Nashville Bits and Pieces

[smeagolsfree]

Here is a screen shot of the plan for 1800 Gallatin.

 

[PaulChinetti]

1 hour ago, markhollin said:

Metro Council approves 34% property tax hike by 32-8 margin. 

Isn’t there some law by the state that taxes for the city can’t actually increase or something? 
 

I’m trying to google but coming up blank with what I’m thinking of. 

[PruneTracy]

4 minutes ago, PaulChinetti said:

Isn’t there some law by the state that taxes for the city can’t actually increase or something?

They can't increase property tax revenue through a reappraisal.

https://comptroller.tn.gov/boards/state-board-of-equalization/sboe-resources/certified-tax-rate.html

[nashvylle]

26 minutes ago, PruneTracy said:

They can't increase property tax revenue through a reappraisal.

https://comptroller.tn.gov/boards/state-board-of-equalization/sboe-resources/certified-tax-rate.html

Thanks @PruneTracy so what went wrong during Mayor Barry's administration? From that video and website, it sates: 

The process ensures the amount of total taxes collected for a county remain the same after a reappraisal, even if the combined value of all property in the county rose or fell following the reappraisal. 

Did we have a shortage of revenue because of successful "appeals" to the assessed value, or did we have less revenue because we lowered the tax rate, or both?

Can Nashville always have a situation where we increase or keep the rate the same, but subsequently we have a bunch of appeals that lower the assessed value of certain properties, and then we end up with a revenue shortage? 

Edited June 17, 2020 by nashvylle

[Nashvillain]

The whole revenue neutral thing is a bit confusing, I'm not sure what the mechanism for doing that is. For instance, if all the property in the county was reappraised and increased in value, I suppose there must be some sort of automatic property tax decrease. Additionally, the reappraisal is an effective rate increase or decrease depending on where you live. After the last reappraisal, many property owners in gentrifying areas of the city (North and East for instance) saw rate increases, while property owners in already wealthy areas (Green Hills for instance) saw rate decreases.

However, as made clear last night, there is nothing preventing the Council from raising property taxes via the yearly city budget. Keep in mind, the previous property tax rate (which was not adjusted following the last appraisal), was the lowest property tax rate in the city's history. Secondly, even after the rate increase, Nashville's property tax rate is lower than every other large city in the state. 

The other tax rate that Nashville can adjust in its yearly budget is the local sales tax. But that is capped at 2.75%. Nashville's local rate is 2.25, which is lower than Brentwood, Franklin, M'boro, Smyrna, which are all at the max rate. 

[Rockatansky]

3 hours ago, PaulChinetti said:

Isn’t there some law by the state that taxes for the city can’t actually increase or something? 

The total $$'s taken in by Metro cannot increase as a result of a reappraisal/reassessment. Increases voted on by Council are perfectly legal.

2 hours ago, nashvylle said:

we lowered the tax rate

This. Prior to last night's vote Metro's property tax rate was the lowest in history.

20 minutes ago, Nashvillain said:

rate increases

The rate didn't change based on location, the amount paid did. Places that appreciated faster than the county average saw an increase, those growing more slowly, a decrease.

As I understand it the policy of not increasing the total $$s via reappraisal is to avoid 'stealth' tax increases via appraisal. Instead the local has to vote on an increase.

Edited June 17, 2020 by Rockatansky
Clarification

[Bos2Nash]

5 hours ago, smeagolsfree said:

Here is a screen shot of the plan for 1800 Gallatin.

 

It's a disappointing amount of asphalt, but pretty par the course for this area. Glad to see it at least broken up with islands and not a complete "sea" of asphalt

[GreenHillsBoy]

2 hours ago, Rockatansky said:

The total $$'s taken in by Metro cannot increase as a result of a reappraisal/reassessment. Increases voted on by Council are perfectly legal.

This. Prior to last night's vote Metro's property tax rate was the lowest in history.

The rate didn't change based on location, the amount paid did. Places that appreciated faster than the county average saw an increase, those growing more slowly, a decrease.

