Rutledge Hill Towers (37 story 200 room hotel/100 condos; 21 story 125 room hotel/100 condos; 17 story 154 apts; 97,500 sq. ft. retail area 2 level grocery store; 5 level 777 capacity underground garage; repurpose five 125-year-old homes to restaurants)

[Rick Dalton]

Has Essex Development ever built anything remotely resembling this scale?

[UrbanWes03]

21 hours ago, markhollin said:

CityNowNext with coverage of the announcement that includes some new renderings, diagrams, and info.

- Looks to be about 250 residential units.

- About 325 hotel rooms.

- About 50,000 sq. ft. office space. 

- 93,341 sq. ft. of retail/restaurant space. 

- Barge Design will handle land planning/engineering.

https://citynownext.com/2023/08/07/rutledge-hill-culinary-arts-district-to-usher-in-new-era-in-nashville/#more-34568

All 5 of these developments are definitely new Nashville to the max! They’re all almost campus like with the park aspects connecting the buildings. It’ll be impressive when all of these are built out to have all of the different parks and open plazas interconnect with one another. 

[nashville born]

I wish I hadn't seen this render.  Because now I want this...with no reduction in height for the tallboy.  Uniquely fantastic.

[UrbanWes03]

19 minutes ago, nashville born said:

I wish I hadn't seen this render.  Because now I want this...with no reduction in height for the tallboy.  Uniquely fantastic.

Agreed. The tall one is stunning in this picture. Reminds me of the Shanghai Tower

[Luvemtall]

1 hour ago, nashville born said:

I wish I hadn't seen this render.  Because now I want this...with no reduction in height for the tallboy.  Uniquely fantastic.

DEFINITELY AGREE!! This project is a must get, beautifully designed and very creative. The combination of Cultural Arts spaces along with retail , residential, office and green space, and turning historic homes into classy culinary spaces is just a perfect balance. Along with the 4 other developments planned for this area , it will be a game changer for our community! Like I mentioned many times before, it’s time for Nashville to put her big girl pants on.

[nashville born]

@UrbanWes03 Shanghai Tower is one of my top five towers in the world.  

[bnacincy]

Hadn't seen this rendering before....wasn't sure about this project before but now I'm pumped!

This needs to get done along with all the other projects in the Southbank district and this will compete with and probably surpass the Gulch as Nashville's premier urban neighborhood.

And something that could help that along would be if someone bought out the City Lights  development and tears it down and replaces it with a food hall similar to 5th And Broadway.

Food halls seem to be a up and coming thing and at some point I would not be surprised to see one in the Gulch as well.

[markhollin]

CityNowNext has a video summary of the project:

https://citynownext.com/2023/08/09/video-story-rutledge-hill-culinary-arts-district-in-nashville/

[nashwatcher]

What odds you give this project breaking ground in 2024? Would be incredible for downtown Nashville. Is there a solid development team/money behind it?

[smeagolsfree]

I doubt it will break ground before 2025 for even one of the towers. Phased project at best.

[PaulChinetti]

I have a buddy in commercial real estate appraisal and he said it's slower than even during covid right now. 

The interest rates starting to settle down should open it back up, but basically NOTHING is happening right now.

[japan]

Mortgage rates approaching a 22 year high. Guess they’ll come down eventually…

[smeagolsfree]

What goes up will come down. The interest rates always rise and fall.

[PaulChinetti]

It’s more about the stability of them according to him. Starting a project at 6% and ending it at 9% is untenable for most. Starting at 7% and finishing at 7% is able to be planned for. 

[Argo]

On 8/10/2023 at 8:46 AM, PaulChinetti said:

It’s more about the stability of them according to him. Starting a project at 6% and ending it at 9% is untenable for most. Starting at 7% and finishing at 7% is able to be planned for. 

eeeeeeeee yep.

 

On 8/9/2023 at 4:24 PM, PaulChinetti said:

I have a buddy in commercial real estate appraisal and he said it's slower than even during covid right now. 

eeeeeeeee yep.

[Mr_Bond]

On 8/9/2023 at 3:24 PM, PaulChinetti said:

I have a buddy in commercial real estate appraisal and he said it's slower than even during covid right now. 

The interest rates starting to settle down should open it back up, but basically NOTHING is happening right now.

With the ratings downgrade on US debt, the 5 YR Treasury yield has been rising again recently.  Many commercial loans are tied to the 5 YR Treasury.

The Fed will soon pause rate hikes and then leave them unchanged for a few months while they assess the effectiveness of their policy (inflation keeps falling).  Then, they would likely lower rates a bit.  When the 5 YR starts falling, commercial loan activity might pick up a bit.

