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

[Pyramid Scheme]

Ah yes. Ugly but I still somehow like it. Another good one is on Avoca St. where it t-bones with Parthenon Ave. I guess bringing back the old architecture styles aren't going to happen, but I still like them.

[MLBrumby]

Near-record price set for Marriott Courtyard on West End... $71 million. It's really a bland hotel, as far as hotels along West End go.  I used to stay here each time I came to town on business and always got the same room on the second floor at the end of the hall along the 19th Avenue side. I sure hope they've updated it since the early '00s. This is the one that got an addition on the back of the building over a garage. Says it was built for $27.5 million... but don't believe that included the addition 5-6 years later. So let's say total invested was around $40-42 million. 

 

From NP... http://www.nashvillepost.com/business/tourism/article/20488550/midtown-courtyard-by-marriott-fetches-nearrecord-price

[RonCamp]

On 1/24/2016 at 3:13 PM, MLBrumby said:

Anything to cover up that 1980s-McDonalds-cash-register-looking BMI building.  Yuck!  It's wasn't even attractive when it was new, but you know some company executive who had surrounded him/herself with Yes-men dreamed up that "design" on the back of a cocktail napkin, and the rest was history. 

I've always wondered about this building.  It seems to have a large structured parking garage as a component of it, but also a big indoor/outdoor events deck about halfway up, and not much office.  Has anyone been inside or seen plans that can shed more light on how it functions?  It seems to be one of the more strangely designed commercial buildings in Nashville.  

[markhollin]

Elmington Group sells the holdings on Demonbreun Hill (3.38 acres) to Castle Rock Equity.  Massive development still planned.  Shops on Demonbreun to stay open for 5-8 years. 

http://www.tennessean.com/story/money/real-estate/2016/01/26/new-jersey-fund-has-demonbreun-strip-under-contract/79333512/

[samsonh]

Old Regions bank on corner of 21st and Wedgwood is being torn down for Village 21

[titanhog]

1 hour ago, RonCamp said:

I've always wondered about this building.  It seems to have a large structured parking garage as a component of it, but also a big indoor/outdoor events deck about halfway up, and not much office.  Has anyone been inside or seen plans that can shed more light on how it functions?  It seems to be one of the more strangely designed commercial buildings in Nashville.  

There was a small BMI office structure that's on the 16th Ave side that is still there and this building was built next to it / over it.  Some of the songwriter reps and other staff are still in the old part of the building...and I believe most of the financial staff are in the portion that's above the very large meeting area (Meeting Hall) when you first walk in.  This "meeting area" is where everyone gathers for the "pre-show" during the BMI awards.  Then...everyone takes the elevators up to the indoor/outdoor deck...which is just part of the parking garage 360 days out of the year.  They turn it into basically a ballroom and "bling it out" for the awards show and place some type of plastic over the garage openings to the outside.  When you walk in, you'd never guess you are in a parking garage.

[jmtunafish]

6 hours ago, markhollin said:

Elmington Group sells the holdings on Demonbreun Hill (3.38 acres) to Castle Rock Equity.  Massive development still planned.  Shops on Demonbreun to stay open for 5-8 years. 

http://www.tennessean.com/story/money/real-estate/2016/01/26/new-jersey-fund-has-demonbreun-strip-under-contract/79333512/

Interesting that the Tennessean spelled president "président" when referring to Jacob Berger of the Montreal-based company that's been hired to manage the property.  Anyway, since the previous owner was required by the city to include a grocery store in its redevelopment of this property, will that requirement transfer to the new owners?

[titanhog]

2 hours ago, jmtunafish said:

Interesting that the Tennessean spelled president "président" when referring to Jacob Berger of the Montreal-based company that's been hired to manage the property.  Anyway, since the previous owner was required by the city to include a grocery store in its redevelopment of this property, will that requirement transfer to the new owners?

I just wonder if the new owners will follow through on Elmington's original plans.

[dmillsphoto]

Elmington Capital has sold the Demonbreun Strip to Castle Rock Equity out of New Joysey. Plans to develop in three phases, leaving the current structure for 5-8 more years.

