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

[markhollin]

BWSC Building (8 stories, 125,000 sq. ft.) update.  Open for 6 months now, at 90% capacity. 

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

[subkyle]

11 hours ago, smeagolsfree said:

Sorry you had such a hard time of it at that location.  I am sure it was difficult with the high rents to turn the profit you needed. Everyone seems to have a problem holding onto employees. I read some placces ard going so far as to offer full benefits for the dishwashers on up.

Thanks space. I was there almost open to close without paying myself the last six months just to maybe break even. I knew it was a gamble and that’s how business goes sometimes. I wouldn’t have gambled if I didn’t already have a good base of other locations. Honestly I hope the closing helped Potbelly because I know the first owner wasn’t doing great either. 

[Jamie Hall]

5 hours ago, subkyle said:

Thanks space. I was there almost open to close without paying myself the last six months just to maybe break even. I knew it was a gamble and that’s how business goes sometimes. I wouldn’t have gambled if I didn’t already have a good base of other locations. Honestly I hope the closing helped Potbelly because I know the first owner wasn’t doing great either. 

I have huge respect for anybody who takes the gamble and goes into business, and I absolutely make it a priority to support local businesses when I can. In fact I walked to that Subway in the Gulch about once a week when I worked down in the area. Loved going into Potbelly and Taziki's, too. That area is so incredibly walkable and active, but I can't even imagine how high rent would be on retail space down there. 

[Pdt2f]

18 hours ago, markhollin said:

BWSC Building (8 stories, 125,000 sq. ft.) update.  Open for 6 months now, at 90% capacity. 

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

None of the retail spaces seem to be occupied. I’ve walked by it a few times recently and there’s for-lease signs everywhere. Right now those retail spots are kind of isolated and awkward, but in a few years when the area fills in they’ll be in higher demand. 

[markhollin]

Third Ave. South Storage (6 stories) update.

Looking west along Lindsley Ave., 1/2 block east of 3rd Ave. South:

[Pdt2f]

13 hours ago, markhollin said:

Third Ave. South Storage (6 stories) update.

Looking west along Lindsley Ave., 1/2 block east of 3rd Ave. South:

They’ve been pouring a ton of concrete overnight at the 5th avenue storage building near this one. The 5th Avenue one looks impressively large. If only it wasn’t just a storage facility :-/

[markhollin]

5th Ave. South Storage (6 stories) update. Beginning 6th level.

Looking SW from intersection of Lafayette and Ash St:

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

[Mr_Bond]

On 9/14/2018 at 6:14 AM, subkyle said:

Thanks space. I was there almost open to close without paying myself the last six months just to maybe break even. I knew it was a gamble and that’s how business goes sometimes. I wouldn’t have gambled if I didn’t already have a good base of other locations. Honestly I hope the closing helped Potbelly because I know the first owner wasn’t doing great either. 

As the former owner of Bond Coffee Company, I have full empathy for you and stand in full agreement with you.  The owner of the Starbucks that replaced us has multiple locations in several cities and appears to own these as a hobby (don't know where his wealth came from).  If the landlord wanted businesses like ours, they would have made adjustments for us.  Instead they have brought in owners that have deep pockets.

[markhollin]

MetroCenter Holiday Inn Express (6 stories, 150 rooms, at 303 Clay Street) has landed a permit for foundational work.

[markhollin]

50 Lindsley Ave. (4 stories, 6 condos) update. Brick work nearly complete.

Looking NE from Lindsley Ave., 1/2 block east of Academy Place:

 

[Leif]

On 9/13/2018 at 6:26 PM, BnaBreaker said:

Huge respect to you for trying to make it work.  The Gulch badly needs businesses like yours that cater to residents instead of tourists and ritzy trend seekers who live somewhere else.  It's too bad the landlords are making it so tough.

I've been in the neighborhood pushing 6 years now and while I stay because the location is fantastic and I prefer to be in a high rise I've written it off as every becoming a fully realized livable neighborhood. Marketstreet is full on worthless, the tourists are like locusts anymore, and most people can't grow within the neighborhood so life events force them out (not saying everyone wants to stay but I'd like to know it is conceivable).

[Pdt2f]

4 minutes ago, Leif said:

I've been in the neighborhood pushing 6 years now and while I stay because the location is fantastic and I prefer to be in a high rise I've written it off as every becoming a fully realized livable neighborhood. Marketstreet is full on worthless, the tourists are like locusts anymore, and most people can't grow within the neighborhood so life events force them out (not saying everyone wants to stay but I'd like to know it is conceivable).

