HomeDiagramsDatabaseMapsForum
     

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations

Reply

 
Thread Tools Display Modes
     
     
  #1561  
Old Posted Jul 17, 2014, 7:53 PM
Dr Nevergold Dr Nevergold is offline
Registered User
 
Join Date: Jun 2000
Location: Winnipeg
Posts: 20,105
^I just have a chip on my shoulder for my experience at Verizon. It was a crappy job, I was there 5 months and literally couldn't take the nonsense. I walked out in the middle of a shift and sent my boss an email that I wasn't coming back. LOL

I feel for those poor people on the phones. Its a brutal operation they have down in Murfreesboro, if any job needs a union it'd be that call center, its one of the few environments where I think having a union would actually save the company money by lowering attrition. They had something like 80% attrition rates when I worked there. I don't even know how they can manage the operating expenses when they spend so much money training employees that leave so quickly.

Since I'm currently employment-free, I don't know that I'd accept another low paying job like VZW to get by. Anything below $40,000 I don't think I could survive on, not in today's cost of living. I find your standards rise when you age. I'm 32 and can't stomach those types of jobs anymore. Verizon paid a pitiful $12.50 an hour back in 2005, I imagine it hasn't risen much since then. Maybe they've improved operations, a decade is a long time and if they're growing jobs oh well.

In terms of jobs quality, just be careful with the hyperbole is all I'm saying. I had a higher paying job in Buffalo, NY than I ever found in Nashville and it lasted 5 years. Buffalo is considered a dead end job market, although I didn't have that feeling while living there. I obtained the job at the height of the recession.

Jobs growth is a good thing, but the hyperbole that goes along with these publications like Forbes gets a little silly at times (Nashville isn't growing the third most net new jobs in the nation out of all the GMP markets in America). I'm hoping our economy improves wages along with the number of jobs, this goes hand in hand and isn't mutually exclusive. I still can't shake that many of the new jobs in Nashvile are relatively low paying where you make $12 or $15 an hour. These are the jobs I've seen in my recent searches...

Last edited by Dr Nevergold; Jul 17, 2014 at 8:13 PM.
Reply With Quote
     
     
  #1562  
Old Posted Jul 17, 2014, 8:20 PM
Dr Nevergold Dr Nevergold is offline
Registered User
 
Join Date: Jun 2000
Location: Winnipeg
Posts: 20,105
Ah, the power of google and the Internet. If this is correct it appears $13.30 is the new wage for CSR's in Murfreesboro?

http://www.glassdoor.com/Salary/Veri..._IC1144540.htm

All I can say is ICK! LOL That's very slow wage growth for 10 years, it was $12.50 back in 05. Verizon has a ton of dead end jobs, hopefully people can find better employment within a few months of starting there.
Reply With Quote
     
     
  #1563  
Old Posted Jul 18, 2014, 3:21 AM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Quote:
Originally Posted by Dr Nevergold View Post
Ah, the power of google and the Internet. If this is correct it appears $13.30 is the new wage for CSR's in Murfreesboro?

http://www.glassdoor.com/Salary/Veri..._IC1144540.htm

All I can say is ICK! LOL That's very slow wage growth for 10 years, it was $12.50 back in 05. Verizon has a ton of dead end jobs, hopefully people can find better employment within a few months of starting there.
That's certainly a lot better than a minimum wage job isn't it? I'm sure most people don't go to work for these type's of places looking to make a career out of it, but more or less a temporary thing.
Reply With Quote
     
     
  #1564  
Old Posted Jul 18, 2014, 6:59 PM
Dr Nevergold Dr Nevergold is offline
Registered User
 
Join Date: Jun 2000
Location: Winnipeg
Posts: 20,105
Quote:
Originally Posted by MIRYDI View Post
That's certainly a lot better than a minimum wage job isn't it? I'm sure most people don't go to work for these type's of places looking to make a career out of it, but more or less a temporary thing.
Of course a job is better than no job, I just think we should have higher standards is all. There's plenty people who don't agree, and people are free to have any viewpoint they wish. I'm not here to dictate an opinion, I'm just providing an opinion.