As I understand it the policy of not increasing the total $$s via reappraisal is to avoid 'stealth' tax increases via appraisal. Instead the local has to vote on an increase.

I believe from what I know that the above from Rockatansky is accurate.  The one thing I do believe also occurred is that the tax assessors office was VERY lenient with anyone who came in to protest their reassessment and lowered some at ridiculous amounts.  I live in Green Hills and had a substantial decrease. I have heard many mixed stories of increases and decreases.  The main issue, and I do understand that no one wants a huge increase, but compared to virtually any other city in the country ,we have by far the lowest property taxes anywhere. He is right that the rates in Memphis, Knoxville, Chattanooga, Murfreesboro and Clarksville ( I believe) are all higher that the new increased amount. 

[nashvylle]

3 minutes ago, GreenHillsBoy said:

I believe from what I know that the above from Rockatansky is accurate.  The one thing I do believe also occurred is that the tax assessors office was VERY lenient with anyone who came in to protest their reassessment and lowered some at ridiculous amounts.  I live in Green Hills and had a substantial decrease. I have heard many mixed stories of increases and decreases.  The main issue, and I do understand that no one wants a huge increase, but compared to virtually any other city in the country ,we have by far the lowest property taxes anywhere. He is right that the rates in Memphis, Knoxville, Chattanooga, Murfreesboro and Clarksville ( I believe) are all higher that the new increased amount. 

what happens if the rate is not changed, and appraisal across the county are lower... does metro take in less money?

[markhollin]

Billionaire west coast investor/developer John Pritzker is still hot on Nashville, having just bought Hutton Hotel last week.  He also helped develop the successful Thompson Hotel in The Gulch.  Here are some snippets from an interview he did with NBJ:
 

NBJ: How would you compare present-day Nashville to what you observed working on the Thompson Hotel project?

Pritzker: I think it's what we thought it would be, which is what made us run to Nashville. At the risk of blowing smoke, it really is true: When we started coming here in the early stages of the Thompson deal, I went to Pinewood Social. I was blown away by how dynamic it was, just in that one space. And you start hearing the statistics about how many people are migrating to Nashville — it was stunning. Somehow, Nashville has been able to not just accommodate all those people but benefit and grow as a result. It's created a really crazy-great environment. You mix in a couple of dollops of the fact that you can actually get things done in Nashville, whether it's permitting or just the business-friendly standpoint. There are some cities I wouldn't go back to right now. Nashville isn't one of them.

What's next for you and Geolo Capital here? We're in hospitality and multifamily. We'd love to find some multifamily opportunities. Nashville is one of the places we're going to look. I live in San Francisco and the cost of living here, it chokes people. I think people are thinking about moving out of these giant urban centers … and the notions of lifestyle and cost of living really do make Nashville one of the great places for people to go.

Our hotel industry had been roaring before Covid-19 brought it to a screeching halt. What are your expectations for how and when the industry will recover? People are just clamoring to get out of Dodge, yet they don’t want to get in airplanes. The drive-to destinations will be the first to come back. I think urban properties will be challenged for awhile, especially in convention cities: I don’t see anybody signing up to go to a 30,000-person trade show. Places like San Francisco, Chicago, New York, they'll be challenged for a long time. Nashville is a resilient place. It’s got huge opportunities. 

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2020/06/17/exclusive-billionaire-hotel-scion-pritzker.html?iana=hpmvp_nsh_news_headline

[markhollin]

One of Nashville's leading developers,  Tony Giarratana (and friend on the U.P. Forum),  was randomly assaulted with a skateboard during the protest that turned ugly on the evening of May 30th.  During the unprovoked attack  Giarratana suffered significant injuries and received treatment at a local hospital. The criminal has been arrested and released on bond related to charges of aggravated assault, rioting, and felony vandalism stemming from his actions that night.

https://www.newschannel5.com/news/influential-nashville-developer-tony-giarratana-assaulted-with-skateboard-during-destructive-protest

[satalac]

7 hours ago, markhollin said:

One of Nashville's leading developers,  Tony Giarratana (and friend on the U.P. Forum),  was randomly assaulted with a skateboard during the protest that turned ugly on the evening of May 30th.  During the unprovoked attack  Giarratana suffered significant injuries and received treatment at a local hospital. The criminal has been arrested and released on bond related to charges of aggravated assault, rioting, and felony vandalism stemming from his actions that night.

https://www.newschannel5.com/news/influential-nashville-developer-tony-giarratana-assaulted-with-skateboard-during-destructive-protest

Just read about this. I hope Tony hangs this kid out to dry (not that this idiot likely has much). There is NO excuse for what this guy did, he could have killed him by doing that. Hoping for a speedy recovery for Tony. 

[nashmoney]

Very nice sunset shot of Nashville in the national media. This was on my weather.com app and on their cable channel. 

https://weather.com/news/weather/video/beautiful-sunsets-and-sunrises-due-to-african-dust-for-next-few-days

[PaulChinetti]

From Music City Aerials. 
 

https://instagram.com/musiccityaerial?igshid=1ie762hg4lohc

[markhollin]

Just came across this piece I wrote for my Facebook blog in 2013.  Kinda fun:

I’ve always been fascinated with architecture and central city layouts.  As a youngster, I spent many a Saturday wandering around downtown Columbus, OH taking notes and sketching various structures.  I enjoyed the classic lines of the white limestone State Capitol, but was equally enticed by new highrise bank buildings, and urban renewal tracts. I read Architecture Digest, and would work for hours on my own designs for public and private sector buildings, boulevards, parks, and stadia. 
 

Hence, I guess I've been a bit of an amateur city planner all through my life, taking note of new projects and plans in whatever metropolis I have lived in.  Being a proud citizen of Nashville for a quarter century now, I have watched as our downtown area has made some significant changes.

 

In the 80s into the early 90s we saw the initial Nashville Convention Center, the Fifth Third Center and US Bank towers, Renaissance Hotel, Double Tree Hotel, James K. Polk Bldg. (including Tennessee Performing Arts Center), One Nashville Place, Nashville City Center, two state office buildings along James Robertson Parkway, and the Church Street Shopping Mall built.

 

The true boom really began around 1994.  In the past eighteen years or so, there has been a remarkable expansion that has rendered photos of the downtown area before that era nearly unrecognizable.  Consider all these changes:

 

·      Bridgestone Arena. 18,500 capacity. Home of Nashville Predators NHL hockey team and 100 other concerts/events per year.

·      LP Field. 70,000 capacity. Home of Tennessee Titans NFL team.

·      Bicentennial Mall State Park

·      Downtown Library (built on the site of the former Church Street Mall)

·      Schermerhorn Symphony Hall

·      Country Music Hall of Fame

·      Gateway Bridge

·      Music City Center (new convention center)

·      Davidson County Justice Building

·      AT&T Center, aka “The Batman Building” (40 stories, tallest in state at 617 feet)

·      The Hilton Hotel  (13 stories)

·      Omni Hotel (23 stories)

·      Baker Donaldson Building (11 stories)

·      Sun Trust Plaza (13 stories)

·      Cumberland Apartments (28 stories)

·      Encore Condominiums (21 stories)

·      Veridian Condominiums (35 stories)

·      Icon Condominiums (22 stories)

·      Terrazzo Condominiums (14 stories)

·      The Pinnacle Place (30 stories)

·      Hyatt Place Hotel (11 stories)

·      Music City Central Metro Transit Terminal

·      New Greyhound Bus Station

·      Musicians Hall of Fame into first level of Municipal Auditorium

·      Nashville Rescue Mission (conversion from old Sears Building)

·      Farmers Market remodeling

·      Frist Center for the Arts (conversion from US Post Office Bldg.)

