sure wouldn't spend the money to drain the lake.  Now whether or not the potential development actually happens is another story, but at least there appears to be effort.

If I'm the insurance carrier, you drain the hole or your premiums triple.   

[nashvylle]

10 hours ago, Hey_Hey said:

You've gotten think something is brewing.  Why would they drain the lake if there wasn't at least a significant possibility of work being done?  If I owned the property and there were no prospects for development, then I sure wouldn't spend the money to drain the lake.  Now whether or not the potential development actually happens is another story, but at least there appears to be effort.

Could be the insurance carrier as CenterHill stated, or the lender imposing some demands.