Nashville Bits and Pieces

[Flatrock]

I thought this was a good article. Enjoy...

https://www.bloomberg.com/news/articles/2023-10-31/despite-remote-work-downtown-nashville-is-thriving-for-residents-and-visitors?utm_source=flipboard&utm_content=user%2Fcitylab

[markhollin]

Metro Government now has an Affordable Housing Dashboard tool:

https://dashboards.nashville.gov/t/Metro/views/AH-Dashboard/FinalDashboard_1?%3Aembed=y&%3AisGuestRedirectFromVizportal=y&utm_term=nashtoday&utm_campaign=daily-newsletter&utm_medium=newsletter&utm_source=nashtoday&utm_content=nashtoday

[markhollin]

WeWork Inc. filed for Chapter 11 bankruptcy protection in New Jersey bankruptcy court late Monday.

In a widely anticipated move, the New York-based coworking giant said it will work to reduce its debt through a restructuring support agreement with creditors holding 92% of its secured debt.

In the Nashville metro area, WeWork operates three locations — at 18th & Chet, One Nashville Place and 901 Woodland Street. Its 159,000 square feet make is the second-largest coworking company in the city, according to Business Journal research.

Filing for Chapter 11 bankruptcy protection gives WeWork (NYSE: WE) options as it works to restructure its business, including the right to terminate its leases in a host of properties. That was also underscored by WeWork in a statement late Monday, in which the company said it has a "deliberate" and "value-maximizing lease-rejection plan."

As part of the filing, WeWork is requesting the ability to reject the leases of certain locations that the company called "largely non-operational," adding all affected members have received advanced notice. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2023/11/07/wework-bankruptcy-protection-local-impact.html

[smeagolsfree]

Not a surprise as business the models keep changing. I think other companies will soon follow suit. You can get too big too fast and that I think is what happened here. There are a few other companies that need to go under for the markets and consumers benefit. Some of these companies are dinosaurs and this is just a matter of the changing times. 

 

[chris holman]

REVEALED: America's new economic powerhouses are Dallas, Houston, Nashville and Miami - with their rate of growth helping reshape America's economy

https://www.dailymail.co.uk/news/article-12744431/Americas-new-economic-powerhouses-Dallas-Houston-Nashville-Miami-rate-growth-helping-reshape-Americas-economy.html

[MLBrumby]

I keep hearing/seeing Nashville among the fastest growing cities since 2020, but I haven't seen any official numbers on any city during the past 3 years. I see estimates for counties, and we saw how most cities actually showed a loss of population during the pandemic year (even Nashville allegedly did too). Still skeptical of those numbers and realize certain places were impacted by young adults and/or students returning to their hometowns during that period. Beyond that, I haven't seen anything that shows Nashville grew any faster than other larger, healthy midsize population centers.  I think a great deal of my questioning comes from the unreliable data Metro has used to plan for growth. Seems they're never up to date (e.g. building permits for residential, address changes, etc. don't seem to be compiled) and easily accessible.

[Luvemtall]

All you need to do is live here or visit often, and you’ll get the unofficial results of continuing growth. Seems like every month, more and more streets are jammed with more traffic and if you take notice and not speed by , more and more houses are being built. Large CRE projects might have slowed down a bit, but small scale projects seem to be popping up all over town ( restaurants, hotels, gas stations, retail and housing projects) and it’s the whole region from the downtown core out to the suburbs. Here in Rutherford they just voted to redistrict the schools to prepare for an additional 10,000 students in the next few years. 

[KJHburg]

Good news bad news for the Nashville apartment market.   Good news your rents are falling metrowide.  Bad news vacancy is increasing and with financing tough you will see a major slowdown of apartment growth.

Don't shoot the messenger.

CoStar News - Multifamily Rents Fall at Fastest Pace in 15 Years in Nashville, Tenn.

Rents have flatten out in Charlotte too and our starts are down too this year.  

[MorganRehnberg]

This article suggests the sale of the Arnold’s property may have fallen through… 

https://www.newschannel5.com/news/arnolds-country-kitchen-makes-a-comeback-just-in-time-for-thanksgiving

[samsonh]

12 hours ago, KJHburg said:

Good news bad news for the Nashville apartment market.   Good news your rents are falling metrowide.  Bad news vacancy is increasing and with financing tough you will see a major slowdown of apartment growth.

Don't shoot the messenger.

CoStar News - Multifamily Rents Fall at Fastest Pace in 15 Years in Nashville, Tenn.

Rents have flatten out in Charlotte too and our starts are down too this year.  

People hate inflation, and yet deflation is here for rents and people will hate that, too. This is a natural consequence of the MF building boom of the last few years. Market will straighten it out with 12-18 months and my guess is building starts strong late 24 since MF product takes so long to deliver.

[Luvemtall]

We all need to recognize and openly acknowledge the bull in the china store. The 2024 elections are on everyone’s radar, regardless of your opinion. This isn’t a political message, I’m just stating a simple truth. The uncertainty of what comes next , is in the back of all our minds and that goes true for the financial markets as well. From the Feds all the way down to local banks and investors, the ledge so to speak is a delicate balancing act right now. Unfortunately IMO I don’t think we will see a difference, until the election is over and the path forward is a little bit clearer.

[Flatrock]

Another article about Nashville being one of America's  4  powerhouse cities - this time from 'Entrepreneur' magazine. Good article, but it uses an ancient pic of lower Broadway - of course, lol. 

https://www.entrepreneur.com/business-news/these-4-red-state-cities-are-becoming-economic-powerhouses/465532?utm_source=flipboard&utm_content=topic%2Frealestate

[chris holman]

https://www.tennessean.com/story/news/local/2023/11/14/nashville-is-one-of-cnbc-cities-of-success-how-to-watch/71579189007/

 

What will be featured in the Nashville episode of 'Cities of Success?'

