Inside 440 - Berry Hill, Midtown, Vanderbilt, 12S, WeHo, Fairgrounds, etc.

[markhollin]

Vanderbilt Univ. Owen Graduate School of Management (renovation and expansion of 5 story structure) update: fencing is up.

Looking SW from intersection of 21st Ave. South and Grand Ave:
 

[MLBrumby]

Too bad to see those trees go!

[markhollin]

6 minutes ago, MLBrumby said:

Too bad to see those trees go!

I don't think they will be coming down.  

[smeagolsfree]

42 minutes ago, markhollin said:

I don't think they will be coming down.  

Agreed, Vanderbilt is very careful about preserving the trees on the campus.

[donNdonelson2]

23 minutes ago, smeagolsfree said:

Agreed, Vanderbilt is very careful about preserving the trees on the campus.

Yes, indeed! The Vanderbilt campus is an accredited arboretum with over 6000 identified and geolocated trees and shrubs. 

[markhollin]

SW corner of Broadway and Lyle Ave. scraped for Velvet Taco Restaurant.

Looking SW from intersection of Lyle Ave. and Broadway:
 

[samsonh]

https://www.nashvillepost.com/business/development/residential-real-estate/article/21067224/residential-project-eyed-for-west-end-park
 

the above project looks like it is back on. Developers have sent out notice to nearby residents, and there is a zoom meeting April 1st for feedback. Design has changed a bit, and I’ll upload a new picture if I get a chance. 

[markhollin]

1818 20th Ave. South (3 story office building) update: digging underway, rendering now available at site.

Looking SE from intersection of 20th Ave. South 1/2 block north of Acklen Ave:
 

[samsonh]

On 3/27/2021 at 5:07 PM, samsonh said:

https://www.nashvillepost.com/business/development/residential-real-estate/article/21067224/residential-project-eyed-for-west-end-park
 

the above project looks like it is back on. Developers have sent out notice to nearby residents, and there is a zoom meeting April 1st for feedback. Design has changed a bit, and I’ll upload a new picture if I get a chance. 

 

 

Edited March 29, 2021 by samsonh
Trying and failing to upload scan!

[downtownresident]

@samsonh if the file is a hyperlink you can select “display as link instead” to post a link to the file. 

[markhollin]

Odyssey  at the Park (two 5 story buildings,  75 units, ground level retail, 130 space garage) at  the NW corner of 31st Ave. North and Long Blvd. will get underway this summer.  Additionally, Athena at the Park will be another 5 story (?)  structure offering 51 condos, and Mosaic at the Park will be yet another 5 story (?) structure with 53 condos at the 3108 Long Blvd. that will replace the 3 story, 1930s-era Avoca Apt. building that is considered unsalvageable (originally they wanted to incorporate it into the design).  No renderings for the final two mentioned above, but new renderings of Odyssey are shown below.

Richland Building Partners via Parthenon Investments is the developer, and the latter is the contractor. Smith Gee is the architect.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21146802/summer-start-eyed-for-west-end-park-project
 

This screen shot from Smeagolsfree's excellent development map shows the site highlighted in teal at the center of the frame:

[BNAfan]

Love the retail included. I have wondered why the other developments have not included retail as this intersection permits commercial per neighborhood plan. It’s the only intersection that does. Fingers crossed that 31st and Burch will as well whenever it turns over.  In my opinion, having a neighborhood corner coffee shop or restaurant could help return these blocks to a neighborhood. 
 

I love the massing, as well. I think this one is a win. 

[samsonh]

2 hours ago, BNAfan said:

Love the retail included. I have wondered why the other developments have not included retail as this intersection permits commercial per neighborhood plan. It’s the only intersection that does. Fingers crossed that 31st and Burch will as well whenever it turns over.  In my opinion, having a neighborhood corner coffee shop or restaurant could help return these blocks to a neighborhood. 
 

I love the massing, as well. I think this one is a win. 

I also like the retail/restaurant component. I dislike the fact that the Odyssey is all short term rental. But it will be nice for that block to regain some life. And I share your feelings about 31st/Burch.

Edited March 29, 2021 by samsonh

[MLBrumby]

Vandy United Fund is two-thirds of the way to meeting its $300M goal to upgrade athletics facilities including a football-specific training center with a full-size indoor football field, a basketball-specific training facility, an expansion to McGugin Center for all other sports teams, and stadium upgrades with premium seating.  Fundraising will be opening now to the general population.  More details will be announced in the summer. 

https://www.bizjournals.com/nashville/news/2021/03/29/vanderbilt-investing-300-million-in-athletics.html

[MLBrumby]

And more from the NBJ:  https://www.bizjournals.com/nashville/news/2021/03/29/2nd-and-peabody.html

Vanderbilt also noted that since the initial quiet phase of the campaign began in the fall, the university has already secured $200 million of its $300 million goal. There’s a $100 million commitment from the university, $90 million from anonymous donors and a $10 million lead gift from John Ingram, a board of trust member, the owner of Nashville Soccer Club and a longtime supporter of Vanderbilt Athletics.  Vanderbilt is now reaching out to the broader university community to garner support.