 

http://www.bizjournals.com/nashville/blog/2016/01/high-profile-demonbreun-street-property-once-eyed.html

[NashvilleTaylor]

5-8 years?  That's a long time.  I think a good place to relocate all of those bars is on South St.  It's just outside of The Gulch, is a very wide street that connects 12th and 8th avenues, and all that's there is a few ugly houses and some old low rise commercial buildings.  If I was a billionaire I would buy up that whole strip between 8th and 12th and have it redeveloped as a new entertainment district.  They could call it South Gulch.  

Edit:  Actually I would just call it "South Street".  They could have a big glitzy sign similar to the Printer's Alley sign on both sides of the block.  I just wished I had the money or power to try to do something like this.  I can see it in my head.  People could easily walk between this new district and The Gulch, especially once the extra Beaman lot (just south of the interstate from the Gulch) gets developed (would be perfect for another residential high rise with retail at the bottom.)  

Edited January 27, 2016 by NashvilleTaylor

[smeagolsfree]

It beats Elmingtons build-out of 15 to 20 years.

[markhollin]

15 brownstone condos called The Jenkins planned for Belmont Blvd./Blair Avenue site.  Groundbreaking next month:

http://www.tennessean.com/story/money/real-estate/2016/01/27/work-start-15-belmont-area-townhomes/79418660/




 

[MLBrumby]

William Williams has the piece on the restaurant/bar that will go in one of the last remaining pre-war buildings on the "strip" between Division and Broadway, across the street from that row of al-fresco restaurants along Divison. http://www.nashvillepost.com/business/development/article/20488610/real-estate-notes-midtown-building-eyed-for-restaurant-use

 

Not sure which street Divison or Broadway this rendering faces. 

[titanhog]

^^That entire area is NUTS at night.  You can barely drive down that street because of the throngs of people (at least in warm weather).

[MLBrumby]

Appears to be where Nashvillians and Vandyites go to hang... versus the tourists down at LoBro. 

[rookzie]

3 hours ago, markhollin said:

15 brownstone condos called The Jenkins planned for Belmont Blvd./Blair Avenue site.  Groundbreaking next month:

http://www.tennessean.com/story/money/real-estate/2016/01/27/work-start-15-belmont-area-townhomes/79418660/
 

Really beats that tacky crap it replaces, and that was sorely out of place for over half a century.  Heres the link to the Nash.Post reference to it last April:  http://www.nashvillepost.com/business/development/article/20482822/local-developer-plans-belmonthillsboro-townhome-project

Riding by it twice daily, I'd say it's not happening soon enough.

On 4/9/2015 at 4:41 PM, MLBrumby said:

I just checked out that corner, and the good thing is that there are two plain, small 1950s era ranchers there. So should not be any architectural loss. It's a great walkable neighborhood, and farther down Belmont there are some great old houses. This should help the streetscape a lot. 

 

On 4/9/2015 at 6:40 PM, rookzie said:

At least some of these "anachronistic" looking structures are starting to become displaced along that blvd.  It's more likely that an investor would acquire contiguous property lots and then to erect (hopefully) a more fitting structure, larger than the one or two buildings that it would replace, rather than it would be expected that a single-parcel owner would redevelop such land.  Many of these out-of-taste units had been allowed to be built some 4-to-6 decades ago, during the trend to "renew" and to modernize with simpler, cheaper materials and construction practices, resulting in obviously some outlandish and atrocious conflict of styles.

For the most part, the Belmont area has been able to maintain continuity through the ages, with old four-squares, bungalows, and a number of not-so-old Tudor revivals ─ a rich, diverse mix of Craftsman and Victorian artisanship.  During the last 2 decades, I have seen at least a couple of examples of a brand-new 4-square replacing an existing heavily deteriorated structure down to its foundation.  Unfortunately, zoning had allowed conversion of some stately old homes into multi-family-connected homes, perhaps either by latitude of existing zoning or by variance.  At least these old base house structures have been allowed to remain, while being somewhat thematically appropriate for that neighborhood.

My hope is that at some near point in time, an investor eventually will acquire that tacky Sun Entertainment studio and Sound Emporium, farther south, across Belmont from Christ the King and replace them with something less of an eyesore.

