Davidson East: East Nashville, Inglewood, Madison, Donelson, Hermitage, Old Hickory

[markhollin]

Chris Lee and Nashville Cliff:  Indeed, those two projects you mentioned at the bottom of the previous page on this thread are filling out nicely.  Took these shots over the weekend.

The Cleo Apartments (5 stories, 291 units), looking west on Maxwell Avenue near Gallatin Rd:

 

The Cleo Apartments (5 stories, 291 units), looking south from West Eastland at corner of Bailey St:

 

The Cleo Apartments (5 stories, 291 units), looking east from West Eastland at corner of Bailey St:

 

The Cleo Apartments (5 stories, 291 units), looking west from West Eastland:

 

The Eastland Apartments (5 stories, 53 units), looking NE from intersection of West Eastland and Bailey St:

 

The Eastland Apartments (5 stories, 53 units), looking east from intersection of West Eastland and Bailey St:

[Vrtigo]

3 hours ago, WebberThomas4 said:

The Rite Aid in front of The Eastland is undergoing $219,000 of interior renovations. 

A shame. The best thing they could have spent that money on was to plow a realigned Eastland right through the middle of it.

[Nashville Cliff]

1 hour ago, Vrtigo said:

A shame. The best thing they could have spent that money on was to plow a realigned Eastland right through the middle of it.

Agreed.  At least there is a realignment plan in the works, though not as clean as it could have been without the drugstore in the way.

[Chris Lee]

1 hour ago, Nashville Cliff said:

Agreed.  At least there is a realignment plan in the works, though not as clean as it could have been without the drugstore in the way.

Anywhere we can see the Eastland intersection realignment plan?

[WebberThomas4]

18 hours ago, Chris Lee said:

Anywhere we can see the Eastland intersection realignment plan?

http://www.nashville.gov/Portals/0/SiteContent/Planning/docs/CommPlans2015/next-vol3-EastNashville.pdf

Pages 63-66 of the East Nashville Community Plan.

[AronG]

On 6/17/2016 at 7:48 PM, Neigeville2 said:

I found the deed in question, it has a page with an extensive list of restrictions.  I haven't attached a PDF before, hopefully this works.

walmart restr.pdf

Thanks for digging this up, and forgive me for being daft, but can somebody elaborate on this capability? Is it really true that someone can buy a property, attach any arbitrary clause to the deed restricting how it can be used, then resell it and that restriction stays in place FOREVER? Are there no limits to the type of restrictions they can add? Is there no way to remove the restriction?

This is really infuriating to me as a resident of the neighborhood. OK, so walmart's business plan didn't work at that location. There aren't that many spots available with that kind of footprint, and I was looking forward to seeing someone else take a stab at it. Instead walmart just casually poisons the deed on their way out and at the stroke of a pen we're restricted forever to self-storage and small-retail uses that don't take advantage of the scale?

[PruneTracy]

1 hour ago, AronG said:

Thanks for digging this up, and forgive me for being daft, but can somebody elaborate on this capability? Is it really true that someone can buy a property, attach any arbitrary clause to the deed restricting how it can be used, then resell it and that restriction stays in place FOREVER? Are there no limits to the type of restrictions they can add? Is there no way to remove the restriction?

This is really infuriating to me as a resident of the neighborhood. OK, so walmart's business plan didn't work at that location. There aren't that many spots available with that kind of footprint, and I was looking forward to seeing someone else take a stab at it. Instead walmart just casually poisons the deed on their way out and at the stroke of a pen we're restricted forever to self-storage and small-retail uses that don't take advantage of the scale?

The restriction on grocery and discount store uses lasts for only 25 years; the perpetual restriction only applies to bars, strip clubs, adult bookstores, etc. (Hear those sirens? It's the Fun Police.)

This property is known as a defeasible estate. What's happened is that Walmart, who owned this property free and clear, retains a future interest on it when they sold to SpaceMax. If SpaceMax, or future holders, use the property in a manner that violates the restriction, Walmart has a right to either sue the holder for damages or to reclaim the title to the property. (But that doesn't mean it happens automatically, just that Walmart can do it through affirmative action.)

Some states have legislation limiting future interests on property, and a lot of people don't like the idea of them. But they aren't all bad. If you rent your house out, you retain a future interest on it per your lease agreement. It's like the private version of zoning law. Even Walmart's keeps skeezy businesses out of your neighborhood.

As to how it goes away, look at it like this: it cost Walmart some amount of money to retain this future interest. Nominally it's the difference in sale price between this property and an identical unencumbered property, but to Walmart it's the increased profit they realize from not having a competitor (or adult establishment, apparently) at this specific location. Either way, this future interest has a discrete value. So if SpaceMax, or a future holder, wants to build a grocery store or a strip club, all they have to do is buy that interest.

