10th + Clark Residential (37 stories/409’/414 units, 34 stories/354’/354 units, 20,932 sq. ft. retail, 847 capacity garage)

[nashville born]

Hope Lincoln keeps the "pedal to the medal" on this one...

Tell them Sheriff Buford T. Justice retired a long time ago...

[Sean blackdog]

2 hours ago, nashville born said:

Hope Lincoln keeps the "pedal to the medal" on this one...

Tell them Sheriff Buford T. Justice retired a long time ago...

 

[nashville born]

Saw a report this morning that said the Fed plans to have three rate cuts in 2024.  Hoping  that gives this project (and others) renewed enthusiasm.

Edited December 14, 2023 by nashville born

[samsonh]

33 minutes ago, nashville born said:

Saw a report this morning that said the Fed plans to have three rate cuts in 2024.  Hoping  that gives this project (and others) renewed enthusiasm.

The ten year Treasury has already dropped close to 110 basis points in the past two months. Mortgage rates are back under 7. Stock market at or near all time highs, times are good, if rates stay here you will see momentum on many of these projects.

 

now we have to focus on reforming our zoning code and permitting process to make things quicker.

[samsonh]

On 12/14/2023 at 2:05 PM, samsonh said:

The ten year Treasury has already dropped close to 110 basis points in the past two months. Mortgage rates are back under 7. Stock market at or near all time highs, times are good, if rates stay here you will see momentum on many of these projects.

 

now we have to focus on reforming our zoning code and permitting process to make things quicker.

There is a laughing emoji response that thinks we should make rezoning and permitting slower. It would be great if they would respond to this post with why.

[Luvemtall]

4 hours ago, samsonh said:

The ten year Treasury has already dropped close to 110 basis points in the past two months. Mortgage rates are back under 7. Stock market at or near all time highs, times are good, if rates stay here you will see momentum on many of these projects.

Or is it that your laughing emoji person is an economy denier? I can think of one, if not a few that fit that description. Although you’re absolutely correct, times are good and heading in the right direction. Numbers don’t lie, but people do. 

[smeagolsfree]

I do think that the pick-up in the construction industry for late 2024 or early 2025 may be right on track if they have 3 rate reductions this next year. That is sort of what I have been hearing all along and seem to be right on track. So, we are looking at a number of delayed projects to probably start back up during this period. It will also give the completed residential projects time to fill.

Ther are always some folks that will preach doom and gloom and quote Nostradamus. I have been hearing the world is coming to an end since the 70's based on those quatrains and the old National Enquirer. An asteroid may hit us tomorrow, but if it does, it does! I am not going to base my life over the next presidential election or what cereal I eat this morning. Some folks get a kick out of trying to ruin other people's lives or the attempt thereof. I do not let that happen. 

BTW, guys I have been around this forum for almost 20 years along with a few others and I do not get my hopes up for any project anymore. If it happens it happens. If you get excited over a project, be ready for a big letdown when it does not happen. Such is Nashville. Yea I am jaded but rightly so.  I am also a realist. I am also a cranky old man!

[dmillsphoto]

On 12/16/2023 at 9:01 AM, smeagolsfree said:

BTW, guys I have been around this forum for almost 20 years along with a few others and I do not get my hopes up for any project anymore. If it happens it happens. If you get excited over a project, be ready for a big letdown when it does not happen. Such is Nashville. Yea I am jaded but rightly so.  I am also a realist. I am also a cranky old man!

We realists tend to be cranky by nature, age has nothing to do with it

[markhollin]

On 12/16/2023 at 8:01 AM, smeagolsfree said:

BTW, guys I have been around this forum for almost 20 years along with a few others and I do not get my hopes up for any project anymore. If it happens it happens. If you get excited over a project, be ready for a big letdown when it does not happen. Such is Nashville. Yea I am jaded but rightly so.  I am also a realist. I am also a cranky old man!

