Nashville Bits and Pieces

[Luvemtall]

Bos2Nash, I hear where you’re coming from. I was born and raised in Connecticut, technically they have counties but they really aren’t governing. It’s more that each city or town controls their respective areas, and they all border each other. Example: if you live in Waterbury the city is the government and has its school system etc , but the towns that border it have their own schools, fire, police etc. there’s no such thing as county government or county schools, police, etc. you basically go from one town or city to the next. When we moved to Florida in 1989 , it took a while to get used to the County government idea and I always thought it was weird. Once we moved here to Tennessee, it quickly became apparent that county government rules, and I still ask why?

[go_outside]

46 minutes ago, Luvemtall said:

Bos2Nash, I hear where you’re coming from. I was born and raised in Connecticut, technically they have counties but they really aren’t governing. It’s more that each city or town controls their respective areas, and they all border each other. Example: if you live in Waterbury the city is the government and has its school system etc , but the towns that border it have their own schools, fire, police etc. there’s no such thing as county government or county schools, police, etc. you basically go from one town or city to the next. When we moved to Florida in 1989 , it took a while to get used to the County government idea and I always thought it was weird. Once we moved here to Tennessee, it quickly became apparent that county government rules, and I still ask why?

To that end, consolidating the city and county governments was one of the smartest things Nashville/Davidson County ever did. Downtown and the suburbs are forced to work together because they're all one city. It's one of the key features that makes me so optimistic about Nashville's future.

Think of how difficult it is to coordinate public transit with Williamson or Rutherford county. Now imagine if we had those same coordination problems with Bellevue or Donelson. Our consolidated government is a huge advantage. Memphis—and the constant battles with its Shelby County suburbs—is a contrasting example.

Edited September 21, 2023 by go_outside

[Luvemtall]

So is it smart to consolidate , say Franklin into a metro and Lebanon, Murfreesboro etc into metros and no longer have Williamson, Wilson , Rutherford county governments? Or dump the county governments all together and let the cities and towns make up their jurisdictions and have borders with each other? Example: Murfreesboro meets up to Smyrna meets up to Laverne each with their own responsibilities to govern their territories and provide services and schools? It’s really a head scratcher, but a good conversation. 

[andywildman]

Good points, @Luvemtall... I think that if growth is the priority, consolidation is clearly better, as it enables the more cohesive partnership.

If preservation of the status quo is the priority, then having a more fractured government structure feels like an advantage. The folks in Lebanon don't have to let those meddling Mt. Juliet newcomers intrude in their traditional way of life haha.

[Luvemtall]

Funny you mention that, I’ve noticed since moving here in 2006 that there is a certain amount of animosity between the two cities. 

[chc3]

16 hours ago, Luvemtall said:

Funny you mention that, I’ve noticed since moving here in 2006 that there is a certain amount of animosity between the two cities. 

Between Lebanon and Mount Juliet? I didn’t know that.

[markhollin]

Nashville construction volume expected to be down by 20% by end of this year according to a Cummings study. But things are not as glum as in some other markets. 

In 2020, the city saw a record-high in annual construction volume at just over $12 billion — this year, Cummings research predicts the total volume will be around $9 billion.

High interest rates have made it more difficult for planned projects to break ground, but certain sectors such as infrastructure and health care are keeping the construction industry afloat.

Though construction volume is down, it was a record-breaking year for Nashville for construction permits.

The Metro Codes Department issued $5.88 billion worth of permits this past fiscal year, which ended on June 20, according to data obtained by the Business Journal. The sum creates a new record — up nearly 18% from the previous fiscal year.

Cummings predicts construction market value will increase by 16% and could surpass $10 billion by the end of 2024 — a value that is not quite as high as 2021 and 2022 but shows strong growth.

One of the city's most anticipated projects is the Tennessee Titans’ $2.1 billion domed stadium. This month, the Titans selected the Tennessee Builders Alliance (TBA), a partnership between Turner Construction Co., AECOM Hunt Construction, Polk & Associates and ICF Builders, to manage construction of the stadium for the Tennessee Titans.

