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

[wmaddbb2018]

A https://www.ajc.com/blog/politics/the-banking-capital-that-georgia-lawmakers-created-charlotte/BZlZDofq4UNUGulK46dQDJ/

 

While this article doesn’t discuss Nashville it is mainly about how banking came to be so prominent in our sister city Charlotte. Charlotte is my hometown, and as someone who was born in 86, I witnessed first hand growing up blocks from downtown Charlotte all of the new buildings Bank of America and Wells Fargo (then Nations Bank and Wachovia) built. As much as Nashville has it going on right now, I think we really need to try and step it up in the banking world. This is incredibly easy to say and very difficult to do. Our largest hometown bank Pinnacle has about 25 billion in assets. It sounds like a lot, but in the banking world, it’s peanuts.  By comparison BofA is 50 times larger with over 1 trillion in assets. 

I say all of this to say, I hope in the next 10 years Pinnacle hits tjat 35-45 billion mark in assets and that we don’t get sold to one of the bigger boys. I don’t have any knowledge one way or another as to whether shareholders will eventually consider it or if we plan on continuing slow growth. I know Pinnacle is reaching for new markets and I hope Nashville can slowly continue to build its credibility in the banking industry. Any insight would be greatly appreciated. 

Edited February 25, 2019 by wreynol4

[Pdt2f]

50 minutes ago, wreynol4 said:

A https://www.ajc.com/blog/politics/the-banking-capital-that-georgia-lawmakers-created-charlotte/BZlZDofq4UNUGulK46dQDJ/

 

While this article doesn’t discuss Nashville it is mainly about how banking came to be so prominent in our sister city Charlotte. Charlotte is my hometown, and as someone who was born in 86, I witnessed first hand growing up blocks from downtown Charlotte all of the new buildings Bank of America and Wells Fargo (then Nations Bank and Wachovia) built. As much as Nashville has it going on right now, I think we really need to try and step it up in the banking world. This is incredibly easy to say and very difficult to do. Our largest hometown bank Pinnacle has about 25 billion in assets. It sounds like a lot, but in the banking world, it’s peanuts.  By comparison BofA is 50 times larger with over 1 trillion in assets. 

I say all of this to say, I hope in the next 10 years Pinnacle hits tjat 35-45 billion mark in assets and that we don’t get sold to one of the bigger boys. I don’t have any knowledge one way or another as to whether shareholders will eventually consider it or if we plan on continuing slow growth. I know Pinnacle is reaching for new markets and I hope Nashville can slowly continue to build its credibility in the banking industry. Any insight would be greatly appreciated. 

I don’t think stepping it up in the banking world is advisable or necessary, beyond what we already do. We’re doing just fine without being a big banking player, and the industry is waaaaaay too volatile and chaotic for me to want a big chunk of Nashville’s economy tied up in it. You think it’s a stable industry and then - bam! - you get a 1987, 1998, 2001, or 2008, and lose billions of dollars in tax revenue and thousands of jobs. No thanks. 

 

I fully admit that as someone who was entering the job market before and during the Great Recession, I have an instinctive distrust of banks (not including credit unions). 

[markhollin]

Some more info on the First Baptist Church expansion plans ($34 million, 3 stories) that would include a public coffeehouse facing Broadway, new fellowship hall,  contemporary worship space, counseling center, recovery group spaces, etc.  for the SW corner of Broadway and 6th Ave. South. Was approved by congregation last Sunday.  There will also be updates made to the main sanctuary.