It would be tough to have like 3 or 4 kids and live in the Gulch. I think the area is really cool but it does have the feel of one of those neighborhoods that’s just kind of built for transient high earning singles or couples. A “Lofts @ Fill-in-the-blank” area with 400 square foot apartments, yoga studios, higher end restaurants, and the odd craft beer bar or clothing boutique. 

[AronG]

3 hours ago, Leif said:

I've been in the neighborhood pushing 6 years now and while I stay because the location is fantastic and I prefer to be in a high rise I've written it off as every becoming a fully realized livable neighborhood. Marketstreet is full on worthless, the tourists are like locusts anymore, and most people can't grow within the neighborhood so life events force them out (not saying everyone wants to stay but I'd like to know it is conceivable).

This is the tragedy of urban design that is American cities right now, and I guess for the foreseeable future. We need to allow Brooklyn-style brownstones in a massively bigger area to add any significant stock of housing with downtown proximity and more space than a high-rise studio apt. But every inch of land that is currently zoned for single-family houses is rabidly defended. Downtown areas are booming, but they're all bifurcating into high-rise areas for childless professionals and single-family house neighborhoods that are only affordable to the rich. Austin tried to do something about this with CodeNext and California tried SB 827 but they both crashed and burned. I guess Minneapolis is still active with the Neighbors for More Neighbors effort. And it seems like Portland and Seattle have had some success.

It's a shame, because it would be amazing to see Nashville's development if it was allowed to meet demand the way cities did that came of maturity pre-WW2 before restrictive zoning was prevalent.

[smeagolsfree]

Here is one that slipped through the cracks. 

 

This is on 9th Ave North past 65 in the Buena Vista Heights neighborhood. It is called Metro North.

 

[Guest]

Raised 2 boys in the CBID for 14 years with no issues....well the schools suck a$$, but no other issues. 

[markhollin]

The African Methodist Episcopal Church admin office sites totaling 1.9 acres at the intersection of Lafayette and 8th Ave. South (the southern quadrant of Music City Center Roundabout) is under contract to an unknown entity. According to a source, the buyer has a Nashville and California presence.  No closing date or price have been announced according to Avison Young, who brokered the deal, although it is known that the asking price last year was $20 million.  The parcel has been labeled "Circle South." Rumors are that it will be a hotel development.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21023160/sobro-site-near-roundabout-under-contract

 

[Guest]

Just hazarding a guess, but doesn't the entity Tower Investments have a strong presence in CA and Nashville? They have been somewhat quiet of late. However, I do not believe Hotels are a speciality of theirs....maybe just land banking the property? But an expensive land bank holding if true unless they were assembling an even larger holding of surrounding parcels.

[smeagolsfree]

Thats not the group we are hearing. If its who we think, they have no track record that we can see.

[Guest]

Interesting, $20 M with no track record? Maybe a shell or JV. Lots of land so not a boutique hotel. Are we missing any large flags in the core?

 

42 minutes ago, smeagolsfree said:

Thats not the group we are hearing. If its who we think, they have no track record that we can see.

 

[smeagolsfree]

1 hour ago, nashville_bound said:

Interesting, $20 M with no track record? Maybe a shell or JV. Lots of land so not a boutique hotel. Are we missing any large flags in the core?

 

 

From the research I did, I sort of came to same conclussion, but we are not sure of the buyer 100% yet.

Plenty of flags left. Room for duplicates too.

St, Regis, Crown Plaza, IHG, and tons of smaller brand luxery brands too.

[smeagolsfree]

Ramada Resorts by wyndam too.

Here ya go.

 

https://en.m.wikipedia.org/wiki/List_of_chained-brand_hotels

[Pdt2f]

That seems like a ton of land for one hotel. Hopefully they go with a multi-tower (as far as zoning restrictions allow) mixed-use project. This could do a lot to help connect the Southwest part of Sobro to the eastern part of the Gulch if done right. 

[Guest]

2 hours ago, smeagolsfree said:

St, Regis, Crown Plaza, IHG, and tons of smaller brand luxery brands too.

Love it. You are a beast.
I would be surprised by a St Regis in that area. I have IHG going into BroadWest (unconfirmed).  Crown Plaza would fit in there well.  I could see a Conrad (Hilton) Hotel at that location. 

It is such a large land area (my guess is two full blocks) and the price so expensive that I envision a big announcement...hopefully soon.
 

[smeagolsfree]

You know me. Give me a task to research and I will have it done in about two minutes if I don't get distracted by the squirrels and dog toys.

[smeagolsfree]

Two hotels that have long wanted a presence here would be Peabody and Ritz Carlton. My thoughts is that BroadWest could be a Ritz because of the luxury residences that would be associated with the development.

I just don't think IHG will go there. They will want to be closer to the action thus the roundabout.