“The stadium won't pause, despite what interest rates might do. TPAC won't pause, so there's a lot of comfort there. … Construction is going to stay busy because those projects are a sure thing. And that's the beauty of Nashville, right? The Titans stadium still goes on despite what we're seeing, just like Music City Center during the recession of '08 and '09,” Ozols-Goss said.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/09/22/nashville-construction-volume-falls-20-percent.html

[Argo]

2 hours ago, markhollin said:

Nashville construction volume expected to be down by 20% by end of this year according to a Cummings study. But things are not as glum as in some other markets. 

In 2020, the city saw a record-high in annual construction volume at just over $12 billion — this year, Cummings research predicts the total volume will be around $9 billion.

High interest rates have made it more difficult for planned projects to break ground, but certain sectors such as infrastructure and health care are keeping the construction industry afloat.

Though construction volume is down, it was a record-breaking year for Nashville for construction permits.

The Metro Codes Department issued $5.88 billion worth of permits this past fiscal year, which ended on June 20, according to data obtained by the Business Journal. The sum creates a new record — up nearly 18% from the previous fiscal year.

Cummings predicts construction market value will increase by 16% and could surpass $10 billion by the end of 2024 — a value that is not quite as high as 2021 and 2022 but shows strong growth.

One of the city's most anticipated projects is the Tennessee Titans’ $2.1 billion domed stadium. This month, the Titans selected the Tennessee Builders Alliance (TBA), a partnership between Turner Construction Co., AECOM Hunt Construction, Polk & Associates and ICF Builders, to manage construction of the stadium for the Tennessee Titans.

“The stadium won't pause, despite what interest rates might do. TPAC won't pause, so there's a lot of comfort there. … Construction is going to stay busy because those projects are a sure thing. And that's the beauty of Nashville, right? The Titans stadium still goes on despite what we're seeing, just like Music City Center during the recession of '08 and '09,” Ozols-Goss said.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/09/22/nashville-construction-volume-falls-20-percent.html

Wow!!!

This is what I and many other knowledgeable folks have known. High interest rates, high inflation, corporations downsizing, dollar losing its world currency status. Strap in because there are many more developments being deep sixed. And that includes multiple tower developments.

There is a reason why development news is as active as a library on the 4th of July.

I just don't have a clue as to why this has been happening the past 2 and a half years.

Over 150 high rises, towers, and scrapers now on the other side of Limbo. Oh what could have been.

Edited September 22, 2023 by Argo

[UTgrad09]

2 hours ago, Argo said:

Wow!!!

This is what I and many other knowledgeable folks have known.

LMFAO. I stopped reading right there. 

[Luvemtall]

4 minutes ago, UTgrad09 said:

LMFAO. I stopped reading right there. 

I get so tired listening to the bulls*** that comes within every single post by that troll. 

[BnaBreaker]

8 hours ago, Argo said:

Wow!!!

This is what I and many other knowledgeable folks have known. High interest rates, high inflation, corporations downsizing, dollar losing its world currency status. Strap in because there are many more developments being deep sixed. And that includes multiple tower developments.

There is a reason why development news is as active as a library on the 4th of July.

I just don't have a clue as to why this has been happening the past 2 and a half years.

Over 150 high rises, towers, and scrapers now on the other side of Limbo. Oh what could have been.

Bless your heart... it's amazing what one can come to believe about themselves, and about the world in general, when they are an echo chamber unto themselves.  You can repeat something to yourself as many times as you'd like, but that doesn't make it a reality.  

[BnaBreaker]

Use your words, anonymous "confused emoji" people.  Don't be shy.  There is no hope of clarity for your apparent points of confusion if you refuse to verbalize them.  

Edited September 23, 2023 by BnaBreaker

[BnaBreaker]

Good talk.  

Edited September 23, 2023 by BnaBreaker

[nashville born]

On 9/22/2023 at 8:50 PM, BnaBreaker said:

Use your words, anonymous "confused emoji" people.  Don't be shy.  There is no hope of clarity for your apparent points of confusion if you refuse to verbalize them.  

100!

