Jump to content

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


smeagolsfree

Recommended Posts

I can’t imagine anyone buying a 100 year old building without doing due diligence as to its stability, structural integrity. A lot of folks buy buildings like this mainly for the land and know  full well that at some point the building will have to come down. They quietly wait for the historic building to become unsalvageable. This may not be the case here, but I’m skeptical.

  • Like 4
Link to comment
Share on other sites


A little history here as the flood was in the 20's when the Gupton Family owned it. They held onto the building without doing anything to it for 70 years and then sold to the current owners and they probably band-aided it for a number of years as the property value and rents were not high enough until recently to justify any thing being done to it.

I remember walking past this building in the early late 90s after the bridge was reopened and the top floors were open to the elements and to the pigeons that were just flying in and out as they pleased. At some point after that the current owner at least boarded up the upper floors to keep the rain and snow out and I think that is when they replaced the windows probably with the blessing of Historic otherwise they would not have been able to replace them.

  • Like 3
  • Thanks 1
Link to comment
Share on other sites

This property sits within the Broadway Historic District overlay.      Demolition of structures within the district is not permissible unless the owner obtains an exception.     Under the BHD guidelines: 

1. Demolition is not appropriate if a building or a major portion of a building contributes to the architectural or historical significance or character of the district.

2. Demolition is appropriate if a building or a major portion of a building does not contribute to the historical or architectural character and importance of the district.

3. Demolition is appropriate if a building or a major portion of a building has irretrievably lost its architectural and historical integrity and importance, and its removal will result in a more historically appropriate visual effect on the district.

4. Demolition is appropriate if the denial of the demolition will result in an economic hardship on the applicant as determined by the MHZC in accordance with section 17.120.190, as amended, of the historic zoning ordinance.

I expect the owner is taking the position that restoration would be an economic hardship.     Of course, old brick buildings can be stabilized and repaired, but at a cost.   The owner is probably making the case that the restored building would not generate sufficient rents to cover his investment in it, so better to tear it down and build something else.    I'm not sure I would take that conclusion without some analysis.   Some of the Lower Broad honkytonks occupying similar sized footprints generate enormous cash flow.       But, I realize this owner does not operate honkytonks and probably has something else in mind.   

As part of the Broadway Historic District, new construction for this particular parcel would be limited to 7 stories and would need to conform to the design guidelines.    

Edited by CenterHill
  • Like 3
  • Thanks 1
Link to comment
Share on other sites

47 minutes ago, CenterHill said:

This property sits within the Broadway Historic District overlay.      Demolition of structures within the district is not permissible unless the owner obtains an exception.     Under the BHD guidelines: 

1. Demolition is not appropriate if a building or a major portion of a building contributes to the architectural or historical significance or character of the district.

2. Demolition is appropriate if a building or a major portion of a building does not contribute to the historical or architectural character and importance of the district.

3. Demolition is appropriate if a building or a major portion of a building has irretrievably lost its architectural and historical integrity and importance, and its removal will result in a more historically appropriate visual effect on the district.

4. Demolition is appropriate if the denial of the demolition will result in an economic hardship on the applicant as determined by the MHZC in accordance with section 17.120.190, as amended, of the historic zoning ordinance.

I expect the owner is taking the position that restoration would be an economic hardship.     Of course, old brick buildings can be stabilized and repaired, but at a cost.   The owner is probably making the case that the restored building would not generate sufficient rents to cover his investment in it, so better to tear it down and build something else.    I'm not sure I would take that conclusion without some analysis.   Some of the Lower Broad honkytonks occupying similar sized footprints generate enormous cash flow.       But, I realize this owner does not operate honkytonks and probably has something else in mind.   

As part of the Broadway Historic District, new construction for this particular parcel would be limited to 7 stories and would need to conform to the design guidelines.    

thanks. I'm just afraid it's going to be demo'd and a surface parking lot will remain for the time being. 

Link to comment
Share on other sites

From the Tennessean: Ascension St. Thomas & Acadia are teaming up in a JV to build/manage a new behavioral hospital at 300 Great Circle Drive.  https://www.tennessean.com/story/money/2018/11/08/nashville-getting-new-saint-thomas-acadia-mental-health-hospital/1935191002/

76 beds

$32M

Approved by THSDA for construction/operation 

636614584616313082-AHC1508-Rendering-01-2017-04-25-DRAFT.JPG?quality=10

  • Like 3
Link to comment
Share on other sites

7 minutes ago, MLBrumby said:

Wasn't something like that planned for the first Swedling hotel proposed for the previous Trails End building and 'historians' screamed bloody murder? That building was demolished later for the Moxy hotel (IIRC). 

I thought Moxy was built on top of the existing building?

  • Like 3
Link to comment
Share on other sites

^^ I have no idea, but watching the Pins conversion, which has been going on for some time now, the contractor seems to be having issues.     First I saw what looked like reinforcement of the original roof, then the roof was removed completely, then for a while there was scaffolding up for what looked like a new roof structure, but in that photo above, the roof is clearly gone again.      Just wondering if this has turned out to be a more difficult job than they anticipated going in.    

Link to comment
Share on other sites

1 hour ago, CenterHill said:

^^ I have no idea, but watching the Pins conversion, which has been going on for some time now, the contractor seems to be having issues.     First I saw what looked like reinforcement of the original roof, then the roof was removed completely, then for a while there was scaffolding up for what looked like a new roof structure, but in that photo above, the roof is clearly gone again.      Just wondering if this has turned out to be a more difficult job than they anticipated going in.    

They took down the old roof completely and installed a new roof. The section in the photo without roof is designed without roof as seen in the original renderings. It will be a courtyard. The entire building is also black now as of a few days ago.

  • Like 1
  • Thanks 2
Link to comment
Share on other sites

Just now, rjgo said:

They took down the old roof completely and installed a new roof. The section in the photo without roof is designed without roof as seen in the original renderings. It will be a courtyard. The entire building is also black now as of a few days ago.

Ah.   Thanks for the clarification 

Link to comment
Share on other sites

This is going to be a great addition to this section of the Gulch and will add a lot of activation where right now there is very little other than the Chauhan Restaurants and 12th & Porter.

Once the Asurion and the Edition hotel next to this project are completed this will further extend the action toward the N Gulch.

  • Like 4
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.