[markhollin]

The former Hermitage Cafe building at 45 Hermitage Place (1 floor, 1,450 sq. ft., circa 1950) appears to be part of the structures that will be incorporated in the "Rutledge Hill Historic and Culinary Arts District."  Mr. J's Original will be the new tenant, a west cost-style burger, fry, and ice cream joint that is expected to open in February. The space will have 40 seats, and will be open for lunch and dinner. 

“It’s essentially a West Coast-influenced burger stand with burgers, pastrami sandwiches, beef dip, chili fries, onion rings, that kind of thing. And a little bit elevated in quality while still trying to maintain that diner, community vibe that was there before,” says owner Jason Flores. “The objective is to have a soulful place for the community. Obviously, we are open to tourists, but we want to make sure it’s got a local vibe as well and food for everybody, nothing should be too expensive.”

The build-out cost is approximately $600,000, according to a permit filed with Metro, and Nashville-based Daniels + Chandler is handling architecture work.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/08/30/mr-js-original-slated-for-former-hermitage-cafe.html

 

What the exterior looked like when it was Hermitage Cafe. Originally, it was a gas station when built in 1950. 

[Rick Dalton]

Looks cool

[nashville born]

Anyone know if this proposal has come before Metro yet?

Absolutely stunning.  Whether it gets approved or not, just stunning.

[Jarno6006]

13 minutes ago, nashville born said:

Anyone know if this proposal has come before Metro yet?

Absolutely stunning.  Whether it gets approved or not, just stunning.

Yes, here is the new rendering with the height reductions:)

[nashville born]

On 10/17/2023 at 11:31 AM, Jarno6006 said:

Yes, here is the new rendering with the height reductions:)

"Don't you put that on me, Ricky Bobby!!!"

[nashville born]

East Nashville’s historic Ambrose House — arguably the architectural crown jewel of an area of the city known for its many beautiful residential buildings — has sold for $3,197,000 to a New York-based restaurant industry power couple.

 

Even though this isn't in the same area, I'm hoping this can share some mojo with the Rutledge Hill Towers/Culinary District effort...

From the Post:

https://www.nashvillepost.com/business/development/nyc-restaurateurs-buy-historic-east-nashville-residence/article_b7cbd4c2-03f0-11ef-a221-937b6082a853.html

 

[markhollin]

The Rutledge Hill Culinary District is filling up.

A restaurant by a Michelin-rated chef and a cocktail lounge, The Meadowlark, will open in a 4,456-square-foot space at 627 Second Ave. South. The historical property was built in 1886 as The James Geddes Engine Co. No. 6 fire station.

The already-confirmed Hello Darlin’ Cocktail Lounge will open in 2,402 square feet of space in the 1890s Victorian-style home at 40 Middleton Street.  And Mr. J’s, by Jason Flores, will open this spring in the former Hermitage Cafe space at 45 Hermitage Ave.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2024/04/30/michelin-star-chef-cocktail-lounge-rutledge-hill.html

[markhollin]

Design details for the 3 tower Rutledge Hill development have been submitted to the Metro Planning Commission last week. 

"World-renowned Norwegian architecture firm Snohetta meticulously designed three new towers for this master-planned district, respecting the prominence and prestige of the existing, historic Victorian-era homes on the block," Essex cofounder Jai Patel said.

The plan includes renovation of six historic buildings to be repurposed as "culinary destinations" near Hermitage Avenue and Middleton Street, by Sean Brock's Husk restaurant. Those include the Meadowlark, Hello Darlin' and Mr. J's Original.

Some additional development details:

• A luxury, 200-room hotel with 100 condominiums, a restaurant and lounge, rooftop bar and coffee shop (37 story tower).
• A "lifestyle hotel," or a boutique-chain hotel, tower with 125 hotel rooms, 100 condominiums, a coffee shop, restaurant and lounge, and rooftop bar (21 story tower).
• A residential tower with 154 apartments or condominiums (17 story tower).
• A 97,500-square-foot retail village anchored by a central marketplace with a farmer's market, retail and entertainment such as a theater.

Plans also include shared underground parking with 777 spaces.

More at The Tennessean here:

https://www.tennessean.com/story/money/2024/05/07/nashville-culinary-hub-planned-rutledge-hill/73555512007/

[MLBrumby]

I had forgotten about that one. So approximately how long does it take from initial submission to Planning Commission to breaking ground? Does the article mention that this will be phased construction or all at once?