The episode will explore Nashville's evolution from an economy once almost exclusively powered by music to a prominent center for healthcare and research.

 

"Nashville is experiencing explosive development and attracting the likes of Amazon, Oracle, Nissan, Alliance Bernstein, Lamborghini, Ferrari, venture capital, startups and professional sports teams," said CNBC

 

How to watch Nashville on 'Cities of Success'

The one-hour special will air on Dec. 6 at 9 p.m. Central Time 

 

The new series will premiere in December and take a look at cities at the center of economic growth across the country.

 

 

[Argo]

On 11/16/2023 at 7:21 AM, Luvemtall said:

We all need to recognize and openly acknowledge the bull in the china store. The 2024 elections are on everyone’s radar, regardless of your opinion. This isn’t a political message, I’m just stating a simple truth. The uncertainty of what comes next , is in the back of all our minds and that goes true for the financial markets as well. From the Feds all the way down to local banks and investors, the ledge so to speak is a delicate balancing act right now. Unfortunately IMO I don’t think we will see a difference, until the election is over and the path forward is a little bit clearer.

What does the above mean?

sky high inflation, sky high interest rates, astronomical budget deficit, national debt has now grown to be unpayable, dollar losing its world's currency status, real estate market collapsing, bond market collapsing, corporate layoffs

and you're actually trying to tell us its because of an election that is happening a year away?

Man this is straight jacket logic.

Edited November 17, 2023 by Argo

[PaulChinetti]

Stop stirring crap up. 

Get. News. From. Everywhere.

[Argo]

20 minutes ago, PaulChinetti said:

Stop stirring crap up. 

Get. News. From. Everywhere.

You actually get your news from corporate oligarch owned media?

Ha ha ha heeeeeeee!!!

[samsonh]

21 minutes ago, Argo said:

You actually get your news from corporate oligarch owned media?

Ha ha ha heeeeeeee!!!

Can you show us the stats you are using for the things you think are bad. Link to them please. 

[BnaBreaker]

8 hours ago, Argo said:

You actually get your news from corporate oligarch owned media?

Ha ha ha heeeeeeee!!!

It's funny that you think we're not all fully aware that folks like you say things like this because it's the only way you can justify the fact that you made the conscious decision to run away from mainstream media and into to the comfortable information bubble provided by the FreedomPatriotEagle blog, or whatever, and you made that decision not because you felt that they were a more steadily reliable source of fact-based reality, but because you, the "adult in the room," decided that "fact-based reality" is just whatever you wish it to be at any given moment, depending on how you're feeling at the time and who you happen to be engaging with, and the folks at the FreedomPatriotEagle blog tell you what you want to hear to that end.  In short, you ran away from the so-called "corporate oligarch owned media" because the things they told you sometimes clashed with and challenged your preferred narrative of the world, and you get grumpy when that happens.  Now, let's be clear, if one wants to do that then that is certainly their prerogative in life.  But don't then expect everyone else to consider your opinions to be equally as valid as those coming from people who actually go out there and make a point to engage with information from a wide variety of sources in order to uncover the truth to the best of their ability, rather than hide from the truth if it makes them feel uncomfortable.  Like it or not, contrary to the claims of certain prominent figures, reality is not subjective.  We are all free to make whatever claims we like in this country, and I hope it stays that way.  But what really sets a claim apart from all the others is whether or not it can then be backed up with evidence.  You, time and time again, have proven that your claims do not fall into this category.  And this is why people get irritated with you.  Not because of your political leanings, or any other reason.  It's because, apparently, all you've got in your quiver are hysterics and random outbursts, backed up with zero context, or substance, or evidence... and I mean actual evidence, not just yet another random statement of belief.   To put it bluntly, either put up, or for the love of god, please shut up.  

Edited November 18, 2023 by BnaBreaker

[PaulChinetti]

FreedomPatriotEagle hahahaha

[Nathan_in_DC]

On 11/17/2023 at 9:34 AM, Argo said:

...dollar losing its world's currency status...

Just going to drop my previously written and researched response to the last time  @Argo trotted out this utterly uninformed comment.

Quote

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.

 

[subkyle]

Cool angel of our beautiful city from a Tripadvisor ad on Facebook. I know we all hate the standard pic of our city so always glad to see a fresh look.

 

[glamdring269]

On 11/20/2023 at 10:23 PM, subkyle said:

Cool angel of our beautiful city from a Tripadvisor ad on Facebook. I know we all hate the standard pic of our city so always glad to see a fresh look.

 

Great angle. You know it's bad when I'm looking at these pics wondering 'oh, which is that new building?'. I go down all the time for Preds games and seems like I always notice something new that has probably been going up for months and months. Perfect example is that rather large building in the foreground of the photo. I know I've walked past it multiple times recently to go to shows at Ascend but never really noticed it from this angle.

[OnePointEast]

Viewed from the exact altitude. Nashville sprawls along its corridors, not much density compared to the smaller Memphis metropolitan area. We need density.
 

Nashville

Memphis

Houston. 

[markhollin]

Happy Thanksgiving to all my fellow U.P.'ites.  Am grateful for a group of folks who are interested, intrigued, and excited about all the development growth in and around Nashville. I learn a lot from everyone's insights and expertise, as well as widening my perspective from the various opinions presented.  : )

[donNdonelson2]