I'm very biased, however. I don't think people choose to live in suburbia so much as they want the lower prices it offers. You can't grow a city in urban fashion unless people can afford the condos and the square footage needed for comfortable living. My biggest concern is the livability of condos, I grew up in the mid state area but have been around the world enough to know what makes condos attractive and what doesn't, it isn't rocket science. When average incomes aren't high enough and the square footage is too expensive, you can have a small boom period where condos are affordable, but I worry that the market in Nashville will heat up and a lot of these $200k condos (which aren't affordable on $15 an hour to begin with) will become $400k within 10 years as many markets shoot up in inflation. You've seen this in many markets that are larger like Houston or Toronto. Toronto is the premiere condo city in North America, it probably has a higher proportion of residents in highrise condos than New York or Chicago as a lot of urban populations in those cities are in smaller, lowrise 3-5 story structures. In Toronto I observed condos selling for $150-175k back around 2001-2002, today these same condos have skyrocketed to $275-300k for a bachelor pad and increasing if you want 1 or 2 bedroom. The Canadian market didn't experience a housing bust as incomes are generally able to support the overheated market, but I'm hoping Nashville doesn't experience this extreme housing inflation.

Its not healthy for a market to inflate that much over the longer term... But its good for real estate and individuals who buy early and make commissions or major profit in the short term.

I don't know that a lot of these $13-15/hr jobs aren't entry level, they're career jobs for a huge sector of the economy. Those people can't afford to live in a condo in West End or downtown or a nicer area. That means people don't really have choice. Most people don't think about the macro economy, they think about their personal budgets. But when you take the entire market into consideration, a lot of the new jobs aren't quality jobs that allow for living in a nice condo with decent square footage. I'm just saying I hope the job market improves, few of the jobs I've looked up since I've been back in this region aren't really high pay IMO.

If you want to compare with Europe - a contrast worth using - when you get outside of the megacities like London or Paris, you'd be surprised how cheap condo living is. Part of the reason why multi-family housing is so popular in Europe (and isn't here) is price. America has this trend where condos - which actually take fewer resources (and monetary resources to maintain) for living - are more expensive than the costly suburban lifestyle. Having to pay for your own roof, your own driveway, your own yard and etc. has actual, real costs. In America somehow we subsidize this lifestyle to the point where its cheaper. I'm not going to pretend to understand why and how we've done it, but in Europe you see the polar opposite. If you're not in a mega-city (with the mega-prices it offers), you can get into some of the smaller towns and its dirt cheap for condos. I was in Rostock, Germany back in 2012, and the amount of condos for sale under €100,000 was amazing. It almost made me feel like buying a second home as an investment property it was so cheap... The condos I saw were updated and very nice. A matter of fact, there are numerous condos in the 800-1000sq ft range selling there for around €75,000. You aren't going to find that in American cities.

Rostock has all of about 250k people, it has a nice tram system and its more urban than Nashville probably ever will be (it just won't have the central core skyscrapers Nashville has). Why does a city in Europe of 250k - roughly the size of Clarksville - have a larger urban area than a metropolitan area of 1.5 million like Nashville? Because condos are dirt cheap, and transit (even in a city of 250k) actually gets you to business and entertainment districts from your home. Everyone in those condos also owned cars, Germany is still a nation of car drivers.

I'm writing a bit much, but the point is that market forces are why Europeans choose condo living. Its dirt cheap over there if you're not in London or Paris, small cities embrace it. I ask myself why we don't do that here, because condo living is so much cheaper than single family homes if its done right. All we have are luxury condos for the wealthy here. Rostock is more urban than Nashville, but in Europe its a relatively dumpy town, kind of like a Clarksville here. Pardon any offense to anyone in Clarksville, because I know its a low cost of living town, but when I say dumpy I mean there's nothing special about Rostock at all... But the housing stock is mostly multi-family and super cheap.