·      Davidson County Courthouse remodeling

·      Public Square Park (with 4 level garage underneath)

·      Hall of Fame Park (with 4 level garage underneath)

·      Korean Veterans Blvd. (KVB)

·      Roundabout at 8^th Ave., Lafayette Ave., and KVB

·      Ryman Auditorium remodeling

·      War Memorial Auditorium remodeling

·      Cummins Station remodeling

·      Stahlman Building remodeling into condos

·      Shelby Street Bridge remodeled into pedestrian walkway

·      Riverfront Park upgrades

·      Cumberland River Park

·      Bridge Building remodeling

·      Numerous other smaller apartment/condo buildings and remodels in The Gulch

·      Broadway revitalization with many new restaurants and shops

·      2^nd Avenue revitalization

·      Rutledge Hill revitalization

·      Marathon Village revitalization

·      Germantown revitalization

 

As impressive as all of that is, consider that in the next five years, downtown Nashville will see the most construction in its history that will radically change the look, feel, and function of the city…

 

·      505 Church Street Tower. 60 stories, 750 feet. Corner of 5^th Ave. and Commerce St. Mixture of offices, condos, and hotel. Plus 700 car garage.

 

 

·      Sheet Music Tower, 44 stories, 500 feet tall. Corner of 4^th Ave. and Demonbreun St. Mixture of offices and condos.  600 car garage.

 

 

·      SoBro Apartment Tower. 33 stories, 400 feet tall.  Primarily apartments, with some retail, restaurants.  Plus 500 car garage (Two renderings below).

 

 

·      Westin Hotel. 30 stories. 410 feet, 8^th/KVB Roundabout .  Plus 400 car garage.  A couple of restaurants. No artist renderings yet.

 

·      Adelcia Condo Tower. 23 stories. 270 ft. tall.  Corner of 12^th Ave. and Demonbreun St.. in the Gulch. All condos.  Plus 400 car garage.

 

 

·      NCC Site Tower. 28 stories. 380 ft. tall.  Corner of Broadway and 5^th Avenue (site of old convention center).  Mix of offices, condos, entertainment, restaurants.  Also will include African American Music Museum, and House of Blues Club.

 

 

·      Crescent Apartment Building. 20 stories. 250 feet tall.  Corner of Division St. and I-65. All apartments.  Plus 300 car garage. No artist renderings yet.

 

·      Hyatt Hotel. 17 stories.  250 feet tall. Corner of Broadway and 3^rd Avenue.  A couple of restaurants. Plus 300 car garage.

 

 

·      Marriott Hotel. 15 stories, 200 feet tall. Corner of 8^th Avenue and Demonbreun St. Couple of restaurants. 250 car garage.

 

 

·      Gulch Crossing Office Bldg. 10 stories, 130 feet tall. Corner of Demonbreun and 11^thAve. in The Gulch.  Plus 300 car garage. 

 

 

·      Four Seasons Hotel. 10 stories. 150 feet tall.  In the Gulch (site still being negotiated). Plus 200 car garage. No artist rendering yet.

 

·      Hilton Garden Inn Hotel. 12 stories. 170 feet tall. Corner of 2^nd Ave. and KVB. Plus 200 car garage.

 

 

·      12^th and Laurel Apartments. 12 stories. 150 feet tall. Corner of 12^th Ave. and Laurel St. in The Gulch.  Plus 200 car garage.

 

 

·      Marriott Residence Inn. 14 stories. 180 feet tall.  Corner of 5^th Ave. and KVB. Plus 200 car garage. No artist renderings yet.

 

·      Spring Hill Suites. 12 stories. 150 feet tall. Corner of 5^th Ave. and KVB.  Plus 200 car garage. No artist renderings yet.

 

·      Sulpher Dell Baseball Stadium.  Home of Nashville Sounds AAA baseball team. 10,000 capacity. Corner of 5^th and Jackson St. Plus 1,000 car garage.

 

 

·      Sulpher Dell Stadium Apartments. Corner of 3rd^th and Jackson.  Plus 200 car garage (see layout above).

 

·      Sulpher Dell Stadium district development. Corners of 3^rd, 4^th, 5^th and Harrison. Numerous restaurants, clubs, and shops (see layout above).