I will say that based on announcements of major projects between 2012 and 2022, Nashville has hit on a very large percentage of them being completed (or well underway).  I think of projects like OneC1TY, Park West, Hillsboro Town Centre, Vandy Tower, Vanderbilt LINK Hospital, all the Belmont Univ. buildings, Nashville Warehouse, GEODIS Park,  Airport Terminal expansion, Airport Hilton, Envision Cayce, Broadwest, 2010 Broadway, Graduate Hotel, Virgin Hotel, Aertson Midtown, The Morris, Kenect, The Moore, Element Music Row, Sky House, Local Midtown, 1805 Church, 1200 Broadway, Gulch Union Office Tower, The Pullman, ONE22ONE, Modera McGavock, 1111 Church, Asurion, Amazon One & Two, Pinnacle Tower, AEG Residential One & Two, AEG Office/Entertainment, Grand Hyatt, Alcove, Prime, Federal Courthouse, Tempo Hotel, 5th & Broadway, Capitol View, Tennessee State Museum, Tennessee State Library, First Horizon Ballpark, Four Seasons,  222 2nd Ave., Drury Plaza, The Joseph, Ascend Amphitheater,  SoBro Tower, Bridgestone Tower,  Hyatt Centric, Peabody Union, Omni Hotel, Marriott TriBrand, Holiday Inn Downtown, Margaritaville Hotel, Music City Center, Westin, JW Marriott, 805 Lea, Embassy Suites/1 Hotel, 1201 Demonbreun Office Tower, 1212 Condos,  W Hotel, Thompson Hotel, Society, The Harlow, Modera Gulch, Paseo South Prima Tower, Broadstone Gulch, Aspire Gulch,  Albion, Rolling Mill Hill, Neuhoff Plant,  River North Landings, over 3 dozen projects in Germantown/North Capitol/Buena Vista, 16 projects in MetroCenter, over 100 projects in East Nashville, over 100 projects in WeHo, over 70 projects in 8th/12th/Music Row/Hillsboro Village,  over 60 projects in  Midtown/West End,  over 60 projects along Charlotte/Nations/Charlotte Park, etc. etc. etc. 

Sure, there have been about 15 tower announcements that appear to be dead in the water.  But when you stack them against the larger developments listed above, I would say we are hitting about 80% fulfillment. There are another dozen or so large projects that are on pause due to the interest rates right now,  but I think we will see a high number of those beginning to move forward once the economy loosens.

[Luvemtall]

And IMO I see it very likely that some we consider dead, to spring back to life. We are still a desirable place for business and investment and this little snag , will one day pass. 
WE ARE NASHVILLE STONG ! 

[BnaBreaker]

1 hour ago, markhollin said:

I will say that based on announcements of major projects between 2012 and 2022, Nashville has hit on a very large percentage of them being completed (or well underway).  I think of projects like OneC1TY, Park West, Hillsboro Town Centre, Vandy Tower, Vanderbilt LINK Hospital, all the Belmont Univ. buildings, Nashville Warehouse, GEODIS Park,  Airport Terminal expansion, Airport Hilton, Envision Cayce, Broadwest, 2010 Broadway, Graduate Hotel, Virgin Hotel, Aertson Midtown, The Morris, Kenect, The Moore, Element Music Row, Sky House, Local Midtown, 1805 Church, 1200 Broadway, Gulch Union Office Tower, The Pullman, ONE22ONE, Modera McGavock, 1111 Church, Asurion, Amazon One & Two, Pinnacle Tower, AEG Residential One & Two, AEG Office/Entertainment, Grand Hyatt, Alcove, Prime, Federal Courthouse, Tempo Hotel, 5th & Broadway, Capitol View, Tennessee State Museum, Tennessee State Library, First Horizon Ballpark, Four Seasons,  222 2nd Ave., Drury Plaza, The Joseph, Ascend Amphitheater,  SoBro Tower, Bridgestone Tower,  Hyatt Centric, Peabody Union, Omni Hotel, Marriott TriBrand, Holiday Inn Downtown, Margaritaville Hotel, Music City Center, Westin, JW Marriott, 805 Lea, Embassy Suites/1 Hotel, 1201 Demonbreun Office Tower, 1212 Condos,  W Hotel, Thompson Hotel, Society, The Harlow, Modera Gulch, Paseo South Prima Tower, Broadstone Gulch, Aspire Gulch,  Albion, Rolling Mill Hill, Neuhoff Plant,  River North Landings, over 3 dozen projects in Germantown/North Capitol/Buena Vista, 16 projects in MetroCenter, over 100 projects in East Nashville, over 100 projects in WeHo, over 70 projects in 8th/12th/Music Row/Hillsboro Village,  over 60 projects in  Midtown/West End,  over 60 projects along Charlotte/Nations/Charlotte Park, etc. etc. etc. 

