More Cool Springs Development

[dmillsphoto]

Just getting this one out there, Who knows when or if it will really happen, but with the recent activity (the believed-to-be-IRS-building at the corner of Bakers Bridge & 65S) and the final building in the Meridian Blvd complex (talked to their guys this morning, no idea who's moving in), it's plausible that even MORE shopping is needed.

As far as speculation on the "major discounter" part and another grocery store, it sounds like an open concept strip and pretty pointless given all that is within 2 sq. miles. There is already a Costco, Sams, Wal Mart, Kroger, 2 Whole Foods, and a Publix in the area. Also, a Target, thrown in for good measure. Either way, Cool Springs I guess is going to continue to be our shorter... much shorter... Buckhead.

http://www.tennessean.com/article/20120131/NEWS/301310025/Nissan-headquarters-could-magnet-new-growth?odyssey=tab{sodEmoji.|}topnews{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

[japan]

Two Whole Foods?

[dmillsphoto]

Two Whole Foods?

Corner of McEwen & Mallory Ln and one at Galleria Blvd, but that one may have finally been closed down - haven't noticed in the few times I drove by in the last few months...

[franktown]

Whole Foods at Galleria has closed. They converted it from Wild Oats a few years ago, but even then planned to close it when the McEwen opened up.

[timmay143]

I noticed they started another building (maybe a parking garage, but I doubt it) next to the one already going up or already up just finishing the outside. Not sure what that complex it called. It is quite amazing (regardless of opinion) what CS has done. But yeah, would have been nice to see some higher stuff, .

[franktown]

Interestingly, nothing can be taller than the Nissan building in Franklin now (other than the hills)! That was part of their negotiations with the city

[chris holman]

There's a another large development , coming to the cool springs area! Looks like there trying to lure a fortune 500 company I wish this was build downtown : http://www.bizjournals.com/nashville/news/2012/08/16/pat-emery-breaks-ground-on-71-acre.html?ana=handmark

[chris holman]

Correct me if I'm wrong but this project will be huge !! Apartment building , park , retail , and by looking at the pics they will be building five class A buildings when finished!!!!!!!

[MLBrumby]

1.5 million square feet and 600 acres is very big! That's like three Bellsouth Towers and more than 400 football fields.

[dmillsphoto]

5 buildings, 11 acre park, 600 seat amphitheater. structured parking. Apartments and retail. In other words - something that should be in SoBro.

[chris holman]

5 buildings, 11 acre park, 600 seat amphitheater. structured parking. Apartments and retail. In other words - something that should be in SoBro.

I WAS THINKING THE SAME THING!!!

[BnaBreaker]

I'm sorry, but developers that build projects like that in suburbia are just idiots. It's going to be a ghost town in less than a decade.

[UTgrad09]

I'm sorry, but developers that build projects like that in suburbia are just idiots. It's going to be a ghost town in less than a decade.

I can't imagine it would be a ghost town in less than a decade. Even if there is a big shift from offices moving back into the central city, I can't imagine that it would take less than 10 years.

I do wish that we would start to see more smart development around town in commercial development...I think office parks are a terrible waste of land. Unfortunately I think it will take either a huge social change (the desire for employees to work in a more urban environment) or for the viability of office parks to become obsolete (basically, when rent for class A space to become more expensive in office parks rather than downtown buildings) for this to happen. I can't see it taking 10 years. And I think if any proposals come across to deter this sort of land use at the state level, then the suburbanites will fight against it tooth and nail.

The best thing Nashville can do is try to lure businesses that are more attracted to the urban environment rather than the suburban environment. Because as long as there is demand, places like Cool Springs will continue to grow. And obviously there is still quite a bit of demand.

[Hey_Hey]

I'm sorry, but developers that build projects like that in suburbia are just idiots. It's going to be a ghost town in less than a decade.

It won't be a ghost town. It will be even bigger than it already is. Where would all the businesses locate? If Cool Springs suddenly closed entirely tomorrow it would take years to build the amount of office space required to house all the businesses there. While residential growth has gotten hot in the urban core, it isn't much cooler in Williamson County. Williamson County has reached the point that can sustain development and corporate recruitment without having to rely on the Nashville/Davidson population and influence. There is an incredibly educated, high income, and high achieving population that lives in Williamson County that is itself a draw for corporations around the country. They can put a corporate branch in Cool Springs and have all the executive level talent they want live within 10 minutes of the building.

Now the other surrounding counties are likely not going to see major corporate expansion and building. That's where Davidson County can steal back some companies and development.

[smeagolsfree]

The apartment building will be about a 40 million dollar structure and that is a good sized building. This is more of an urban style building. Spectrum has developed residential in other areas as well and this is the first for them in the Nashville area. I know this subject is a sore spot with a few here however it is worthy of discussing. This is also the same area that Vanderbilt is going to put a half million sq ft campus as well.

The good news here is that Pat Emory can push Gulch Crossings to potential clients as part of his porfolio for those that want to be in a more urban environment. He does have a lot of connections.

[dmillsphoto]

This is also the same area that Vanderbilt is going to put a half million sq ft campus as well.

This campus will be caddy-corner to the Emory property - on the southeast corner of McEwen and Carothers I do believe. There is also about 225k sq ft of retail that will be on one of those corners. Anchor, from what I've heard, is Publix or another grocer.

[MLBrumby]

Oops! Don't know where I got the idea this is 600-acres (maybe the amphitheatre size)... but it's 71 acres. Still very large. Sorry.