 

·      Gulch/SoBro Pedestrian Bridge. 600 feet long, 30 feet wide, with 160 foot tall suspension tower. From Pine Street in Gulch, over railroad yard into Clark St. Will include foliage, benches, bike paths, shops, and elevators at both ends.

 

 

·      New Tennessee State Museum. Corner of 6^th Ave. and Harrison. Plus 200 car garage. No artist renderings yet.

 

·      New Tennessee State Library.  Corner of 6^th Ave. and Jackson St. Plus 200 car garage. No artist renderings yet.

 

·      Riverfront Amphitheater and Park. Capacity of 2,000 to 8,000 for seasonal concerts, events. Corner of 1^st Ave. and KVB.

 

 

·      Stix Art Sculpture in Roundabout at KVB and 8^th Ave. 90 feet tall, and internally lit at night.

 

Beyond these that are in the formal planning stage, I also see further changes on the immediate horizon:

 

·      Several more major hotels in the blocks immediately around the Music City Center, especially along KVB and around the 8^th Ave/KVB/Lafayette St. Roundabout.

 

·      SoBro, especially along First Avenue opposite of the new Riverfront Amphitheater, and on the three other corners at KVB should have major structures in place by 2020.

http://www.nashvilledowntown.com/_files/docs/2112sobrorpt_websmall.pdf
 

·      The East Bank of the Cumberland River should also finally see relocation of the scrap metal recycling plant, opening up a huge 500 acre area for housing, retail, and entertainment which could include a boat marina, continuation of Cumberland River Park, big box retail outfits like Ikea, condominiums, restaurant park, cycling velodrome, etc.

 

·      The large 200 acre tract at corner of Charlotte Ave. and I-40/65 has now been completely cleared.  Something large is going to be announced soon.  Could it be a massive complex for HCA?  Could it be The Gulch North? One thing is certain, it is valuable property with great access, and it will end up having as much impact on the northwest side of downtown as the Gulch did for the southwest sector.

 

·      Jefferson Street corridor revitalization brought on by Sulpher Dell Ballpark, apartments, and new Tennessee State Library and Museum.

 

·      Rutledge Hill, Germantown, Marathon Village, and Gulch revitalization continuing with multiple additional apartment and condo buildings, homes, duplexes, restaurants, and shops.

 

Additionally, just outside the inner-belt that surrounds downtown, there are numerous other neighborhoods that will see continued development:

 

·      Midtown (just west of downtown along Broadway and West End Ave.) as had a spike of construction in the past decade.  That will continue with the Summit Center (featuring 24 and 18 story towers and garages), the 19 story tall 1505 Demonbreun Apartments, The Buckingham Complex (14 story hotel, 18 story condo, 10 story offices at 21^st Ave. and Broadway), more mid-size and small hotels, and high end restaurants.

 

 

 

·      8^th Avenue South and 12 South will continue adding more condos, apartments, retail and restaurants, along with the continued housing boom (remodels and rebuilds)

 

·      East Nashville’s Main/Woodland Corridor leading out to Five Points. More condos and apartments, retail, restaurants, churches, and continued housing boom (remodels and rebuilds).

 

·      Metro Center continues its decades long growth with more corporate headquarters, auto sales/service, education elements, and entertainment.

 

·      Fisk Univ./Meharry Hospital area along Jefferson Street will continue its revitalization with more apartments, retail, and entertainment, and housing remodels and rebuilds.

 

·      The J. Henry Hale Housing Development 10 square blocks along the western edge of I-64/40 and Charlotte Ave. will continue to grow, bringing in more retail and businesses.

 

·      Belmont University shows no signs of slowing down, and could become Nashville’s largest university (jumping past Vandy) within a few years.  This means continued purchasing in area neighborhoods and constructing additional educational  and service structures, as well as even more dormitories.

 

·      Vanderbilt is not finished either.  Both on the collegiate and medical center sides. 

 

·      Travecca University is also growing, but not at quite the same pace.  A few new structures will be built there. 