/personal bias in favor of condo living

Last edited by Dr Nevergold; Jul 18, 2014 at 7:31 PM.
Reply With Quote
     
     
  #1565  
Old Posted Jul 22, 2014, 6:25 PM
ariesjow ariesjow is offline
Registered User
 
Join Date: Aug 2005
Location: Nashville, TN
Posts: 312
Tony G's SoBro is ready to go. Starting as soon as the permits are obtained. Here's the latest from the Tennessean along with an updated rendering.

http://www.tennessean.com/story/mone...ower/12999021/

Reply With Quote
     
     
  #1566  
Old Posted Jul 22, 2014, 7:11 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
^Ugh!! You've got to be kidding me! This is great news and all but I'm extremely disappointed about this new design. It's nowhere near as nice as the other two versions.
Reply With Quote
     
     
  #1567  
Old Posted Jul 22, 2014, 7:42 PM
arkitekte's Avatar
arkitekte arkitekte is online now
Preds/Titans/Grizz
 
Join Date: Mar 2010
Location: San Antonio, TX
Posts: 2,556
Quote:
Originally Posted by MIRYDI View Post
^Ugh!! You've got to be kidding me! This is great news and all but I'm extremely disappointed about this new design. It's nowhere near as nice as the other two versions.
I actually don't mind it. I preferred the first design, but this design is slimmer than the second reducing how stubby it looks. That being said, I don't know if it's just the rendering or a slight redesign, but it also looks a little taller. In any case, it's been a long time coming and I'm glad to see this tower finally break ground.
__________________
I built it ground up. You bought it renovated.
Reply With Quote
     
     
  #1568  
Old Posted Jul 22, 2014, 8:13 PM
ariesjow ariesjow is offline
Registered User
 
Join Date: Aug 2005
Location: Nashville, TN
Posts: 312
It looks essentially the same as the last rendering to me but from a different angle with a different coloration. This rendering looks more realistic than the last one to me. It also definitely looks sleeker and taller, but that may just be the angle as well. Regardless, this should easily be the best-looking residential tower in Nashville once completed.

Also, with SoBro being $91m, it makes one really wonder what Turnberry has up their sleeves for the UMPH site if that will be a $300m project. I'm really crossing my fingers they build tall. They almost have to with all they have planned.
Reply With Quote
     
     
  #1569  
Old Posted Jul 22, 2014, 8:30 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Quote:
Originally Posted by arkitekte View Post
I actually don't mind it. I preferred the first design, but this design is slimmer than the second reducing how stubby it looks. That being said, I don't know if it's just the rendering or a slight redesign, but it also looks a little taller. In any case, it's been a long time coming and I'm glad to see this tower finally break ground.
Don't get me wrong, it's not bad or anything...but to me it looks like just about any other residential tower going up elsewhere. The other two designs looked way more unique and stunning, not to mention they were all glass unlike this new design. Also, the base on this looks pretty boring and bland. I'm still plenty excited that this is finally getting underway, just wasn't expecting a complete redesign of the tower. It really took me by surprise.

ariesjow, I'm not sure how you can say this looks essentially the same as the last rendering. Other then the fact that there's a curve in the building, it looks totally different. It looks like they took the last design and cut it in half, and then added some silly looking white squares that looks like two long giant ladders going up the building.
Reply With Quote
     
     
  #1570  
Old Posted Jul 22, 2014, 8:46 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Ok, just saw this rendering. I've changed my mind... This looks MUCH better!

Reply With Quote
     
     
  #1571  
Old Posted Jul 22, 2014, 9:11 PM
PillowTalk4 PillowTalk4 is offline
Registered User
 
Join Date: Oct 2010
Location: Greater Wasshington, DC
Posts: 313
The redesign is less striking and doesn't have the flare of the original design. I'm glad to see the project come to fruition, but wish it would have been more like the original. Still hoping that someone will design that one iconic building for Nashville.
Reply With Quote
     
     
  #1572  
Old Posted Jul 22, 2014, 11:32 PM
BnaBreaker's Avatar
BnaBreaker BnaBreaker is online now
Future God
 
Join Date: Jul 2001
Location: Chicago/Nashville
Posts: 16,447
I'm into it. Good job Tony!
__________________
"Emancipate yourself from mental slavery. None but ourselves can free our minds."

