Gulch Union (Endeavor Demonbreun): 3 towers (20 story/329,000 s.f. office, twin 28 story residential buildings)

[smeagolsfree]

No tiny home being constructed right now. Not everyone is sold on tiny homes, and I think that percentage of populations that will buy a tiny home is a small % of the market.  This is the current market big boy apartments that are already built we are talking about and not Mom & Pops. I do not think there will be any changes to zoning laws to affect rents as that will be deemed unconstitutional by the state as rent control so your arguments on this front are mute.

Rental vacancy rates in the core are approaching 17% in the core and 10% elsewhere with more apartments coming online and more under construction. There will at least be a rent reduction and right now there are a lot of incentives for rents in leu of lower rents. When those do not work rent reductions are next. Yes, there will be more renters because folks are not buying homes because of higher interest rates but a lot of those folks are already in apartments already and just waiting or are looking for the best rent deal they can find.

[Luvemtall]

Plus let’s remember, that a lot of folks moving into  Nashville and Downtown specifically come from areas that have substantially higher rates than here. What y’all think are astronomical prices, are bargains compared with other cities. One bedroom apartments with about half the size of some being built here are more than double in places like New York and California. 

[Armacing]

8 hours ago, smeagolsfree said:

 I do not think there will be any changes to zoning laws to affect rents as that will be deemed unconstitutional by the state as rent control so your arguments on this front are mute.

I meant changes to  zoning to allow for building more density, not rent control.  Rent control is definitely not going to happen, nor should it because it would only restrict the supply of housing further.

The only answer to high prices is to increase the supply, because the demand for housing is not going to go down.

The thing about all that new rental capacity coming online now is it is priced on the high end of the market.  Nobody is building low-budget rental properties today.  They are building luxury units in massive complexes with lots of amenities.  Those new properties will definitely be focused on ROI and maintaining the value of their investment, which I see as a strong disincentive to lowering the rental rates.  I think their tolerance for vacancy is higher than you think.

[markhollin]

The Pullman at Gulch Union (28 stories, 310 condos, ground level retail, internal garage) update: glass installation up to 26th floor; screening over parking pedestal on south side nearly complete.

Looking NW from intersection of Demonbreun and 12th Ave. South:

Looking NE from Demonbreun, 1/2 block east of 13th Ave. South:

[markhollin]

The Pullman at Gulch Union (28 stories, 310 condos, ground level retail, internal garage) update: glass installation up to 27th floor; screening over parking pedestal on south side complete.

Looking NW from intersection of Demonbreun and 12th Ave. South:

[markhollin]

The Pullman at Gulch Union (28 stories, 310 condos, ground level retail, internal garage) update.

Looking SW from 12th Ave. South, 1/2 block north of Demonbreun:

Looking NW from intersection of Demonbreun and 12th Ave. South:




Looking NE from Demonbreun, 1/2 block east of 13th Ave. South:

[nashville born]

She's taking shape nicely!  12th Street cluster is on the move.  

[markhollin]

New website for Pullman at the Gulch:

https://pullmannashville.com/?utm_term=nashtoday&utm_campaign=daily-newsletter&utm_medium=newsletter&utm_source=nashtoday&utm_content=nashtoday

[markhollin]

The Pullman at Gulch Union (28 stories, 310 condos, ground level retail, internal garage) update.

Looking SW from 12th Ave. South, 1/2 block north of Demonbreun:

Looking NW from intersection of Demonbreun and 12th Ave. South:




Looking NE from Demonbreun, 1/2 block east of 13th Ave. South:

[Sean blackdog]

When tower crane take down? 

[MontanaGuy]

4 hours ago, Sean blackdog said:

When tower crane take down? 

I was surprised at how fast it happened too because I can see the top of the building from my living room but I missed it completely!  It wasn't very long ago though because I remember wondering recently when it was going to happen and then one day it was suddenly gone! 

[Melrose]

I believe they were doing it last Friday evening....

[Sean blackdog]

Yesterday evening. 

[markhollin]

The Pullman at Gulch Union (28 stories, 310 condos, ground level retail, internal garage) update.

Looking SW from Broadway Viaduct where it crosses over CSX tracks:

Looking south from McGavock St., 1/4 block west of 12th Ave. South:

Looking NE from Demonbreun St., 1/2 block east of 13th Ave. South:

Looking NW from 11th Ave. South, at Laurel St:

Looking west from intersection of Demonbreun St. and 10th Ave. South:

[Sean blackdog]

Today this evening. 

[nashville born]

I'm a little disappointed that the glass doesn't appear as dark as it does in the render.  Am I missing something?

[markhollin]

The Gulch Union office tower (20 stories) announces that RPM Living, one of the nation's Top 5 apartment management companies, is opening a regional office covering 6,790 sq. ft. with 32 work stations to serve the 170 employees they have in the area. 

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/apartment-management-giant-opens-downtown-nashville-office/article_1b6a13e4-ba3c-11ee-803b-3b882b337662.html

[nashville born]

6 hours ago, markhollin said:

The Gulch Union office tower (20 stories) announces that RPM Living, one of the nation's Top 5 apartment management companies, is opening a regional office covering 6,790 sq. ft. with 32 work stations to serve the 170 employees they have in the area. 

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/apartment-management-giant-opens-downtown-nashville-office/article_1b6a13e4-ba3c-11ee-803b-3b882b337662.html

 

I love seeing posts like this one telling of another outfit filling new downtown office space.  Like the old African proverb: little by little fills the bucket.  And at some point, the water level will spur more buckets (looking at you 1001 Church).

[Bos2Nash]

I think this is an interesting insight into how some smaller companies may utilize their space in the future. If my math is correct (not always a given with me haha), even if a different 32 employees came each day, they still wouldn't have space for 10 of their employees. It's almost like co-working, but within your own space haha

[Melrose]

10 minutes ago, Bos2Nash said:

I think this is an interesting insight into how some smaller companies may utilize their space in the future. If my math is correct (not always a given with me haha), even if a different 32 employees came each day, they still wouldn't have space for 10 of their employees. It's almost like co-working, but within your own space haha

Even larger companies are planning in this manner,  with few or no designated offices/cubes and a plan that individual employees are only in 2-3 days a week in a staggered manner....

[Bos2Nash]

1 hour ago, Melrose said:

Even larger companies are planning in this manner,  with few or no designated offices/cubes and a plan that individual employees are only in 2-3 days a week in a staggered manner....

100%. We have seen some large companies, like Amazon, call for their return to office. But other companies are definitely going this route. Will vary from industry to industry as to what kind of work is actually conducive to this level of variability. 

[markhollin]

The Pullman at Gulch Union (28 stories, 310 condos, ground level retail, internal garage) update: glass installation 99% complete.

Looking south from 12th Ave. South. 1/2 block north of McGavock St:

Looking NW from intersection of 12th Ave. South and Demonbreun St:

Looking NE from Demonbreun St., 1/2 block east of 13th Ave. South:

[MidTenn1]

Did these developers accidentally reveal a rendering for the third tower in the development? Looks good at 33 floors!

From YouTube!  

 

[markhollin]

30 minutes ago, MidTenn1 said:

Did these developers accidentally reveal a rendering for the third tower in the development? Looks good at 33 floors!

From YouTube!  

 

Very interesting.  The last iteration we had showed a twin to the Pullman.  Really like this look of this one.

[subkyle]

Love those arch windows at the top of the building! I hope this is true