[markhollin]

First rendering of Cayce Homes redevelopment released.  From today's Nashville Post:

The Metro Development and Housing Agency has released images related to the next phase of its Envision Cayce project in East Nashville. Nashville-based Smith Gee Studio is handling design work and land planning, with the company in the early stages of the effort. Modifications to the designs are expected, said Scott Morton, a Smith Gee architect.

The 15-building project, for which a spring 2017 start is being eyed, will be located on about 4.8 acres currently part of Kirkpatrick Park on the eastern fringe of the Envision Cayce site. It will be bordered by Sylvan Street on the north, South Ninth Street on the east, South Eighth Street on the west and the park on the south.

For the phase, which has a working name of Kirkpatrick Park, Hawkins Partners is overseeing landscape architecture, with Barge Cauthen and Associates serving as the civil engineer.

The Envision Cayce Master Plan could carry an eventual price tag of $602 million and calls for the replacement of Cayce’s (and CWA’s) low-income units with 2,390 total units — 968 of them for low-income residents, 358 that are considered affordable and 1,064 that would be rented at market rates (the numbers could change, MDHA has said). It would also eventually include 300,000 square feet of space for retail, a grocery and pharmacy, and community amenity space for a library and new police station. Eleven acres of mini parks and open space also would be created. Currently, the 70-unit Cayce Place Apartments building is under construction.

 

[AronG]

30 minutes ago, PruneTracy said:

The restriction on grocery and discount store uses lasts for only 25 years; the perpetual restriction only applies to bars, strip clubs, adult bookstores, etc. (Hear those sirens? It's the Fun Police.)

This property is known as a defeasible estate. What's happened is that Walmart, who owned this property free and clear, retains a future interest on it when they sold to SpaceMax. If SpaceMax, or future holders, use the property in a manner that violates the restriction, Walmart has a right to either sue the holder for damages or to reclaim the title to the property. (But that doesn't mean it happens automatically, just that Walmart can do it through affirmative action.)

Some states have legislation limiting future interests on property, and a lot of people don't like the idea of them. But they aren't all bad. If you rent your house out, you retain a future interest on it per your lease agreement. It's like the private version of zoning law. Even Walmart's keeps skeezy businesses out of your neighborhood.

As to how it goes away, look at it like this: it cost Walmart some amount of money to retain this future interest. Nominally it's the difference in sale price between this property and an identical unencumbered property, but to Walmart it's the increased profit they realize from not having a competitor (or adult establishment, apparently) at this specific location. Either way, this future interest has a discrete value. So if SpaceMax, or a future holder, wants to build a grocery store or a strip club, all they have to do is buy that interest.

Very illuminating, thanks. I didn't see the 25 year limit, still pretty depressing... Private zoning seems like a good analogy, and it sounds like a terrible concept for neighborhood fabric. Basically, in this case walmart has paid (via a discounted sale price) to obstruct that building from being used for what is likely it's highest and best purpose for the neighborhood. I guess you're saying that a future buyer could always try to buy that right back from walmart, but it seems clear they wouldn't sell it for market value (otherwise they would have done so with this sale).

Anyway, thanks for the explainer, I guess I'll go buy some more possessions now that I know we'll have plenty of storage space to rent for the next 25 years.

[grilled_cheese]

East Side Music Supply has (been there a few weeks already) quietly moved into the old Black Bird Emporium at the corner of Gallatin/Trinity.

[WebberThomas4]

Is it true that they are going to start repaving Main/Gallatin soon? 

[markhollin]

More East Nashville updates.

The Hill Center at Five Points (mixed use).  Looking southwest along Woodland Ave. near intersection with Russell:

 

10th and Russell Condos (10 units). Artist rendering looking north at intersection of 10th and Russell:

 

10th and Russell Condos, looking east along Russell:

 

10th and Russell Condos.  Looking SE along 10th Street North:

 

Farrow at Five Points (2 & 3 story town homes and retail on corner).  Looking NE at corner of Russell and 10th Street North:

[Rockatansky]

On 6/25/2016 at 2:30 PM, WebberThomas4 said:

Is it true that they are going to start repaving Main/Gallatin soon? 

As I understand it, yes.

On 6/24/2016 at 2:06 PM, markhollin said:

new police station

Anyone know if this will replace the relatively new station on Trinity? Or act as some sort of sub-station?

[WebberThomas4]

https://epermits.nashville.gov/#/permit/3252714?page=1&searchText=1530 Riverside&searchCode=ADDR&searchType=permit&orderBy=permitNumber DESC

Renovation permit ($2 million) for the church on the corner of Riverside and Porter. Will be the new offices of SnapShot Interactive. 

