Alcove/900 Church St., 34 stories/418 ft., 356 apts, $160 million

[markhollin]

Looking south from YMCA Way, 1/4 block south of Charlotte Ave:

[nashville born]

Thought this was pretty cool:

Home - Alcove (alcovenashville.com)

[markhollin]

Looking south from YMCA Way, 1/3 block south of Charlotte Ave:

[markhollin]

[samsonh]

Still a high 16% of this building advertised as vacant on Zillow, along with 2 and 3 free month rent concessions. It’s like this across the downtown area due to oversupply still.

[downtownresident]

1 hour ago, samsonh said:

Still a high 16% of this building advertised as vacant on Zillow, along with 2 and 3 free month rent concessions. It’s like this across the downtown area due to oversupply still.

Considering there is no onsite parking(and the garage in Prime isn’t open yet), that’s not too bad for this building, imo. 

[samsonh]

1 hour ago, downtownresident said:

Considering there is no onsite parking(and the garage in Prime isn’t open yet), that’s not too bad for this building, imo. 

True, but it is like this at all the relatively new buildings. This level of concessions and this vacancy rate is certainly not profitable for the developer/owners.

[Luvemtall]

The developers need to start office and mixed use projects, these buildings are all part of the promise to deliver 5000 amazon workers and the ancillary workers of support businesses . This waiting for the economy to improve is a bunch of hogwash, it’s never going back to pre Covid times, just suck it up and move on ! I don’t give a rats ass who the hell the president is or what’s going on in Washington, it’s just a cycle of economics. I have lived long enough and seen this many times over, stop the nonsense.

[steelkid247]

have we seen anything from their sister property next door?  Prime?  I have to assume they will struggle filling that building - could they be altering their plans?

[nashville born]

Was there this weekend...

[Argo]

2 hours ago, Luvemtall said:

The developers need to start office and mixed use projects, these buildings are all part of the promise to deliver 5000 amazon workers and the ancillary workers of support businesses . This waiting for the economy to improve is a bunch of hogwash, it’s never going back to pre Covid times, just suck it up and move on ! I don’t give a rats ass who the hell the president is or what’s going on in Washington, it’s just a cycle of economics. I have lived long enough and seen this many times over, stop the nonsense.

Dude they can't go spec in this economy with today's interest rates and inflation. Plus the lenders are keeping tight pockets. And with this economy you're not going to see very many relocations and new regional offices.

Edited May 21 by Argo

[Luvemtall]

You talking about “THIS” economy, or the fake one the red ties are trying to paint? 

[Luvemtall]

My wife and I are real estate investors, we haven’t had any problems with the economy holding us back. In fact we have increased our bottom line year over year, so get over it with whatever grim picture you’re trying to convey. 

[Bos2Nash]

Making large, downtown investments pencil right now is quite difficult. I think we discussed this at a meetup some months ago, but high-rise financing is not the easiest walk in the park right now. There are some developers who are making it work, but it isn't like it used to be. Even with the strength of spending and an overall strong economy. Inner-urban, specifically high-rise, is tough.