-Bob Marley
Reply With Quote
     
     
  #1573  
Old Posted Jul 23, 2014, 2:13 AM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Some other news from today...

Southern Land didn't waste any time getting to work after the lawsuit went in their favor the other day. Poor NIMBY'S...

Southern Land firing up the excavators on $100M Green Hills project
http://www.bizjournals.com/nashville...s-on-100m.html
Quote:
You should see the first signs of Southern Land Co.'s $100 million Green Hills development coming out of the ground by December, now that the company won a favorable ruling in county court.
The centerpiece is a 17-story tower of high-end apartments, which will be the tallest building in the Nashville neighborhood. Restaurants and retailers will also move in to the project at the corner of Hillsboro Pike and Richard Jones Road — one intersection south of The Mall at Green Hills and Hillsboro High School.
The final product will be ready in the first half of 2016, and the company just released a new rendering (seen here) of what it will look like. Demolition on the site is done and excavation is imminent.


More good news about Beretta.

Beretta moving all of its U.S. manufacturing to new Gallatin facility
http://www.bizjournals.com/nashville...ng-to-new.html
Quote:
Beretta USA is moving all of its Maryland manufacturing operations to its new production facility in Gallatin, a move that will greatly accelerate the company's plans to add 300 jobs in Middle Tennessee, the company announced today.
The Italian firearms manufacturer initially planned to use its new $45 million Gallatin facility only for the production of new products and research and development. In a statement, Jeff Cooper, the general manager for Beretta USA, expressed concerns over gun legislation in Maryland that led to company to pick a location outside of the state for its new manufacturing plant.
Quote:
“While we had originally planned to use the Tennessee facility for new equipment and for production of new product lines only, we have decided that it is more prudent from the point of view of our future welfare to move the Maryland production lines in their entirety to the new Tennessee facility,” Cooper said.
The company expects the facility to open in mid-2015. The manufacturing transition from the Maryland facility to Gallatin will not occur until that time. Beretta recently hired two Georgia companies to build the factory.
James Fenton, the executive director of the Gallatin Economic Development Agency, said the move will speed up the hiring of 300 employees, which will now likely occur over the next two to three years. Beretta originally planned to fill the positions over five years.



Developer proposes $30M expansion of Franklin apartments
http://www.tennessean.com/story/news...plex/13003573/
Quote:
An Atlanta apartment developer is ready to spend more than $30 million to expand the Grove at Shadow Green off Columbia Avenue in Franklin with 228 new apartments.

John Tirrill, managing partner at SWH Residential Partners, says the strong rental rate for the first 196-unit phase of the Grove at Shadow Green shows there's enough demand for apartments marketed to middle-income renters .

Since opening last October, the Grove at Shadow Green is 92 percent leased and 86 percent occupied, Tirrill said.



Chef Daniel Lindley plans Germantown restaurant 5th & Taylor
http://www.tennessean.com/story/mone...rant/12991495/
Quote:
Chattanooga-based chef and restaurateur Daniel Lindley, a five-time James Beard Award semi-finalist for Best Chef, plans to open a restaurant called 5th & Taylor in Germantown this fall.

The restaurant will serve dinner daily with its menu featuring regional and seasonally focused American cuisines. It's the first tenant announced for the 16,000-square-foot Warehouse at Taylor Place building SWH Residential Partners of Atlanta is developing at Fifth Avenue North and Taylor Street.
Quote:
Lindley partnered with Los Angeles-based interior designer Ruth De Jong to create the space, which will feature a main dining room, two private dining areas and an outdoor patio and bar. The private dining area will have audio visual equipment for business meetings, presentations and social gatherings. Smith Gee Studio of Nashville is the architect for that space.

