Inner Loop - CBD, Downtown, East Bank, Germantown, Gulch, Rutledge

[chris holman]

12 hours ago, markhollin said:

Chief's at 200 Broadway is now open, including the 400 capacity 2 level music theater called The Neon Steeple.  Eric Church will do a 19 show "To Beat the Devil" residency there starting yesterday. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/08/sushi-row-morgan-wallen-philippe-chow-restaurant.html
 

 

[smeagolsfree]

Now that Chiefs is open it made National news pretty quickly thanks to Morgan Wallen. It was all over the national news yesterday. Just put this ding dong in the dungeon if there is one and keep him there.

 

Morgan Wallen arrested on felony charges after allegedly throwing chair from rooftop (nypost.com)

[markhollin]

Downtown residential high-rise Capitol Towers  (12 stories, 219 units, 6 commercial spaces,  205 capacity internal garage) — the only non-government building located on the city's Capitol Hill — has a potential buyer.

The State of Tennessee is in preliminary efforts to acquire the building, a move that follows the bulk of the units having been listed for sale for an undisclosed asking price in January.

Opened in 1959 and sitting on approximately 1.83 acres in the shadow of the Tennessee State Capitol, the modernist 12-story building is located at 510 Gay St.

The state is considering potentially crafting an agreement that, if finalized, would allow it to purchase and sell the property. However, state officials declined to offer further details.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/state-could-acquire-downtown-residential-high-rise/article_12f5981a-f5f5-11ee-a499-a321cb52ba99.html

[smeagolsfree]

Why would the state want to buy when they are selling so many other buildings downtown. I would rather Metro buy it and convert to affordable housing. Maybe the state is buying to keep it from being converted to affordable in spite of Metro.  

The state does not need any more property period. They have plenty of parking lots to fiddle faddle with that are more of an eyesore. They will probably tear this down and do something stupid with the property.

[donNdonelson2]

16 minutes ago, smeagolsfree said:

Why would the state want to buy when they are selling so many other buildings downtown. I would rather Metro buy it and convert to affordable housing. Maybe the state is buying to keep it from being converted to affordable in spite of Metro.  

The state does not need any more property period. They have plenty of parking lots to fiddle faddle with that are more of an eyesore. They will probably tear this down and do something stupid with the property.

I’d like for the state to tear it down and restore Capitol Hill green space on that corner property.

[andywildman]

Don, you have a deal, with the condition that the State auctions off one parking lot parcel with 15+ story height allowances.

[smeagolsfree]

I just hate to see buildings taken down for the sole reason of taking them down if that is what they are going to do. It is  a waste.

[MidTenn1]

Meanwhile, across the street, per development tracker...

[BnaBreaker]

7 hours ago, MidTenn1 said:

Meanwhile, across the street, per development tracker...

Very solid!  About time that corner of downtown got some love and TLC!

[markhollin]

More info on the Blueprint Underground Cocktail Club opening this Spring in the 5,460 sq. ft. basement space of One Nashville Place, facing out towards Printer's Alley:

Named after The Blueprint Supply Co., which once stood where the club is opening, The Blueprint is meant to be an upscale cocktail lounge, nightclub and live music venue all in one. 

It will host events from fashion shows to DJ’s to singer-songwriters to chef’s. 

Developer Billy Dec partnered with Nashville-based Powell and nightclub designer Marc Dizon on the project.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/11/blueprint-underground-cocktail-club-billy-dec.html
 

[markhollin]

Iron Galaxy Studios has signed a lease for 25,694 sq. ft. at the AT&T tower. They had previously been in UBS Tower. They relocatd to Nashville in 2022, promising 100 new jobs. 

More at NBJ here:

https://www.bizjournals.com/nashville/inno/stories/news/2024/04/12/iron-galaxy-studios-batman-building-video-game.html

[markhollin]

The 1 story, 13,470 sq. ft. industrial structure built in 1928 at 720 Ewing Ave. (.6 acre) has been added into the Byran Fort and Taylor Preston properties t hat surround the T intersection of Middleton St. and Ewing Ave. in Pietown.  They paid $6.64 million for this section, and plan on converting the structures.   

A rendering of the building’s future form and function shows that the current hard-surface space located between the building and the sidewalk will be eliminated and redesigned with pedestrian spaces. Once finished, the building could accommodate retail and food/beverage businesses. Dryden Architecture + Design is handling the work.  Other entities to participate in the reinvention of 720 Ewing Ave. include Wilson Bank and Trust, Elliott Kyle (a broker with Equitable Property Company), Atlas Law and CBRE Project Management.

Fort and Preston have now invested  $37 million on all of these combined properties in the  last few years.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/investors-pay-6-64m-for-pie-town-building/article_f2d2b314-f901-11ee-bd2d-770f51da47d5.html
 

The area encircled in red shows the entire footprint that For and Preston now own:

[markhollin]

^ ^ ^ More about the Fort and Preston investment on the 720 Ewing site:

- The development will offer multiple outdoor dining patios, indoor dining and bars.