[smeagolsfree]

18 hours ago, samsonh said:

I also like the retail/restaurant component. I dislike the fact that the Odyssey is all short term rental. But it will be nice for that block to regain some life. And I share your feelings about 31st/Burch.

No longer STR, as most if not all of the units are for sale and at a high price point with 40% presold.

[samsonh]

39 minutes ago, smeagolsfree said:

No longer STR, as most if not all of the units are for sale and at a high price point with 40% presold.

I think this might be wrong. They are marketing it as for sale STR units. So you would buy and then STR it out. The website and all marketing seems to indicate this is the case. The marketing slogan is "Their Nashville adventure, your odyssey."

 

https://odysseyatthepark.com/

 

 

[smeagolsfree]

6 hours ago, samsonh said:

I think this might be wrong. They are marketing it as for sale STR units. So you would buy and then STR it out. The website and all marketing seems to indicate this is the case. The marketing slogan is "Their Nashville adventure, your odyssey."

 

https://odysseyatthepark.com/

 

 

Something is not right about what I heard. One thing for sure is the units are for sale and they seem to be marketing as STRs as well. If I were an owner sure as heck would not want a bunch of STRs in my building.

[samsonh]

4 minutes ago, smeagolsfree said:

Something is not right about what I heard. One thing for sure is the units are for sale and they seem to be marketing as STRs as well. If I were an owner sure as heck would not want a bunch of STRs in my building.

Completely agreed. Nightmare scenario

[Bos2Nash]

I believe The Muse on Lindsley is the exact same setup. For Sale units being marketed as STR properties.

[Nash_12South]

I wonder, as we continue to build out more and more hotel rooms at the viability of all these STRs. I'm definitely old school, but I'd rather stay at a hotel, with all its services, than an STR. I like being close to the "action" and not a 15 minute walk or $10 Uber ride away. I also wonder at how pricing will work when you shift from a single STR entity owning 200 units to perhaps 100 owners trying make the same 200 units profitable. They could undercut each other to the point of making the hotels look not so bad.

[smeagolsfree]

I am fine with staying at a STR in a resort area, i.e.. Moab, Jackson WY, etc. but I will never do one in a so called party city like Nashville or Miami. I really think you can pick and choose where you want to be in some cities, but Nashville is a crap shoot and I would not want to be in a building with a bunch of Animal House partiers.

The locations of some of these STR's really surprises me too. Some are in neighborhoods that are not that great and people think they can just walk in the middle of the night to downtown and be safe.

[PaulChinetti]

1 hour ago, Nash_12South said:

I wonder, as we continue to build out more and more hotel rooms at the viability of all these STRs. I'm definitely old school, but I'd rather stay at a hotel, with all its services, than an STR. I like being close to the "action" and not a 15 minute walk or $10 Uber ride away. I also wonder at how pricing will work when you shift from a single STR entity owning 200 units to perhaps 100 owners trying make the same 200 units profitable. They could undercut each other to the point of making the hotels look not so bad.

I've said it before but I'll say it again, airbnb/vrbo and the others a lot of times offer something that a hotel can't and or won't ever to be able to offer in their traditional buildings, the ability for large groups to all stay together in one location for a decent amount of money. Anything over 5 in a traditional hotel, your looking at multiply rooms, all paying the same high rate, with no kitchen, no shared fridge, etc, etc etc. 

NOW, unfortunately where STRs get their bad rap from is from these larger group houses where the owners are absent or just didn't give a f. They ruin it for everyone. The people who have their house/condo that they rent out for 2-4 people and never have problems are really the bread and butter of the whole system. They don't cause trouble, they pay their taxes, they over rates that people can afford, in the 100-250 a night range, where a hotel downtown is gonna be what 400 bucks a night, if there is an event going on.

Ramble, ramble, ramble, but I think my cliff notes point is, if STR owners, make sure they rent to stand up people and take care of their place, the system works 95% of the time for everyone.

[MLBrumby]

It's true they compete, but not directly. The extended stay hotels are comparable but they're hard for investors to buy and only a few are in the core.  Often STRs are a lot cheaper per person than hotel rooms and available for longer periods of time. Plus they're often better laid out for groups with multiple bathrooms, a commons area and kitchen. For investors they're also a good real estate investment if you can find well-built, newer construction with amenities like garages and pools. When they're done being used for commercial purposes, they can be sold to individuals for their residences. 

[markhollin]

The midtown property at 220 15th Avenue just north of Church St. that had been slated for a hotel 4 years ago, is now up for sale again at  $7.95 million. The empty lot which spans 1.2 acres was won in an auction by Shaar Forero Properties  for $5.2 million a few months ago.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21146892/midtown-parcels-acquired-at-auction-now-for-sale