Sure, there have been about 15 tower announcements that appear to be dead in the water.  But when you stack them against the larger developments listed above, I would say we are hitting about 80% fulfillment. There are another dozen or so large projects that are on pause due to the interest rates right now,  but I think we will see a high number of those beginning to move forward once the economy loosens.

Thanks for keeping it in perspective Mark!  I suppose we all have been a bit spoiled with the high success rate the last few years!  Projects are bound to fail now and again.

[smeagolsfree]

I was going to say look how long the Federal Courthouse took. From announcement to completion almost 20 years. The same for Broad West or what it turned into. That is sort of like some of the projects they built in Rome. Just remember we are in a slowdown, and we will have some cancellations and a number of project delays. Yes, we had a lot of stuff built and that list goes back 10 years. 

All I was saying is that I do not get my hopes up about any project because it is just a loan away from not happening just as the Signature tower was 6 weeks away from its start and it did not happen. So, don't think any project is for sure 100% happening until the doors open. There was a project that sat half under construction in Charlotte for years until it was finally completed. 

[Luvemtall]

Still mourning the loss of Siggy , that was a crushing blow. 

Edited December 20, 2023 by Luvemtall
Spellcheck

[PillowTalk4]

On 12/20/2023 at 8:27 AM, smeagolsfree said:

I was going to say look how long the Federal Courthouse took. From announcement to completion almost 20 years. The same for Broad West or what it turned into. That is sort of like some of the projects they built in Rome. Just remember we are in a slowdown, and we will have some cancellations and a number of project delays. Yes, we had a lot of stuff built and that list goes back 10 years. 

All I was saying is that I do not get my hopes up about any project because it is just a loan away from not happening just as the Signature tower was 6 weeks away from its start and it did not happen. So, don't think any project is for sure 100% happening until the doors open. There was a project that sat half under construction in Charlotte for years until it was finally completed. 

I know we don't tend to discuss Orlando much, but for those that have travelled their might not have realized there is a building that appeared to be under construction but actually sat for over a decade without any work being done to it.  Over two decades later it still isn't finished.  It was literally just the concrete and metal skeleton that was erected then abandoned.  It's called the Majesty Building and it sits off of I-4 just north of downtown Orlando.  Glass was added to it sometime in either 2019 or 2020.   I saw on the news when I was there back in 2012 that locals called it the I-4 Eyesore.  Many people wanted it to be demolished.

I know Nashville had the West End Summit (Broad West) site turn into Lake Palmer for far too long.  But I think an unfinished building sitting for over two decades wins the award for longest construction project embarrassment... LOL!!!

[nashville born]

Anyone heard any scuttlebutt on this project?

[smeagolsfree]

 

5 hours ago, nashville born said:

Anyone heard any scuttlebutt on this project?

Not a peep and these guys will be like everyone else and just wait it out. Remember they own all of the Circle South property too, so they are just paying taxes on that plus this, so it is costing them a ton of money just waiting around for the market to improve.

They may well move on one of them sooner rather than later, but again they have deep pockets and taxes are a cost of doing business. This is going to be a difficult year for a lot of these developers. Some may move forward on projects counting on 2026-2027 to be much better when a project would be coming on-line. However, if too many of them think that way we could have a glut of projects come on-line in 2027.