[timmay143]

One of the only things we can do is hope for smart development. An urban type in the suburbs?! CS isn't going anywhere anytime soon so this land is all going to be developed sooner or later, one-way or another. Let's hope the one way is a best as it can be for all parties. I think we'll see a push for some type of mass transit for the CS/Franklin/Brentwood area due to the increasing and horrible car traffic.

As much as many would like to not have CS, it is a huge part of why Nashville is what it is. I don't think either could be where it is without the other, but I think CS/Franklin/Brentwood is becoming it's own entity where people are only going to come to Nashville for special occasions such as Preds/Titans/Vandy games, concerts, festivals, or just to get out of the burbs! Mass transit to this area and back needs to be a priority soon IMO.

This sounds like a decent development...it could be worse!

[timmay143]

This is also the same area that Vanderbilt is going to put a half million sq ft campus as well.

Oh wow. Didn't know this. Or maybe I did and forgot? Is this like a medical center or a satellite educational site?

[MLBrumby]

And Carothers is being extended all the way to Hwy. 96, where the WilCo Medical Center is. So that whole East side of 65 is really getting built up now.

[East Side Urbanite]

It's difficult for me to get excited about such development. I realize that there are folks who want such suburban development and I'm sure this will be a quality development (as much so as sprawling development can be of quality). I've interviewed Pat at various times over the years. He is a good man and, clearly, very successful. But I just have to wonder if this development might not somehow hurt the Spectrum/MarketStreet effort to build office structures in the Gulch.

WW

[MTSUBlueraider86]

I only get excited about development in the Central Core and the CBD. Companies will locate in the suburbs due to cheaper land, lower taxes, tax incentives, free parking for employees, and the campus atmosphere. Maryland Farms does remind me of a large college campus and it is impeccably landscaped full of trees and contains many eateries, hotels, retailers, coffee shops and many intangibles. The difficulty is driving too and from them on inadequate roadways not built to handle the traffic.

Suburban developers do compete with the cities and some quite frankly are anti-city and anti-Nashville. They want to keep Nashville from getting what it needs for a sustainable and thriving city. Cool Springs, Maryland Farms, Franklin, and soon to be Thompson's Station wake up every day trying to figure out how they can take something, anything away from Nashville. There is a huge political, cultural, religious, philosophical, and demographical difference in the suburbs and the cities, and it's one that can never be bridged.

However, the suburban model is not sustainable. More people are working out of their homes. Telecommuting is the future and there will not be demand for all of this office space. Land is getting scarce, traffic is getting worse, and fuel costs are going up.

Most tower development in the cities will be hotels and residential.

[bwithers1]

However, the suburban model is not sustainable. More people are working out of their homes. Telecommuting is the future and there will not be demand for all of this office space. Land is getting scarce, traffic is getting worse, and fuel costs are going up.

Most tower development in the cities will be hotels and residential.

On the other hand, when I started working in the commerical real estate appraisal department at PricewaterhouseCoopers in 1999, people were saying the same thing: telecommuting will render office buildings obsolete. But how many office buildings (urban or suburban) have been built since 1999? After 09/11, for a while it was impossible to get insurance to build high-rise office buildings, residential buildings, or even shopping malls. But how many of those have been built/refinanced/renovated/bought/sold since 2001? These building types change with the times and technology, but the fact that their mechanical systems, wiring, and sometimes even layout changes does not mean that they will cease to be built.

One thing that I will say for the developer is that he is proposing to add a park and amphitheater that is accessible to the public. So I give him credit for putting a public amenity in place. I am not sure what level of tax incentives he might be getting in that location, but at least he is giving something back to the community. It is also noteworthy that he mentions building apartments in order to attract younger workers. This is a pretty smart move: technically, some of these workers could live in the apartments and work in the buildings nearby. I can see that being a selling point.

[dmillsphoto]

The plot that I thought Vandy was going to develop is under contract in Cool Springs. This is caddy-corner to the Emery development, on the southeast corner of McEwen and Carothers. It will be the last *large* tract of land to potentially be developed in Cool Springs.

http://www.bizjournals.com/nashville/morning_call/2012/08/huge-chunk-of-cool-springs-land-under.html

[MTSUBlueraider86]

On the other hand, when I started working in the commerical real estate appraisal department at PricewaterhouseCoopers in 1999, people were saying the same thing: telecommuting will render office buildings obsolete. But how many office buildings (urban or suburban) have been built since 1999? After 09/11, for a while it was impossible to get insurance to build high-rise office buildings, residential buildings, or even shopping malls. But how many of those have been built/refinanced/renovated/bought/sold since 2001? These building types change with the times and technology, but the fact that their mechanical systems, wiring, and sometimes even layout changes does not mean that they will cease to be built.

One thing that I will say for the developer is that he is proposing to add a park and amphitheater that is accessible to the public. So I give him credit for putting a public amenity in place. I am not sure what level of tax incentives he might be getting in that location, but at least he is giving something back to the community. It is also noteworthy that he mentions building apartments in order to attract younger workers. This is a pretty smart move: technically, some of these workers could live in the apartments and work in the buildings nearby. I can see that being a selling point.

I agree with most of your statements Brett, however; I think a lot of these developments are anti-Nashville and "Let's stick it to Nashville" more than anything else. These type of developers hate cities, they hate urbanity, and they will do whatever they can to deprive cities like Nashville of sustainable urban growth and renewal, so if he wants to create a suburban traffic cluster****, and an ecological nightmare with miles of concrete and asphalt surface lots, he can be my guest. The suburban office parks have no character, they have nothing unique. They simply become magnates for more cars, higher gas prices, more temperature inversions, smog, dying vegetation, and drought. Welcome to the suburbs, Americas new self imposed method of financial and environmental destruction.