R.C. Matthews will be the contractor.  They have landed an $11 million loan (undisclosed) to get started. The church will start a capital campaign as well.  Parking lot revenue, in large part, will be used to retire the debt on the loan, church officials said.

http://nashvillefirst.org/Forward200/

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21048644/longplanned-sobro-church-project-set-to-beg

Video to church members about the plans:

Looking SW from intersection of Broadway and 6th Ave. South:

Looking north from McGavock St., near intersection with 7th Ave. south:

Looking NW from intersection of MacGavock and 6th Ave. South:

 

This screen snot from Smeagolsfree's excellent development map shows the location of the expansion highlighted in teal at center of the frame:
 

[MLBrumby]

Looks fine. Nothing spectacular, and I understand they have a mission that does not include glitzy buildings. But seriously, would it have broken their budget to do a classic design. $34M is a LOT of money. This angular, plate-glass and multi-veneer looks has just become so cliche. 

[PaulChinetti]

Seems like for $34 million, they could have sold the current property, bought a little farther out and had more money then they would have known what to do with.

@MLBrumby agreed, that exterior design is going to look super dated in a few years.

[TheRaglander]

Not sure if this was already posted but they're finally widening the sidewalk between 3rd and 2nd on the north side of Broadway.  They will be putting in the "crotch-busting columns" for the drunk tourists as well.  

[Bos2Nash]

2 hours ago, markhollin said:

Some more info on the First Baptist Church expansion plans ($34 million, 3 stories) that would include a new fellowship hall,  contemporary worship space, counseling center, recovery group spaces, etc.  for the SW corner of Broadway and 6th Ave. South. Not sure if the public coffeehouse with performance stage is still part of the vision or not. There will also be updates made to the main sanctuary.

R.C. Matthews will be the contractor.  They are working on finding the right financing plan.

http://nashvillefirst.org/Forward200/

Video to church members about the plans:

Looking SW from intersection of Broadway and 6th Ave. South:

Looking north from McGavock St., near intersection with 7th Ave. south:

Looking NW from intersection of MacGavock and 6th Ave. South:

1 hour ago, PaulChinetti said:

Seems like for $34 million, they could have sold the current property, bought a little farther out and had more money then they would have known what to do with.

@MLBrumby agreed, that exterior design is going to look super dated in a few years.

1 hour ago, MLBrumby said:

Looks fine. Nothing spectacular, and I understand they have a mission that does not include glitzy buildings. But seriously, would it have broken their budget to do a classic design. $34M is a LOT of money. This angular, plate-glass and multi-veneer looks has just become so cliche. 

I like the overall design of this one. The modern addition added on to the classic church structure shows a nice blend of new and old. Having a presence downtown is imperative to some churches keeping their congregation together and I don't blame them for wanting to hold on to their property.  A big portion of this design working is the execution of materials and finishes, I'm glad a group like RC Matthews has been hired and not a small group that could get in over their heads. I especially enjoy the amount greenery that is being shown behind the church, should soften that "hole" up nicely.

@Skyscrapergeek, who is the architect of this project (if you dont mind sharing of course)? I have not been able to find the info anywhere.

 

1 hour ago, TheRaglander said:

Not sure if this was already posted but they're finally widening the sidewalk between 3rd and 2nd on the north side of Broadway.  They will be putting in the "crotch-busting columns" for the drunk tourists as well.  

I noticed this last week during the Moxy media day. Are we anticipating this going all the way to 1st ave? I presume the intent and no rush is to have it done for the NFL Draft?

[Mr_Bond]

On 2/22/2019 at 3:51 PM, markhollin said:

The development that includes The Inn at Fontenel, Carl Black Chevy Wood Amphitheater, Prichard’s Distillery, Natchez Hills Winery and Tasting Room, Adventure Works Ziplines, Vintage Creek Apparel and Italian restaurant Cafe Fontanella has sold for $14.5 million. Its buyer is Chicago-based BlueRoad Ventures, which created BlueRoad Fontanel LLC for the acquisition. No word as to their plans for the 167 acre site at 4133 Whites Creek Pike in northern Davidson County.

Metro Council previously approved zoning to allow the property to offer an additional 140 hotel rooms in five buildings to be located on an adjacent 30-acre farmstead.
 

I consider any activity in this part of the county to be good activity, especially one that builds on our strong tourism base.

