133 KVB (two 49 story towers of 574’ & 512’ featuring condos, apartments, hotel, ground level retail, public park & 8 levels of parking)

[Luvemtall]

Nowthat Tishman actually owns the property, I expect we will hear their plans sometime soon. They have had a listing on their website under projects for” First and KVB flagship mixed use development in the heart of Downtown Nashville “ for quite a while now, so I’m sure they been working on it. Using the word flagship, one would think it should be something special. Let’s hope . 

Edited February 2, 2023 by Luvemtall
Spellcheck

[MLBrumby]

Still a nice return on a 7-year investment... about 350% if my math's not off. 

[smeagolsfree]

There is more Tishman news coming today, as another sale went through yesterday afternoon. This is a little convoluted, but I will say expect other companies to be involved and a Condo/hotel tower or at least a condo tower. I still think the Rutledge Hill Condos will be involved in the sale somehow, but I am unsure yet. The MasterDeed is mess if you do not speak legalese. At least two more companies involved.

[Rick Dalton]

Condos / hotel is the right move for this site. Certaintly not office.

[smeagolsfree]

We will see about the office. I am unsure if this is part of the mix. According to the sale yesterday afternoon TS sold a portion of the parcel for more than they bought the entire parcel for which left them with a large hunk of it still.

From what I could gather they still have a large portion that fronts KVB. It is hard for me to tell. You know how lawyers word stuff to make it confusing. They may still yet do an office building that they may have a tenant for. Who Knows?

[nashville born]

Time will tell.  Just hope it's like a couple months and not four or five!

[Luvemtall]

Looking at their portfolio, I will keep a open mind. Tishman Speyer, seems to specialize in office. I wouldn’t be at all surprised, if they team up with a large corporate relocation and also have a big player in residential part of the plan. I feel comfortable with thinking a two tower project might be unfolding. 

[Plasticman]

On 1/24/2023 at 9:33 AM, natethegreat said:

1000 feet in Miami makes me nervous, I wouldn’t live in that tower.

It’d be nice if developers would stop doing wide towers and make them taller and skinnier.  

[Rick Dalton]

3 minutes ago, Plasticman said:

It’d be nice if developers would stop doing wide towers and make them taller and skinnier.  

Is wide more unsafe?

[Plasticman]

46 minutes ago, natethegreat said:

Is wide more unsafe?

No, I’m talking about the appearance.  A wide building may be very tall but the width can make it appear shorter.   

[NashRugger]

2 minutes ago, Plasticman said:

No, I’m talking about the appearance.  A wide building may be very tall but the width can make it appear shorter.   

Case in point is Japan's tallest, Azabudai Hills JP Tower, that is 1,067ft tall but you'd never know it. 

[markhollin]

Tishman Speyer just flipped the site in one day's time, selling it for $29 million to T2 Hospitality, a California-based hotel developer (a $2 million profit in one day).

It’s unclear if T2 Hospitality and Tishman Speyer are partnering on a hotel or mixed-use project, or if the land transaction was a standalone event. Tishman Speyer declined to comment for the story. T2 Hospitality's president, as well as its development chief, did not immediately respond to a request for comment Friday morning.

More at NBJ here: 

https://www.bizjournals.com/nashville/news/2023/02/03/tishman-speyer-sold-sobro-land-t2-hospitality.html

[Luvemtall]

If this was a suspense novel, it would be a best seller! Keeping us all on the edge of our seats, seems to be the norm for this piece of property.

[nashville born]

Really sorry to hear that the deep-pocketed, heavy hitter TS won't be behind this development.  I'm officially nervous.

If only that Fairmont Hotel had materialized...

[smeagolsfree]

8 minutes ago, nashville born said:

Really sorry to hear that the deep-pocketed, heavy hitter TS won't be behind this development.  I'm officially nervous.

If only that Fairmont Hotel had materialized...

Here is the answer to that question. They will be involved with a condo / hotel tower with Vision Hospitality and T2 Hospitality. The Rutledge Hill Condos have yet to be purchased. More than likely an office tower will be in the mix as well.

Hotel developers to participate in SoBro project | Development | nashvillepost.com

[smeagolsfree]

I was up at 6 AM reading the DEED MASTER which evidently the NBJ did not bother to read otherwise they would know a little more of what was going on. They also did not note that it was part of the parcel until they corrected the article. I saw that right off the bat yesterday. 

You have to pay attention to the devil in the details otherwise it will bite you in the ass.

[Luvemtall]

That is why Smeags is the Wizard! And we are all glad to have him here.

[smeagolsfree]

You guys are too kind. Just doing my job, most of which I have learned from the school of hard knocks from you guys here.

[CandyAisles]

1 hour ago, nashville born said:

If only that Fairmont Hotel had materialized...

[markhollin]

1 hour ago, smeagolsfree said:

Here is the answer to that question. They will be involved with a condo / hotel tower with Vision Hospitality and T2 Hospitality. The Rutledge Hill Condos have yet to be purchased. More than likely an office tower will be in the mix as well.

Hotel developers to participate in SoBro project | Development | nashvillepost.com

For those who are unable to access the article from behind The Nashville Post paywall, here's a summary as best as I can unravel at this juncture:

Tishman Speyer purchased the 1.22 acre site at 133 KVB for $27 million from Frank May on Thursday, and immediately turned around and sold a portion of it for $29 million on Friday to California-based hotel developer T2 Hospitality and Chattanooga-based hotelier Vision Hospitality.  No further word on if this is a partnership between the three, or on what specifically they will build on the site, although one document states there will be two structures and there is mention of some condos.

Also, the existing Rutledge Terrace Condominiums 92 stories, non-historic) which border Peabody St. on the south are apparently going to be purchased by one or more of the three developers to fill out the entire block.

A water permit from 14 months ago cites a proposed 887-seat restaurant, 9,400 square feet of retail, 467,000 square feet of office space and 365 residential units for the site that could’ve been in the 36 story/600 foot range. It's possible that the document was filed to explore the capacity of the land and not as a solid project plan.

 

[Argo]

So it looks like it could be either three towers like the congress and cumulus projects or similar to the previous two-tower rendering from a few pages ago. 

[Rick Dalton]

If this lot ends up with a single Homewood Suites I’m going to go rogue 

[Luvemtall]

20 minutes ago, Argo said:

So it looks like it could be either three towers like the congress and cumulus projects or similar to the previous two-tower rendering from a few pages ago. 

If your referring to the Tmag conceptual, we can only dream for something like that! How did that stay under the radar for so long, I still drool when I look at those pics.

[downtownresident]

57 minutes ago, natethegreat said:

If this lot ends up with a single Homewood Suites I’m going to go rogue 

I highly doubt that is what we will end up with given that the land was $29 million for a portion of it, with more land to be purchased. 

[Rick Dalton]

6 minutes ago, downtownresident said:

I highly doubt that is what we will end up with given that the land was $29 million for a portion of it, with more land to be purchased. 

I know, I was just browsing through T2’s portfolio