1601 Broadway (30 stories/316', 353 apts?, 6,000 sq. ft. retail/restaurant, 365 capacity internal garage)

[smeagolsfree]

Cricket’s chirping with the occasional homeless person snoring on the site.

[Rick Dalton]

COVID casualty? 

[FrankNash]

Maybe a redesign?  

[smeagolsfree]

There was supposed to be news coming on this one.  The odd thing about this project is that Scenic took on a investment partner out of Austin. I found this after following the money trail. There is also a third party involved. The group out of Austin is a large student housing company.

I would have to go back and find the name, but I found this property sitting on their end of year balance sheet on the annual report. Yes, I do a lot of needless digging around and now you understand that I dig into the deep info and find crap out. Now that Taylor checks some other permits and such on Metro, and William with his sources, its like a three headed beast.

[samsonh]

59 minutes ago, smeagolsfree said:

There was supposed to be news coming on this one.  The odd thing about this project is that Scenic took on a investment partner out of Austin. I found this after following the money trail. There is also a third party involved. The group out of Austin is a large student housing company.

I would have to go back and find the name, but I found this property sitting on their end of year balance sheet on the annual report. Yes, I do a lot of needless digging around and now you understand that I dig into the deep info and find crap out. Now that Taylor checks some other permits and such on Metro, and William with his sources, its like a three headed beast.

Was it the student housing company that turned out to be a Ponzi sceme? Sky lofts is the building that turned out to be a scam in Austin.

[smeagolsfree]

This company is legit.

[lmc123]

Has this project stalled? With the GBT and Reed District nearby maybe they are rethinking? 

[smeagolsfree]

1 minute ago, Logan McCoy said:

Has this project stalled? With the GBT and Reed District nearby maybe they are rethinking? 

Remember these are huge and complicated projects and are likely to take YEARS to work out and start. The first phase of the Hines project is not due to start until next year and will be a multi-year build out if not a decade or longer.

The GBT site has not even had a plan submitted yet to even be approved, so there will be a long wait on that one. It will also be a multi-year build out IMO. GBT is also going to be doing a large project on the east bank not to mention another high-rise a few blocks away.

[nashville born]

Still hoping this one has legs...not that I'm a big fan of it.  Would add nice height and compliment Broadwest nicely.

[smeagolsfree]

30 minutes ago, nashville born said:

Still hoping this one has legs...not that I'm a big fan of it.  Would add nice height and compliment Broadwest nicely.

I know there are elements of this project moving forward. You have to remember there are a lot of moving parts to developments like these. They are not done overnight or at one time. This like the Hines project will be done in phase over a number of years.

The UDO did not even hit planning until 9/22. It has more legs than ants IMO. Same as the Hines projects. Monarch Alternative Capital would not be investors with GBT, otherwise and not have people based here (which they do). Things are shifting in this city and in a good way. Nashville is about to take it to a higher level, not anything that Metro has done but the synergy that has been created by the growth that has happened.

You guys cannot expect all of these projects to start next year. These very large multi acre projects are multiyear build outs. Look at Nashville Yards. There are still at least 5 buildings that have yet to start. Oracle will probably be in two phases. Hines said that may be in three phases. This is not to mention the change in the way office space is changing due to COVID. Companies are reevaluating how they are building buildings. 

So, good gosh be patient! I think Bos2Nash mentioned the same thing in another thread. You folks are sort of spoiled a bit thinking everything has to start tomorrow.

You needed to be around here in 2004-2010 when we got excited over new houses going in 12 South. I remember drives with Dave who has since passed, and we got excited over a new building in Historic Wend End. The Veridian, Pinnacle and the Encore were the new big boys at the time. To have two high-rises in SoBro was unheard of and surpassed our expectations. The Gulch was nothing and you didn't go there. We went to Rolling Mill Hill and were able to look up in the smokestack. The old guard as we say (you guys know who you are) have seen all the changes and if it were to stop right now, I think we would be more than pleased with how things turned out in such a short period of time, however it has exceeded our wildest dreams.

I will dedicate this to Dave and Hankster who are not here to see the changes.

[smeagolsfree]

Actually, I thought this was the GBT/Beaman thread. As far as this tower, I know things that may be sending mixed signals and a STORY from The Post is looming. If the guys that are trying to get the project at this site fail to do so, someone else will build a tower there as it is too prominent of a site. Sorry for the rant, but like all the projects we have to be patient. Again, I thought this was the GBT site. Thats what I get for thinking.

