5th & Broadway | 501 Commerce | NMAAM | 34 story apt, 26 story office, + 183,000 sq. ft. of Retail

[smeagolsfree]

http://www.tennessean.com/story/money/real-estate/2015/01/28/nashville-convention-center-developer-need-new-extension-metro-says/22502585/

No extension needed for Spectrum /Emory project at old CC. Looks like this could start this year. I did see on Construction Wire a 4th quarter start date for the 400 million $ project.

[NashvilleTaylor]

Fantastic!

[Nathan_in_DC]

I *really* hope this happens. I somehow managed to miss those previous renderings.  This would make downtown even more of a go-to spot for visitors and people that don't live in the CBD, and its pedestrianized environment would likely help attract more residents.

 

If it keeps on track to look like those renderings, this will probably be my favorite development of the last few years.  Not only for the fact that the development itself is awesome, but for the fact that the old convention center just kills that side of Broadway.  Even when it was more active and had stuff going on, the way it addressed the street with big concrete walls just made it an unpleasant spot to be in, especially when contrasted with the vibrancy of the lower blocks and the other side of the street.

Edited January 30, 2015 by Nathan_in_DC

[Paramount747]

Well, my only question is who is going to finance $400,000,000.00 for a project with no pre-leases and pre-sales? That is a lot of coin to throw at a project like this. I am not sure with our tourism and amount of those living in the core, if we have enough people. Do we even know what banks are going to carry the paper on this?

 

This is as far from reality as the original Signature Tower or May Town Center was, but I will remain cautiously optimistic. This is where our IKEA should go. The amount of people that would be drawn downtown for that would be tremendous!

Edited January 30, 2015 by Urban Architecture

[BnaBreaker]

To be fair though, you never think any project is happening. ;-)

[NashRugger]

IKEA on Lower Broadway? Are you smoking crack?

[smeagolsfree]

Well, my only question is who is going to finance $400,000,000.00 for a project with no pre-leases and pre-sales? That is a lot of coin to throw at a project like this. I am not sure with our tourism and amount of those living in the core, if we have enough people. Do we even know what banks are going to carry the paper on this?

 

This is as far from reality as the original Signature Tower or May Town Center was, but I will remain cautiously optimistic. This is where our IKEA should go. The amount of people that would be drawn downtown for that would be tremendous!

I think you will have different investment groups John. It will probably be a very complicated project, financially speaking.

As far as IKEA, I would lay money it will not happen at this location.

[FromParkAveToTN]

IKEA! I really don't understand the allure. Am I missing something? Maybe I should go back to the store and look again because all I recall seeing was very cheap cheap cheap stuff.

[donNdonelson2]

I've enjoyed wandering the aisles of IKEA many times, but have ever only bought a plate of meatballs! Lots of interesting merchandise, but as you say, CHEAP.

[BnaBreaker]

That's kind of the point though. 

[fieldmarshaldj]

IKEA! I really don't understand the allure. Am I missing something? Maybe I should go back to the store and look again because all I recall seeing was very cheap cheap cheap stuff.

 

If that IKEA gets built, you'll never get your Fendi outlet !

[BnaBreaker]

 

 

If you need to check out a new spot, or just have a new spot that needs checked out, Nashville's hottest new nightclub is, LA CAVÉ.  This club has everything.  Slurpees, packing bubbles, smurfs, smurfettes, kool-aid jacuzzis, wet band-aids, MTV's Dan Cortese, Asbestos, cookie crisp, fabio's hair, bears juggling smaller bears, tickle me elmos, a russian guy on a prepaid cell phone, mole people, a broken toaster, geishas, expired Lunchables, and Spud Webb. 

Edited January 31, 2015 by BnaBreaker

[Nathan_in_DC]

That just made me giggle.

[Paramount747]

IKEA on Lower Broadway? Are you smoking crack?

Quit smoking substances back in the late 1980's! Seriously, some form of large retail would do well there for the tourist trade.

[smeagolsfree]

That site would not fit their model. They have a store in Atlanta that is semi urban with a huge parking lot and not a garage. The retail in that space would cater more to tourism and downtown residents. An IKEA is a destination retail locatio like, Bass Pro or Cabella's. It would not be a good fit at that location.

Not shooting you down on the IKEA, John, just that location. They will not spend the money to go into a location like that.

[dmillsphoto]

That site would not fit their model. They have a store in Atlanta that is semi urban with a huge parking lot and not a garage. The retail in that space would cater more to tourism and downtown residents. An IKEA is a destination retail locatio like, Bass Pro or Cabella's. It would not be a good fit at that location.

Not shooting you down on the IKEA, John, just that location. They will not spend the money to go into a location like that.

 

It has a parking garage and surface parking... but I digress, it's not going to work because they won't pay anywhere near that much per square foot.

[BnaBreaker]

Agreed...IKEA is nice, but I've never seen them do a store that wasn't the typical 'big box surrounded by surface parking' model, not even in urban locations.  I've seen IKEA's all over the world...Brooklyn...Brussels...Madrid...Bangkok...Shanghai...none of them deviate from this model.  Even ones in it's native Sweden.  I have no idea why, it makes no sense to me, but they don't.  So for that reason, it really wouldn't be a good fit for the site on Broadway.  Hell, for that reason, I doubt it would even physically FIT on the site on Broadway either!  haha

Edited February 3, 2015 by BnaBreaker

[Vrtigo]

Well, considering the product, it makes sense that parking gets a lot of priority. I envision customers having trouble getting that cheap sofa back to their micro-apartment if they took the bus to the store.

Edited February 3, 2015 by Vrtigo

[satalac]

IKEA has only one place where it needs to go, and that is at the old Hickory Hollow Mall. You talk about revitalization to go along with the Ford Ice Center and the library...

[smeagolsfree]

I think maybe the Beaman property across from the Mall that is about to be redeveloped by Oldacre, McDonald is a very likely location.

[NikOnder]

Well, considering the product, it makes sense that parking gets a lot of priority. I envision customers having trouble getting that cheap sofa back to their micro-apartment if they took the bus to the store.

 

I was thinking the same thing.

 

IKEA has only one place where it needs to go, and that is at the old Hickory Hollow Mall. You talk about revitalization to go along with the Ford Ice Center and the library...

 

This.....although I do think it's safe to say any chances of Ikea coming here at this point are dead in the water, anyway.

[satalac]

I was thinking the same thing.

This.....although I do think it's safe to say any chances of Ikea coming here at this point are dead in the water, anyway.

In the near future, I would agree. Long term, possibly. Either way it's Ikea's loss, not Nashville's.

[FromParkAveToTN]

YAY!!!! No Ikea. Hate that store.

[BnaBreaker]

YAY!!!! No Ikea. Hate that store.

 

yes we know.

[MetroTN]

IKEA has only one place where it needs to go, and that is at the old Hickory Hollow Mall. You talk about revitalization to go along with the Ford Ice Center and the library...

 

Brilliant! As is the other idea of across from the mall. 

 

Just up 24 for me is nice, too! 

Edited February 4, 2015 by MetroTN