[markhollin]

Here's how many hotels are in the Nashville districts and the surrounding area:

- Nashville Central Business District (CBD)/Downtown 61 hotels with 12,899 rooms

- Nashville West/Midtown 62 hotels with 8,417

- Nashville Davidson County 272 hotels with 38,841

- Nashville MSA 492 hotels with 57,193 rooms

[jjbradleyBrooklyn]

2 hours ago, markhollin said:

Here's how many hotels are in the Nashville districts and the surrounding area:

- Nashville Central Business District (CBD)/Downtown 61 hotels with 12,899 rooms

- Nashville West/Midtown 62 hotels with 8,417

- Nashville Davidson County 272 hotels with 38,841

- Nashville MSA 492 hotels with 57,193 rooms

Awesome information! 

I wonder how this compares to all other large US cities? Would be fun to see that ranking. 

[Nathan_in_DC]

On 9/22/2023 at 11:17 AM, Argo said:

...dollar losing its world currency status...

I don't have the time or inclination to beat my head against the wall correcting the many misconceptions in your post, but the ghosts of my international political economy professors would haunt me forever if I didn't address this particular point.

There is a near zero chance of the US Dollar losing its world reserve currency status in the foreseeable future.

The BRICS countries are often cited as the main challenger, but the three largest economies in that bloc (Russia, China, and India) are unlikely to agree on any international currency standard regardless of the rhetoric that might come out of their meetings. India and Russia are not economically powerful or stable enough to take the lead, and it would indeed be a strange day when India would voluntarily cede the amount of control and prestige to China necessary to allow them to take the lead.

However, the unspoken assumption in most of these hyperbolic scenarios is that the Chinese yuan is on track to overtake the US dollar, with blame being laid at the feet of the current Presidential administration for a perceived lack of assertiveness in world political-economic affairs. Aside from the fact that there is little to nothing any Presidential administration could do policy-wise that would substantively threaten the role of the US dollar as reserve currency, there are a number of factors that are actively preventing the yuan from becoming a real competitor to the dollar.

RSM International does a better job than I at explaining why this won't happen any time soon:

Quote

https://realeconomy.rsmus.com/why-the-dollar-remains-the-worlds-reserve-currency/

For China, which accounts for 2.7% of global reserves, to become a true reserve currency, it would have to liberalize the yuan. Such a loosening would result in a decline in the ability of the regulatory authority to control credit, relinquishing any control of its capital account and current account.

China would have to be willing to alter its economic framework so that its economy plays the same role as that of the United States. Given China’s current political arrangements, that will not happen. And the dollar will remain dominant.

Mods, feel free to move this to the coffee shop or wherever you deem it appropriate. I just wanted to provide this fact check where it would be seen alongside the original post.

[BnaBreaker]

On 9/27/2023 at 12:37 PM, Nathan_in_DC said:

I don't have the time or inclination to beat my head against the wall correcting the many misconceptions in your post, but the ghosts of my international political economy professors would haunt me forever if I didn't address this particular point.

There is a near zero chance of the US Dollar losing its world reserve currency status in the foreseeable future.

The BRICS countries are often cited as the main challenger, but the three largest economies in that bloc (Russia, China, and India) are unlikely to agree on any international currency standard regardless of the rhetoric that might come out of their meetings. India and Russia are not economically powerful or stable enough to take the lead, and it would indeed be a strange day when India would voluntarily cede the amount of control and prestige to China necessary to allow them to take the lead.

However, the unspoken assumption in most of these hyperbolic scenarios is that the Chinese yuan is on track to overtake the US dollar, with blame being laid at the feet of the current Presidential administration for a perceived lack of assertiveness in world political-economic affairs. Aside from the fact that there is little to nothing any Presidential administration could do policy-wise that would substantively threaten the role of the US dollar as reserve currency, there are a number of factors that are actively preventing the yuan from becoming a real competitor to the dollar.

RSM International does a better job than I at explaining why this won't happen any time soon:

Mods, feel free to move this to the coffee shop or wherever you deem it appropriate. I just wanted to provide this fact check where it would be seen alongside the original post.

Brilliant response.  If only the person you were responding to did not see his feeling based opinions as being on par with factual information.  It is unfortunate, but I imagine your post will likely fall upon willfully deaf ears. 