Besides Scenic does not own it! A student Housing developer out of Austin does. They may just turn around and sell it for a nice profit if they decide not to build on it. They tend to co-develop with a partner and that may still be the plan. Scenic does not have a good track record from what I have seen. They were the Goldon boys in the NY development scene with very little to show. They have been trying to get a project off the ground in upstate NY for about the same period of time and it has not started either. The NBJ first reported they were connected with a London based company which is not the case. No connection at all. Just the same name.

I know of other developers that may be interested in the property. All the rezoning has been done, so it is an easy thing for someone else to come in and build another project even taller now because of everything else that has happened since this was approved.

[markhollin]

The Nashville Post echoes everything Smeagolsfree said in the post above about the lack of clarity over the delay on the 1601 Broadway tower:

https://www.nashvillepost.com/business/development/status-of-long-planned-midtown-project-unclear/article_d5597c4e-4680-11ed-bee2-97ec5379925a.html

[nashville born]

3 hours ago, markhollin said:

The Nashville Post echoes everything Smeagolsfree said about the lack of clarity over the delay on the 1601 Broadway tower:

https://www.nashvillepost.com/business/development/notes-gulch-project-developer-lands-52-7m-permit/article_ecc4ed72-4807-11ed-8417-2b92456dee19.html

Mark, I didn't see anything in this article about the Broadway tower.

[markhollin]

16 minutes ago, nashville born said:

Mark, I didn't see anything in this article about the Broadway tower.

Sorry.  Wrong link.  I corrected it now.

[Bos2Nash]

[MidTenn1]

It's still alive and looking for an Urban Design Overlay that will allow extra height. There's nothing notable about the design and it seems like a big opportunity to present something very special at the iconic Broadway/West End split was missed.

My slide with new schematics and the link to the Development Tracker file.

[UrbanWes03]

1 hour ago, MidTenn1 said:

It's still alive and looking for an Urban Design Overlay that will allow extra height. There's nothing notable about the design and it seems like a big opportunity to present something very special at the iconic Broadway/West End split was missed.

My slide with new schematics and the link to the Development Tracker file.

That garage screen taking up multiple floors at that corner is sad. Takes away so much depth and activity units could give  At least there’s retail. 

[smeagolsfree]

I think we will run with this on Tuesday.  Height is now 316' and I think the height was 326'. The design is different but not a lot it seems even with a new architect. Craig may be able to shed some light on this. I am unsure if Scenic is even involved with this any longer as it seems that American Campus Communities is driving the train now.

[markhollin]

American Campus Communities (ACC) is now in charge of the development, with Scenic Investments in a much-reduced role.  STG has replaced Smith Gee as the architect.

Some slight modifications from the original plan:

- Now 28 stories (316') instead of 27 (320').

- 353 residential units compared to 440 previously

- The 6 level internal garage has spaces for 428 cars

- Looks to be about 6,000 sq. ft. of ground level retail/restaurant space, compared to 5,000 before

The development team will request from the Metro Planning Commission a final site plan approval (related to the site's urban design overlay) for the property on Feb. 9th.


More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/long-planned-midtown-project-sees-movement/article_5ee96094-87c4-11ed-804a-23f892c36bff.html
 

[nashville born]

First I'll say this, super glad to see this project is still alive.  And now, in my best Thundarr the Barbarian (Google it) voice, Lords of light!!!!  What kind of sorcery is this???  The floor count goes up and the height goes down??  LMBO!

 

[smeagolsfree]

I think you may see more of this happening with the reduction in height by reducing the floor to ceiling height. It is a cost cutting measure. Adding the extra floor was a surprise. This is ACC’s first venture into market rate housing too. 

I think the other thing that slowed this project was the street collector plan and now that it passed, it opens the flood gates for a lot of projects in Mid Town.

[andywildman]

That pedestal sucks.

[FrankNash]

^^^I agree about the parking pedestal.  Wouldn't it be nice if they put video screens for ads like Times Square!

Edited January 5, 2023 by FrankNash

[Rick Dalton]

Yeah this is a missed opportunity in that lot. Really ugly building.

[markhollin]

NashvilleNowNext with coverage of the 1601 Broadway  update announcement:

https://nashvillenownext.com/2023/01/09/30-story-tower-reaches-final-planning-stage-in-midtown-nashville/#more-24445