The building the restaurant is occupying is a 96-year-old barrel roof warehouse, which was part of an old textile bag plant and cotton mill. The Warehouse at Taylor Place retail/office building is next to the 282-unit Flats at Taylor Place apartment building, for which SWH Residential Partners is also the developer and owner.
Reply With Quote
     
     
  #1574  
Old Posted Jul 23, 2014, 1:28 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Following the big news of Tony Giarratana fixing to break ground on the SoBro, there is a little bit of news in the Nashville Post this morning about 505 CST. The article states that Tony G. is targeting a combination of apartments and condos for the tower. It's not the biggest news or anything, but it's a good sign that he's talking about this project to the media. Hopefully the SoBro is such a huge success that it makes the case easier for the need of high-rise residential towers downtown...

505 CST skyscraper would offer apartments, condos
http://nashvillepost.com/blogs/postb...rtments_condos
Quote:
Giarratana Development is targeting a combination of apartments and condominiums for its planned 505 CST skyscraper slated to rise at the southwest corner of the central business district’s Fifth Avenue and Church Street intersection.

Company President Tony Giarratana Monday night told attendees of an Urban Residents Association meeting he envisions 300 to 400 apartment units and 150 condo dwellings for the skyscraper, which, if built, would rise about 750 feet and be Nashville’s tallest building.
A more in depth article in the NBJ

Giarratana moves 505 CST skyscraper to front burner
http://www.bizjournals.com/nashville...t-lacking.html


Last edited by MIRYDI; Jul 23, 2014 at 2:17 PM.
Reply With Quote
     
     
  #1575  
Old Posted Jul 23, 2014, 6:06 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Some new renderings and site plans for the capitol view project in the North Gulch. This is going to be huge for Nashville!

http://www.boyle.com/Portfolio/Mixed...pitolView.aspx







Reply With Quote
     
     
  #1576  
Old Posted Jul 24, 2014, 1:26 AM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
It appears groundbreaking is imminent with Eakin's 15 story office tower in the Gulch. The loan to fund construction will be closing this week. There's gonna be a whole lot of tower cranes in the skyline in the coming months...

With more tenants near, construction starting on Gulch's newest office building
http://www.bizjournals.com/nashville...arting-on.html
Quote:
John Eakin is hitting key milestones as he and his company develop and lease the newest office building in Nashville's Gulch neighborhood, just inside Interstate 40.
Eakin, the chairman and co-founder of Eakin Partners, is closing this week on a loan to fund construction. That work that will begin Aug. 1. Eakin declined to identify the lender, calling it "a well-known prominent local bank."
It will cost $97 million to build Eakin's 15-story office tower at 1201 Demonbreun St., which will be the next-door neighbor to the condo high-rise that developer Ray Hensler is building, named Twelve Twelve.
Quote:
Eakin's building will accelerate the Gulch's crucial maturation as it becomes not just a place to live, eat and shop — but also a place where people go to work. The Gulch's first office building is on pace to open next spring, developed by MarketStreet Enterprises, which is primarily responsible for turning the Gulch from a rundown rail yard into arguably Nashville's hottest growth spot.
Eakin's tower will offer 275,000 square feet of top-rated Class A office space. Eakin told me he has leases waiting to be signed that, collectively, represent 20 percent of the building.
If those leases all return officially signed, it would double what Eakin already has secured under leases with two tenants. Each is taking 26,000 square feet. One is the law firm Neal & Harwell, which will leave space at One Nashville Place downtown. The other is William Morris Endeavor, a California-based talent agency. That business will leave its current space at the Music Row roundabout, which the Eakin firm leases and manages.
Quote:
I've reported that one top target is Sony Music Nashville. Eakin declined comment. He noted that he has enough leases in hand to satisfy the bank that is loaning him the money for construction.
Eakin's contractor, Brasfield & Gorrie, expects to finish its work by Oct. 1, 2016 — two months earlier than originally projected.
"We're developing in what I think is the best location not just in Nashville, but in the entire Southeast," Eakin told me. "There is no other neighborhood with the activity and vibrant feeling the Gulch has."