[AUNash]

Christ Church Cathedral (Episcopal) at 9th and Broadway has commenced a capital campaign to raise funds for a substantial building project on their campus. A contract with EOA is being negotiated for design work.

In the meantime, as was reported a couple on months back, the diocese has approved a contract for construction of a projected 24-story project on the lot the church owns on Commerce between 8th and 9th. The church will be guaranteed 75 parking spaces in the structure and a ground lease revenue stream for years to come that will be devoted to maintenance of the historic structure. The developer is to be HRI Properties, which did the Holston House. Construction expected to begin in 2020.

[smeagolsfree]

16 hours ago, Bos2Nash said:

@Skyscrapergeek, who is the architect of this project (if you dont mind sharing of course)? I have not been able to find the info anywhere.

I am not the Geek, but it is ESa.

[Skyscrapergeek]

Smeags is correct.  Earl Swensson.  Originally, was HH Architects out of Dallas.   That was years ago.  I really liked their design as it worked really well with the MCC and Bridgestone.   I’m sure those renderings are floating around here somewhere.  

[Mr_Bond]

10 hours ago, AUNash said:

Christ Church Cathedral (Episcopal) at 9th and Broadway has commenced a capital campaign to raise funds for a substantial building project on their campus. A contract with EOA is being negotiated for design work.

In the meantime, as was reported a couple on months back, the diocese has approved a contract for construction of a projected 24-story project on the lot the church owns on Commerce between 8th and 9th. The church will be guaranteed 75 parking spaces in the structure and a ground lease revenue stream for years to come that will be devoted to maintenance of the historic structure. The developer is to be HRI Properties, which did the Holston House. Construction expected to begin in 2020.

I'm impressed with the efforts being made by the downtown church congregations to preserve their history and stay relevant.

[Pdt2f]

On 2/25/2019 at 12:56 PM, PaulChinetti said:

Seems like for $34 million, they could have sold the current property, bought a little farther out and had more money then they would have known what to do with.

@MLBrumby agreed, that exterior design is going to look super dated in a few years.

Their mission isn’t to make money, it’s to serve the downtown area and those within it. Moving out to Donelson or somewhere else cheaper isn’t going to do anything for that mission. 

I know you didn’t intend it that way, I’m just kind of disheartened with the way that many urban areas are completely becoming just places for high-earning singles to eat and drink. Without churches, schools, hospitals, blue collar jobs that aren’t just there for token “gritty chic” purposes, and daycares - without places where normal people can be born, learn, raise families, worship, get married, work, and die - it’s just a holding area for transient 29 year old marketing and tech workers to eat avocado toast for 3 years until they move again. I bet there aren’t 100 children who live in the CBD, the Gulch, midtown, RMH, Germantown, and Sobro combined, if that. 

[markhollin]

Skyline Medical Center addition (3 stories) update. Exterior nearly complete.

Looking NW from Doverside Drive:

[Rockatansky]

12 hours ago, Pdt2f said:

I bet there aren’t 100 children who live in the CBD, the Gulch, midtown, RMH, Germantown, and Sobro combined, if that.  

124 per the latest U.S. Census Bureau estimates.

[nashvylle]

16 minutes ago, Rockatansky said:

124 per the latest U.S. Census Bureau estimates.

is all of that from government housing? Nashville shouldn't be a city with the richest and the poorest citizens living together. It should be all.

Now, how to achieve that.... make the land where public housing is mixed-income and developers don’t pay assessed real estate taxes. 

Edited February 27, 2019 by nashvylle

[TheRaglander]

I love the CBD.  I would love to "empty nest" in the Gulch or Germantown.  But there's no way I would want to raise a family downtown.  I have spent countless hours playing in the backyard, hoops on the driveway, street hockey with my kids.  I was a 5 minute drive to the local soccer fields with the large nets for the kids to play and practice.   Pets are not easy either.  Letting the dog run out the back door for a quick potty break beats walking him to the nearest park.  