- Nashville’s Dryden Architecture + Design is handling the work.

- The sellers were members of the Pollock family, owners of Nashville-based printing company Pollock Printing. The family paid $228,240 for the 0.6-acre site in 2001. Fort and Preston paid them  $6.62 million for the property.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/15/investors-pie-town-retail-development-dining-buy.html
 

[Argo]

Is the Arcade open or still under construction.

[smeagolsfree]

I think it is still open and never closed but I am unsure how many businesses are still in there. It needed to be rehabbed, but the way they did it, IMO was a little questionable. It is going to take a long time for them to recoup their money.

[Luvemtall]

17 hours ago, markhollin said:

^ ^ ^ More about the Fort and Preston investment on the 720 Ewing site:

- The development will offer multiple outdoor dining patios, indoor dining and bars.

- Nashville’s Dryden Architecture + Design is handling the work.

- The sellers were members of the Pollock family, owners of Nashville-based printing company Pollock Printing. The family paid $228,240 for the 0.6-acre site in 2001. Fort and Preston paid them  $6.62 million for the property.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/15/investors-pie-town-retail-development-dining-buy.html
 

I have mixed emotions about this one. It’s a great reuse of older structures, although I’ve not heard of any historical evidence that would support it, just seems like an old building. So IMO it doesn’t do anything for urban density efforts, that area has way more potential to become a essential component to the overall urban landscape than to just reuse a old single story structure for businesses that can easily occupy a retail space of a much larger mixed use building. Remember think outside the box, not just the same old thinking of yesterday. 

[downtownresident]

26 minutes ago, Luvemtall said:

I have mixed emotions about this one. It’s a great reuse of older structures, although I’ve not heard of any historical evidence that would support it, just seems like an old building. So IMO it doesn’t do anything for urban density efforts, that area has way more potential to become a essential component to the overall urban landscape than to just reuse a old single story structure for businesses that can easily occupy a retail space of a much larger mixed use building. Remember think outside the box, not just the same old thinking of yesterday. 

As a counterpoint - this development would seemingly serve as a great node of activity and make the area more desirable for large investments on the other parcels. You need amenities to justify the high rents that the developers that build large towers need to justify the project. 

[Luvemtall]

Definitely hear your point, and that is true. I’m just saying that they could achieve that same objective, and create that activity even if it was incorporated into a larger scale project. Sort of like Capital View does, retail and hospitality on street level with even 7-10 floors of residential would make a bigger and better land use perspective inside the inner core then retaining a single story structure. Anywhere else outside of downtown would be a completely different story.

[PaulChinetti]

Hi-Wire Brewing does a great job of doing just that in the bottom of a residential project on Division.

[PaulChinetti]

Related to Hi-Wire it is a massive space with very high ceilings. There definitely is a market out there for much smaller places for smaller businesses to get their start. Not every business needs a massive place. 

I assume it's more expensive to build out 10 spaces instead of 1. And then deal with 10 separate leases. It's a definite need though. 

[Bos2Nash]

The most sustainable building is the one you do not build.

While the "density" could potentially infill here, there are so many variables that could lead a property owner to go this route.

• Their experience is only with smaller scale or F&B type spaces. 
• They are not interested in doing large scale development.
• They don't have the financing knowledge to get a large development financed.

I think @downtownresident hit the nail on the head in that this project provides a great PROXIMITY for the neighborhood. While it could benefit the neighborhood to bring in another big boxy development, refurbishing an existing building to bring these kinds of establishments to the neighborhood creates the proximity that makes up great neighborhoods. It can also be looked at as adding charm or character to the neighborhood instead of just another building with possible leasable space below. 

[markhollin]

107 4th Ave. North/Morgan Wallens' The Bar (6 story entertainment bar) update (courtesy of Mark Kelly Hall): signage up.

Looking SW from AT&T Building:

[downtownresident]

44 minutes ago, markhollin said:

107 4th Ave. North/Moran Whalens' The Bar (6 story entertainment bar) update (courtesy of Mark Kelly Hall): signage up.

Looking SW from AT&T Building:

I know that Broadway isn’t hurting for Country Music star theme bars, but I’m glad to see something built on that parking lot. That lot was always nasty/smelled awful when walking up 4th Ave. 

[Luvemtall]

Any bets on how long it will stay associated with MW? He will screw it up somehow, or be in jail , He just can’t help himself .

[markhollin]

900 Division St. (7 stories, 28 units, 3,222 sq. ft. of ground level retail, internal garage) has been granted a structural frame permit for ongoing construction.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/19/m-cubed-developments-mark-mcdonald-gulch-apartment.html

An updated rendering: