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

[PaulChinetti]

Ahh I see what you are saying @nvestnbna. That would be nice.

How would you do that since they don't align, just add a lane or two on the right that would go straight through to mulberry instead of straight onto the on ramp?

 

[markhollin]

The state plans to seek permission to put its Citizens Plaza office building in downtown Nashville up for sale, according to General Services Commissioner Bob Oglesby.

At Monday's state budget hearings, Oglesby said he would ask the State Building Commission next month to authorize sale of that building by November 2018.

The 15-story, 244,957 square foot Citizens Plaza at 400 Deaderick St. has housed state offices for nearly 32 years. The roughly 800 employees who work there for three state agencies are expected to be moved out by the end of October 2018.

http://www.tennessean.com/story/money/real-estate/2017/11/08/state-seek-buyer-downtown-nashvilles-citizens-plaza-office-building/844623001/

 

[nvestnbna]

39 minutes ago, PaulChinetti said:

Ahh I see what you are saying @nvestnbna. That would be nice.

How would you do that since they don't align, just add a lane or two on the right that would go straight through to mulberry instead of straight onto the on ramp?

 

They almost align, it would just be a slight bend exit / diversion off the entrance ramp onto Mulberry past 4th Ave. There is probably no more than 100' of paving required. This then keeps you from having to make the right onto 2nd and left onto Ash crossing three lanes in the process. Coming from the south it is much easier to turn right on 4th , right on Oak, right on 6th to get into this area. 

right on 4th.tiff

Edited November 8, 2017 by nvestnbna

[wmaddbb2018]

1 hour ago, markhollin said:

The state plans to seek permission to put its Citizens Plaza office building in downtown Nashville up for sale, according to General Services Commissioner Bob Oglesby.

At Monday's state budget hearings, Oglesby said he would ask the State Building Commission next month to authorize sale of that building by November 2018.

The 15-story, 244,957 square foot Citizens Plaza at 400 Deaderick St. has housed state offices for nearly 32 years. The roughly 800 employees who work there for three state agencies are expected to be moved out by the end of October 2018.

http://www.tennessean.com/story/money/real-estate/2017/11/08/state-seek-buyer-downtown-nashvilles-citizens-plaza-office-building/844623001/

 

Where would these workers be relocated to?

[nvestnbna]

On 10/17/2017 at 8:49 AM, smeagolsfree said:

Demo permit issued for 5th South Storage buildings.

5th or 6th?

[smeagolsfree]

5th on the south side of Lafayette.

[nashwatcher]

1 minute ago, smeagolsfree said:

5th on the south side of Lafayette.

it's halfway gone already...any idea what they're replacing it with?

[PaulChinetti]

I guess just a taller storage unit. 

[markhollin]

BWSC (8 stories, 125,000 sq. ft. office space) update (pics courtesy of Adam Sichko).

Looking SW from intersection of 3rd Ave. South and Lea Ave:

 

Looking south from 8th floor:

 

Looking north from 8th floor:

[nashwatcher]

12 hours ago, PaulChinetti said:

I guess just a taller storage unit. 

 

Anybody think it's strange to have two 6 story storage buildings (3rd and Lindsley being built and 5th and Lafayette),  both supposed to be some of the biggest in Nashville, a stone throw from one another? Does SoBro need both of these?

[PaulChinetti]

Makes sense, most of these new apartments are pretty small and have limited storage.

One big walk in closet in the whole place, doesn't leave you much room to store anything.

[markhollin]

A 1.88-acre property  at 1512 2nd Ave. North in Germantown’s northern fringe has hit the market with an asking price of $5.3 million.

The property offers frontage on two sides along the Cumberland River Greenway. Two adjacent properties can be acquired which would add 1.28 acres for a collective redevelopment site of about 3.16 acres.

These lots are a block north of where the Germantown Union development is planned, one block to NW of the Hammer Mill development (u.c.), and one block to the NE of the brand new Peyton Stakes development.

Full story currently behind the paywall:

http://www.nashvillepost.com/business/development/article/20982433/notes-germantown-site-offered-for-53m

 

[markhollin]

A building long eyed for The Gulch at the T-intersection of 11th Avenue South and McGavock Street across from restaurant Kayne Prime now seemingly will be designed to offer a boutique hotel component.

If the project materializes, the building — previous designs for which were later scrapped — will sit on a surface parking lot at the T-intersection with McGavock Street and house an M Street Entertainment Group restaurant. 

A Metro document offers a permit name of 11 and M Hotel. No detailed images have been submitted to Metro and it is unclear how many floors the possible future building might rise.

http://www.nashvillepost.com/business/development/article/20982447/gulch-restaurant-building-project-could-offer-hotel

Here was the original rendering of the 2 story office structure that was being planned, but apparently now has greatly altered:
 

 

This screen shot from Smeagolsfree's excellent Development Map shows the location as the long stretch of land in teal in the center of the frame, along the western edge of the Gulch CSX tracks between Demonbreun and Broadway:

[smeagolsfree]

There should be more news next week, although I do have an idea of what is going to be built.

Stay tuned next week.

[MLBrumby]

An affiliate of Chicago-based hotel consulting and design firm The Gettys Group is the apparent suitor with a contract to buy a more than two-acre prime development site in downtown Nashville from the state. Last week, Chattanooga-based Compass Auctions & Real Estate LLC announced a just over $8.9 million winning bid for 450-460 James Robertson Parkway, which includes an office building that once housed the Tennessee Regulatory Authority. 
http://www.tennessean.com/story/money/real-estate/2017/06/30/chicago-hotel-consultant-design-firm-suitor-2-acre-downtown-nashville-state-property/441431001/

https://www.gettys.com/

[markhollin]

Hampton Inn SoBro addition (5 stories, 50 units) update.

Looking SE from intersection of 5th Ave. South and Molloy:

[memphian]

Well that Hampton Inn addition doesn’t look too bad. It kind of balances the building when you see it from this angle. I’m sure they wish they had 200 more rooms but they’re rather large for a Hampton Inn. The biggest is in Berlin (Alexanderplatz) and it  is just shy of 400 rooms.

[nashwatcher]

I have no clue how the hotel industry works but it seems to me like there are SO many hotels being built in SoBro. Questions in my head:

1) long term is there enough demand for all of them?

2) if the prices are $200-$400/night right now (just guessing), what do you expect it to level out out once all these are built and the supply is ample?

3) will having all these hotels up and down KVB and surrounding SoBro allow the area to feel vibrant?

Any thoughts on how all this plays out?

[MLBrumby]

Folks, don't forget this is all centered on the MCC, which has been crying for 2X more rooms for the past 5 years. Pipeline is helping them meet that need. 

[markhollin]

^ ^ ^ Nashwatcher: Answers to your questions...

1) Absolutely a long-term demand.  Our tourism industry is growing all the time.  We recently have passed New Orleans in tourism, believe it or not.  Also, as MLBrumby stated, the MCC will be able to draw a lot of the whopper conventions once we get another 4-5,000 hotel rooms (many of those are in the pipeline right now). On top of that, with more corporations moving into downtown like Bridgestone Americas and Hankook Tire, there will be business folks needing rooms.

2) I think the prices will come down a bit once more rooms are on line. And they will be adjusted seasonally and with high demand events, etc.

3) With all those hotels surrounding the MCC, t will definitely create a lot of extra foot traffic, with restaurants, clubs, and other entertainment venues doing bang-up biz. 

I believe there are going to be a few more major hotel announcements in the next couple of years to go along with the 27 that are either currently UC or about to happen. 

[markhollin]

A New York-based real estate private equity firm has paid $6.38 million for the half-acre North Gulch area site of a Gibson Brands Inc. warehouse building in its Nashville debut.

Somera Road Inc. and its investment partner, Miami-based private equity firm Tricera Capital, are working with the guitar maker on acquiring its non-core real estate assets.

"We're ecstatic about the growth of the Nashville market and the potential development prospects for the Gulch in particular," said Ian Ross, Somera's managing principal. "This is an infill location with exciting vertical redevelopment projects occurring on all sides."

The 1102 Grundy St. location of the 24,080-square-foot warehouse is part of a 1.62-acre portfolio of North Gulch area properties, which Gibson put up for sale last year. 

http://www.tennessean.com/story/money/real-estate/2017/11/14/guitar-maker-gibson-sells-gulch-area-warehouse-other-sales-pending/862044001/

http://www.nashvillepost.com/business/development/article/20982812/gibson-property-in-the-gulch-sells-for-64m

[markhollin]

Buffalo Trail Apartments (260 units on 18 acres) just south of Old Hickory Blvd. on Dickerson Rd. is about to break ground.

http://www.tennessean.com/story/money/real-estate/2017/11/15/260-unit-madison-area-project-next-up-affordable-housing-developer/864488001/


 

[markhollin]

The Paddock at Grandview (eight 3 story buildings with 240 units for workforce housing)  at Trinity Lane and I-65 North had it's grand opening yesterday.  Already 60% full.

http://www.tennessean.com/story/money/real-estate/2017/11/15/260-unit-madison-area-project-next-up-affordable-housing-developer/864488001/

 

[markhollin]

Work has started on the second and final phase of 4th & Garfield, a row-home community based in Salemtown.

A permit, valued at $1.88 million, has been issued to allow for the construction of eight residences. The address is 1618 Fourth Ave. North.

https://www.nashvillepost.com/business/development/article/20983156/work-starts-on-next-phase-of-salemtown-row-homes

 

[urbanplanet17]

On 11/13/2017 at 9:23 AM, memphian said:

Well that Hampton Inn addition doesn’t look too bad. It kind of balances the building when you see it from this angle. I’m sure they wish they had 200 more rooms but they’re rather large for a Hampton Inn. The biggest is in Berlin (Alexanderplatz) and it  is just shy of 400 rooms.

Yes, that was my first thought.

At least there's now a (almost) solid street wall