[Mr_Bond]

13 hours ago, Pdt2f said:

...places where normal people can be born, learn, raise families, worship, get married, work, and die...

In the condos versus apartments debate, we get a more diverse demographic in condo buildings because home ownership is an important goal to the 40+ crowd and being mortgage free is an important goal to the 65+ crowd.

[Rockatansky]

1 hour ago, nashvylle said:

is all of that from government housing?

None of it is from gov't housing as best I can tell.

[musiczealot]

14 hours ago, Pdt2f said:

Their mission isn’t to make money, it’s to serve the downtown area and those within it. Moving out to Donelson or somewhere else cheaper isn’t going to do anything for that mission. 

I know you didn’t intend it that way, I’m just kind of disheartened with the way that many urban areas are completely becoming just places for high-earning singles to eat and drink. Without churches, schools, hospitals, blue collar jobs that aren’t just there for token “gritty chic” purposes, and daycares - without places where normal people can be born, learn, raise families, worship, get married, work, and die - it’s just a holding area for transient 29 year old marketing and tech workers to eat avocado toast for 3 years until they move again. I bet there aren’t 100 children who live in the CBD, the Gulch, midtown, RMH, Germantown, and Sobro combined, if that. 

In defense of the avocado toast eating crowd...it is really delicious.

[NashvilleObserver]

19 hours ago, Pdt2f said:

I bet there aren’t 100 children who live in the CBD, the Gulch, midtown, RMH, Germantown, and Sobro combined, if that. 

I highly disagree.

When I was in the Stahlman (CBD), there were at least 7 families I knew of that had two children each, and several single parents. I know several families in the Adelicia (midtown) and I know there are countless families with children living in Germantown. 

[AronG]

Making our urban areas more friendly for kids/families is a great way to make them better for people in general (https://www.curbed.com/2017/12/12/16768096/children-cities-urban-planning-arup). We need to focus on stuff like safer and easier pedestrian environments, great parks and public spaces, decreasing pollution, providing better transportation options, keeping crime down, etc. The downtown residential population is in the early stages of being rebuilt after 50 years of suburban flight. I know plenty of people that reluctantly moved out of the city when they had kids because the environment is so inhospitable.  Here's hoping we can provide the amenities over the next decades that will allow more of them to stick around.

[BnaBreaker]

Urban living in multi-family dwellings isn't for every family of course, and I certainly understand that there is great appeal and many benefits to be gained in locating your family in a neighborhood in which a single family home with a yard is easily obtained.  However, the notion that one can't properly raise a child in an urban area or that there are no benefits to doing so is patently absurd and based upon outdated ideas.

Edited February 28, 2019 by BnaBreaker

[titanhog]

Not sure if this has been mentioned earlier in the year, but looks like a Washington DC based private school is opening up a campus here in Nashville (grades 5-12) in the Rutledge Hill area.  Seems it's a college-prep school called Blyth-Templeton.

https://www.blythtempleton.org/nashville?hsCtaTracking=43968268-4acc-4749-8372-68d2b77fbc19|c3e7dce3-d67b-4633-90de-e3f0f0c5ed1a

[markhollin]

A few more details regarding the repurposing of the Neuhhoff Packing Plant and adjoining parcel (total of 9.2 acres) by New City LLC out of Atlanta. These are not finalized, but were filed with Metro Planning:

• 371 residential units
• 662,000 square feet of "general office space"
• 35 hotel rooms
• 60,000 square feet of restaurant space
• 70,000 square feet of retail space
• Kimley-Horn and Assoc. is in charge of planning/engineering
   

Also, it is not clear yet if an additional 5 acres that is owned by Cumberland River Development  (the same entity that owned the Neuhoff Plant) will sell those to New City as well, or if they will retain those and develop separately. 

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2019/02/28/developer-aims-to-pack-a-lot-into-revived.html?iana=hpmvp_nsh_news_headline