I'll never understand those, from every corner of the political spectrum, who dig in, cling to their pre-conceived ideas, and refuse to alter their positions on a subject when new information is brought to their attention.  I mean, the truth is that we are all lacking knowledge on some subject or another.  I myself am a COMPLETE and utter ignoramus on an embarrassingly long list of topics. Lol... But life itself is a learning process, and we've got to rely on others sometimes in order to grow and evolve.  So to me, there is no need for one to be embarrassed or offended or self conscious when new information contradicts their presently held beliefs!  The only way one can truly be "stupid,"  in my book anyway, is when one refuses to alter their position after encountering new information solely because their ego won't allow them to.  Anyway, my inner monologue will shut up now.   

Edited September 28, 2023 by BnaBreaker

[KJHburg]

On 9/27/2023 at 12:10 PM, jjbradleyBrooklyn said:

Awesome information! 

I wonder how this compares to all other large US cities? Would be fun to see that ranking. 

Uptown Charlotte aka downtown has about 7000 hotel rooms so about 6000 short of downtown Nashville.  Nashville MSA has much more hotel rooms than Charlotte metro and yet your hotel rates are much higher.   Your convention and meeting business is greater than Charlotte's as of course individual tourism.    Tourism dollars equalled $5.3 Billion in Mecklenburg County home of Charlotte in 2022.  

North Carolina Brought in Record Visitor Spending in 2022 | NC Commerce

[Rick Dalton]

Would seem to be a much needed growth area for Charlotte. I’ve never heard people go there for leisure vacation

[donNdonelson2]

1 hour ago, Rick Dalton said:

Would seem to be a much needed growth area for Charlotte. I’ve never heard people go there for leisure vacation

The Charlotte area is home to Carowinds, a theme park that boosts over two million visitors per year. Some of those folks must be coming from out of the immediate area. The NASCAR Hall of Fame would draw some out of towners as well, but the city could use more arrows in their quiver when it comes to tourism.

[markhollin]

Mayor O'Connell has chosen Bob Mendes, a business attorney and former at-large Metro Councilman, to take the role of chief development officer.  The Mayor will also retain Sam Wilcox in his administration to join Mendes in that effort.  He has a background in investment banking, was deputy mayor for policy and innovation under former Mayor John Cooper and a key figure in talks about the East Bank.  These two will oversee major development projects ranging from Metro's desired transformation of the East Bank to the revamping of Antioch's hollowed-out former mall.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/09/29/mayor-oconnell-development-officer-mendes-wilcox.html

[smeagolsfree]

8 hours ago, donNdonelson2 said:

The Charlotte area is home to Carowinds, a theme park that boosts over two million visitors per year. Some of those folks must be coming from out of the immediate area. The NASCAR Hall of Fame would draw some out of towners as well, but the city could use more arrows in their quiver when it comes to tourism.

Carowinds has been a popular attraction for a long time. I remember seeing ads for it when I was a kid as the Charlotte TV stations would be picked up in area of E TN. It is one of the top amusement parks on the east coast, so they do get a lot of visitors. It is sort of like when Nashville had Opryland and folks came to Nashville to visit Opryland only. All amusement parks draw locals as did Opryland.

It is owned by Cedar Fair as well.

[PaulChinetti]

1 hour ago, markhollin said:

Mayor O'Connell has chosen Bob Mendes, a business attorney and former at-large Metro Councilman, to take the role of chief development officer.  The Mayor will also retain Sam Wilcox in his administration to join Mendes in that effort.  He has a background in investment banking, was deputy mayor for policy and innovation under former Mayor John Cooper and a key figure in talks about the East Bank.  These two will oversee major development projects ranging from Metro's desired transformation of the East Bank to the revamping of Antioch's hollowed-out former mall.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/09/29/mayor-oconnell-development-officer-mendes-wilcox.html

I like the Mendes hire. He's for development but he seems to be for equitable development for the people and the city.

[Nathan_in_DC]

2 hours ago, smeagolsfree said:

Carowinds has been a popular attraction for a long time. I remember seeing ads for it when I was a kid as the Charlotte TV stations would be picked up in area of E TN. It is one of the top amusement parks on the east coast, so they do get a lot of visitors. It is sort of like when Nashville had Opryland and folks came to Nashville to visit Opryland only. All amusement parks draw locals as did Opryland.

It is owned by Cedar Fair as well.

Even after 5 years living in Knoxville I've never heard of Carowinds! Come to think of it, the only North Carolina theme park I ever heard of was the Tweetsie Railroad...