City Winery sets opening date for Nashville
http://www.bizjournals.com/nashville...nashville.html
Quote:
City Winery, a restaurant, music venue and fully functioning winery in one, has set an Oct. 1 grand opening date for its Nashville outpost.
Located at 609 LaFayette St. in SoBro, it will be City Winery's fourth location, behind New York, Chicago and Napa Valley. Moving into a rehabbed 30,000-square-foot warehouse space, City Winery Nashville will feature a 300-seat concert hall, restaurant and private dining operation, according to a news release. A head chef has not been announced yet, but the menu will feature more than 400 wines and house-made City Winery selections on tap.



HonkyTonk Brewing Co. nears opening date in MetroCenter
http://www.bizjournals.com/nashville...g-date-in.html
Quote:
Add one more name to Nashville’s craft brewer list.
MetroCenter’s HonkeyTonk Brewing Co. is gearing up for its debut and public opening, slated for the next 60 days. The brewery, which filed construction permits last July, has been quiet over the past year, while owner Scott Swygert has been raising money for equipment and building out the 9,200-square-foot warehouse space.



Belmont lands $21.2M building permit
https://www.nashvillepost.com/blogs/...uilding_permit
Quote:
Belmont University has secured a permit for continued work on its under-construction academic and dining services complex located at 1909 15th Ave. S.

R.C. Mathews Contractor is serving as the project's general contractor, with the permit valued $21.23 million.






Acme Feed & Seed restaurant opens today
http://www.tennessean.com/story/life...oday/13048829/
Quote:
After months of waiting, Acme Feed & Seed opens its first-floor restaurant to the public today.

The feed supply store-turned restaurant and honky-tonk invites diners to grab fast-casual, street-inspired foods on a menu designed by executive chef Matt Farley, who worked for The Southern Steak & Oyster, Loveless Café and New York’s Noho Star. Dishes include hot chicken sandwiches, Mexican-style street corn and Thai-style shrimp fried rice.
Quote:
This first floor also serves 28 regional craft beers on tap, has live music daily, and sells Acme-branded and locally-made products in the Acme Pantry.

And soon, locals can look forward to hand-rolled sushi from Sam Katakura, “the Sushi Nazi,” who closed his popular eatery Sam’s Sushi this spring. His sushi will be available on the second floor, which along with the third and rooftop floors, is still under construction.

The restaurant opens daily at 11 a.m. at 101 Broadway.
Reply With Quote
     
     
  #1577  
Old Posted Jul 24, 2014, 3:39 AM
arkitekte's Avatar
arkitekte arkitekte is online now
Preds/Titans/Grizz
 
Join Date: Mar 2010
Location: San Antonio, TX
Posts: 2,556
Good news about the Eakin tower. Not much height at all, but it kills a vacant surface lot and adds density to the Gulch and further builds the Demonbreun Street wall. I'm all for it.
__________________
I built it ground up. You bought it renovated.
Reply With Quote
     
     
  #1578  
Old Posted Jul 24, 2014, 12:50 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
An article in the Tennessean this morning about the $300M Turnberry project across from the MCC. I can't wait to see some renders for this!

Plans emerge for United Methodist site downtown
http://www.tennessean.com/story/mone...town/13069339/
Quote:
The hotel and condos Turnberry Associates plans on property under contract with the United Methodist Publishing House will be developed simultaneously, the president of the developer's hospitality division said.

"The hotel is top priority and may come first — it won't take too long to design," said Ray Waters, also the former general manager for Florida-based Turnberry's Hilton Downtown Nashville and Union Station hotels here. "We're working on financing the whole project now. I don't think we'll have any issue. Nashville is a very good market — people want to be a part of it."

Design is underway for both the 450-room hotel and 250 condos, Waters said. Turnberry is expected to take over the 3.7 acres across from Music City Center in the spring after the publishing house moves to MetroCenter.
Quote:
The chatter in Nashville real estate circles has been that Turnberry would begin the estimated $300 million project with presale of condos before working on the hotel. That thinking is driven by difficulty getting large hotels financed. Lenders want developers to contribute 35 percent to 40 percent of the total project cost as equity, including any financing from government entities.