[markhollin]

Two more renderings of the 10th and Russell condos shown several posts above:

 

[markhollin]

Pinnacle Hospitality begins work on a 125-room Residence Inn on 4.4 acres near Opryland:

http://www.bizjournals.com/nashville/news/2016/06/27/opryland-hotel-one-of-many-for-this-developer-in.html

 

[grilled_cheese]

On 6/25/2016 at 2:30 PM, WebberThomas4 said:

Is it true that they are going to start repaving Main/Gallatin soon? 

They've been doing a lot of repaving on Gallatin North of Main for the last few weeks.

[WebberThomas4]

33 minutes ago, grilled_cheese said:

They've been doing a lot of repaving on Gallatin North of Main for the last few weeks.

I actually reached out to public works and they are repaying from Eastland to Hart Lane. Theyve started to rip up old pavement heading north between Eastland and Douglas.

[Nashville Cliff]

On June 24, 2016 at 2:06 PM, markhollin said:

First rendering of Cayce Homes redevelopment released.  From today's Nashville Post:

The Metro Development and Housing Agency has released images related to the next phase of its Envision Cayce project in East Nashville. Nashville-based Smith Gee Studio is handling design work and land planning, with the company in the early stages of the effort. Modifications to the designs are expected, said Scott Morton, a Smith Gee architect.

The 15-building project, for which a spring 2017 start is being eyed, will be located on about 4.8 acres currently part of Kirkpatrick Park on the eastern fringe of the Envision Cayce site. It will be bordered by Sylvan Street on the north, South Ninth Street on the east, South Eighth Street on the west and the park on the south.

For the phase, which has a working name of Kirkpatrick Park, Hawkins Partners is overseeing landscape architecture, with Barge Cauthen and Associates serving as the civil engineer.

The Envision Cayce Master Plan could carry an eventual price tag of $602 million and calls for the replacement of Cayce’s (and CWA’s) low-income units with 2,390 total units — 968 of them for low-income residents, 358 that are considered affordable and 1,064 that would be rented at market rates (the numbers could change, MDHA has said). It would also eventually include 300,000 square feet of space for retail, a grocery and pharmacy, and community amenity space for a library and new police station. Eleven acres of mini parks and open space also would be created. Currently, the 70-unit Cayce Place Apartments building is under construction.

Talented team.

7 hours ago, markhollin said:

Two more renderings of the 10th and Russell condos shown several posts above:

 

Not even built yet, and the LDS missionaries are already working the area.

[markhollin]

Events center planned for Maybelle Carter's former home in Madison:

http://www.tennessean.com/story/money/real-estate/2016/06/28/events-center-eyed-maybelle-carters-madison-homesite/86489052/

[markhollin]

Even more East Nashville construction.

Eastland Heights, 5 stories, 249 units. Looking SW from corner of Woodland and 5th Street:

 

Eastland Heights looking south along 5th Street at Woodland interchange:

 

Eastland Heights looking west along Woodland from 5th Street interchange:

 

The Wabash lot being excavated from former Fluffo Mattess building.  Looking SW from the alley that runs between Main St. and Woodland St:

 

The Wabash looking west from alley between Main St. and Woodland St:

[WebberThomas4]

6 minutes ago, markhollin said:

Even more East Nashville construction.

Eastland Heights, 5 stories, 249 units. Looking SW from corner of Woodland and 5th Street:

 

Eastland Heights looking south along 5th Street at Woodland interchange:

 

Eastland Heights looking west along Woodland from 5th Street interchange:

 

The Wabash lot being excavated from former Fluffo Mattess building.  Looking SW from the alley that runs between Main St. and Woodland St:

 

The Wabash looking west from alley between Main St. and Woodland St:

It's amazing how fast they've put up the parking garage at Eastland Height. They store all the preformed concrete pieces on a lot off S 5th St and bring them to the site when needed - very effecient. Are they building around the Allinder Plumbing building? 

[WebberThomas4]

http://sinkerswineandspirits.com/blog/june-2016/sinkers-is-building-a-larger-store!

Sinkers is expanding to 20,000 sq ft and is redoing the exterior of the entire shopping center.  

[grilled_cheese]

2 hours ago, WebberThomas4 said:

http://sinkerswineandspirits.com/blog/june-2016/sinkers-is-building-a-larger-store!

Sinkers is expanding to 20,000 sq ft and is redoing the exterior of the entire shopping center.  

Hell yeah!

 

So does that mean they are going to extend North into the old flower shop at the corner of Gallatin and Shelton?

[WebberThomas4]

22 minutes ago, grilled_cheese said:

Hell yeah!

 

So does that mean they are going to extend North into the old flower shop at the corner of Gallatin and Shelton?

That's what it sounds like. They bought that property in 2014 and there was a zoning appeal a couple of weeks ago. 

Frugal of the east.