 

Other areas in the center city that will see significant attention in the next 5 years:

 

·      Greer Stadium Site (soon to be former home of the minor league baseball team). Could become part of a Civil War Museum complex to go along with the recently renovated Fort Negly on the hill immediately next to it.  Some think it may become a high tech business park.  Others think it could be trendy housing for the arts district that is developing a few blocks away.

 

·      Old State Fairgrounds site.  This has been debated for the past decade.  But movement will finally happen within the next half decade.  My guess is that it will be a mixed use site of high tech, condos, apartments, and some retail/restaurant.

 

·      North Cumberland stretch along the river from Woodland Ave. up to Spring St.  This is all industrial warehousing now, but the views of downtown are spectacular along here, and I see some high rise condos, apartments, and other upgrades in the not-to-distant future.  Perhaps even a major league baseball stadium in the next ten to fifteen years?

 

All in all, in the next half-decade there are going to be more construction cranes, cement trucks, road detours, and hardhats within a two mile radius of The Ryman than Music City has ever seen before. Some may bemoan it, but I, for one, am very bullish on what all this means for our city and its future.  

 

[smeagolsfree]

Sort of fun looking back at the what could have been and the what really happened and how some projects morphed into something totally different.  Also thinking about how we got excited over some of the projects and looking at them now, glad they didnt get built because what we are getting at some of these locations are so much better.

Thanks for sharing Mark.

[Bos2Nash]

Nashville was dealt another blow by the pandemic. NASCAR has cancelled Champions Week 2020 in Nashville due to COVID-19. They have plans to return in 2021. I’m sure the economic impacts could be discussed in that thread, but a disappointing blow for the city. 

[markhollin]

Nashville Post ranks the top ten Mid Tenn real estate/development stories of the first half of 2020:

https://www.nashvillepost.com/business/development/article/21138798/2020s-top-reads-development

[markhollin]

Somera Road Inc., a large NYC-based real estate firm, will be opening its 2nd national office here in Nashville at an undisclosed location.  They are continuing to make large investments in/around Nashville with their portfolio including: The Voorhees/Downtown Antique Mall site on Eighth Avenue South in The Gulch, WeHo Crossing in Wedgewood-Houston, 501 Great Circle Road in MetroCenter (home to Nashville-based JumpCrew) and PINS Mechanical Co. in the North Gulch. The company plans to soon announce future projects for Wedgewood-Houston, Germantown and East Nashville.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21138906/nyc-developer-taps-nashville-for-second-office

And behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2020/07/01/ny-developer-somera-road-nashville-office-move.html?iana=hpmvp_nsh_news_headline

[TNinVB]

Not sure where to post this, but does anyone know if the Tennessee State Museum is open? Google maps lists their hours as open today, but when I called the message says they are closed due fo COVID-19. I had thought museums were opening? I appreciate any info. I brought a family member to town for her first visit. Was hoping to visit the museum if possible. If not, thankfully we have many greenways and Opryland hotel if that’s even open. 

[donNdonelson2]

Email from them says they reopened on July 1

Frist Art Museum has reopened. Buy timed tickets online. Masks required. Temperature taken prior to entry.

According to their website Lane Motor Museum is open. (I love this place!)

[donNdonelson2]

Johnny Cash Museum is open.

[donNdonelson2]

I feel like a tour guide today...Nashville Zoo is open. Buy timed tickets online. Masks required. (They let you bring in food/drink, and as hot as it is....WATER)

[markhollin]

1 hour ago, TNinVB said:

 I brought a family member to town for her first visit. Was hoping to visit the museum if possible. If not, thankfully we have many greenways and Opryland hotel if that’s even open. 

Welcome back to Nashville, TNinVB!  Hope you have a nice visit.  : )

[TNinVB]

11 hours ago, donNdonelson2 said:

Email from them says they reopened on July 1

Frist Art Museum has reopened. Buy timed tickets online. Masks required. Temperature taken prior to entry.

According to their website Lane Motor Museum is open. (I love this place!)

Thank you!