[BnaBreaker]

2 hours ago, MLBrumby said:

William Williams has the piece on the restaurant/bar that will go in one of the last remaining pre-war buildings on the "strip" between Division and Broadway, across the street from that row of al-fresco restaurants along Divison. http://www.nashvillepost.com/business/development/article/20488610/real-estate-notes-midtown-building-eyed-for-restaurant-use

 

Not sure which street Divison or Broadway this rendering faces. 

 

LOVE IT!  This, ladies & gentlemen, is adaptive reuse done right! 

Edited January 28, 2016 by BnaBreaker

[smeagolsfree]

The above is facing Broadway.

[titanhog]

4 hours ago, smeagolsfree said:

The above is facing Broadway.

Weird that it's facing Broadway when it seems all of the action is on Division.  Of course, that could change in time.

[markhollin]

Here's another rendering of The Jenkins (15 brownstone condos) at SW corner of Blair Ave. and Belmont Blvd.

 

[Nashville Cliff]

On 1/28/2016 at 0:37 PM, titanhog said:

Weird that it's facing Broadway when it seems all of the action is on Division.  Of course, that could change in time.

Really?  There's quite a bit of activity at and near 19th and Broadway.

[titanhog]

22 minutes ago, Nashville Cliff said:

Really?  There's quite a bit of activity at and near 19th and Broadway.

Not compared to what is going on right behind this.  Plus, I believe this is at least a block from 19th.  Go to google maps and look across the street on Division and pretty much right behind this is where all of the big Division bars are (Rebar, Winners, Losers, etc).   I've got to imagine there will at least be some kind of big entrance on the Division side when this is done.

Now...if all of the development happens where Noshville was, then this will be great.  Just wondering why they don't take advantage of what's literally going on right behind them.

[Nashville Cliff]

1 minute ago, titanhog said:

Not compared to what is going on right behind this.  Plus, I believe this is at least a block from 19th.  Go to google maps and look across the street on Division and pretty much right behind this is where all of the big Division bars are (Rebar, Winners, Losers, etc).   I've got to imagine there will at least be some kind of big entrance on the Division side when this is done.

Now...if all of the development happens where Noshville was, then this will be great.  Just wondering why they don't take advantage of what's literally going on right behind them.

Ah, thanks. I had this confused with the building next to Crye Lieke (across from Hattie B's).

[MLBrumby]

Panattoni is proposing another building like the Premier - ASCAP building, but 30% bigger, with 120,000 s.f.  It would be 6 stories and the site is 1 Music Circle South. 

From NBJ:   http://www.bizjournals.com/nashville/blog/2016/01/developers-encore-on-music-row-an-even-bigger.html

The 120,000-square-foot building would be welcome not just in Nashville, where the historically low amount of available space handcuffs companies that are trying to expand, but especially on Music Row, where the country music recording industry was born six decades ago. 

Somewhat related, but of a general nature. I asked my good friend, a banker in Atlanta, why there so few BIG office projects underway in the midst of strong demand. And he said without hesitation, it's FinReg (Dodd Frank). This has made bankers overly cautious. He admitted that financial reform was needed in the wake of the housing bubble and burst, but the result was the pendulum swinging in the far opposite direction. So what has happened is a preponderance of smaller NEW buildings, and lots of land speculation. The latter can be used much more easily as collateral and can be flipped faster.  He pointed out that the residential is more attractive for bankers because it's less speculative.  Notice the larger office towers in Nashville already have anchor tenants.  Personally, I think that's cautious, but he pointed out the effect is that developers are by nature risk-takers and the banks are now squelching a lot of that speculative building.  

Thoughts!? 

[Hey_Hey]

This will end up being 5 stories. Planning has recommended that these lots have a max height of 5 stories and must have a "transition zone" with the design in the back because of the residential neighborhood immediately behind.  I don't see the sense in studying Music Row for a year and then immediately allowing a variance in height.  

We're still under the "moratorium" for Music Row, and this project will require rezoning of one of the lots. I would suspect they will be forced to comply with the new plan, even if it hasn't become "final" yet. 

Edited January 29, 2016 by Hey_Hey