The hotel brand plays a significant role with Marriott, Starwood and Hilton considered most sought after by lenders and easiest to finance. Turnberry is believed to be pursuing a JW Marriott hotel flag for the Methodist property.

Financing for large condo projects, however, has also been challenging. But lenders are more willing to consider projects if developers can get at least half of the units presold with people putting down a nonrefundable deposit of 20 percent to 30 percent of the total purchase price.
Quote:
Michael Hayes, president of commercial real estate firm C.B. Ragland Co., said lenders have begun to consider condo development loans in Nashville.

"But at the same time, they want to see substantial reservations or presales before they can lend the money to build them," he said. "So it would be logical that Turnberry, if they plan to have condos as part of their program, would seek to presell the units or try to finance them as apartments and convert them at a later date, like Ray Hensler has done (with Twelve Twelve)."
Reply With Quote
     
     
  #1579  
Old Posted Jul 25, 2014, 4:16 PM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
City Winery Nashville sets opening date
https://www.nashvillepost.com/blogs/...s_opening_date




Quote:
City Winery Nashville — the cosmopolitan night spot that is expected to help spur growth within SoBro — will open Oct. 1.

A combination restaurant, music venue and fully functioning winery, City Winery will be located at 609 LaFayette St. and will be the fourth City Winery location, joining those in New York, Chicago and Napa Valley, California.

The facility will be housed in a 30,000-square-foot warehouse space that is being dramatically overhauled (read more here). City Winery Nashville will feature a 300-seat concert hall, restaurant and private dining operation. A head chef has not been announced yet, but the menu will feature more than 400 wines and house-made City Winery selections on tap, according to a release.
Quote:
“We’ve been eyeing Nashville for a long time and we’re thrilled to finally become a part of its flourishing cultural and culinary scene,” Michael Dorf, City Winery founder and CEO, said in the relase. “The heart of City Winery is its music and what better place than Music City to showcase all types of music in a unique, upscale setting with fine wine and food. We can’t wait to open our doors and provide our guests with a one-of-a-kind concert and dining experience.”

City Winery has a series of soft opening events planned leading up to October’s grand opening. It has partnered with the Americana Music Association to host an awards show after party and has booked a full calendar of shows during the Americana Music Festival. It will also serve as the after-party location for the second annual Music City Food + Wine Festival.




This is very positive news for upcoming hotel projects such as the Westin, Virgin and Turnberry's presumed JW Marriott, also for future hotels as well. The hospitality market in Nashville seems to be doing extremely well. I could see several more large scale hotel projects being proposed in the coming years.

Nashville June hotel rate gains were No. 1
https://www.nashvillepost.com/blogs/...ashville_june_
Quote:
hotel_rate_gains_were_no_1
Hotel guests visiting Music City paid an average daily rate of almost $126 in June. That was 14.9 percent higher than the figure from a year earlier and was, according to research firm STR, the highest increase among the country's top markets. That performance was no doubt helped by the thousands who visited town early in the month for the CMA Music Fest, but it also was right in line with STR's March data, suggesting Nashville's hotel sector is moving a good bit upmarket.




A really good article on the need for more affordable housing downtown. This touches a lot of what Dr. Nevergold is talking about. It's a lengthy article so I'll just post up a few quotes from it.

Report: smaller, more affordable housing units are needed downtown
http://www.bizjournals.com/nashville...units-are.html
Quote:
Downtown Nashville rental occupancy hovered at 98 percent for the third consecutive year and condo sales hit record prices, according to the Nashville Downtown Partnership’s 2014 residential report, released Thursday.

Even with 14 new projects on the books, downtown housing stock will remain tight in the foreseeable future as demand continues to increase, contributing to rising rents and price per square foot. The report shows that the downtown area has 56 condo units on the market, translating to a two-month supply of re-sale units, tighter than last year’s three-month supply.

“Even with some new residential product on the horizon, pent-up demand, demographic shifts toward urban lifestyle preference and continued area job growth will perpetuate housing shortages for the near future,” the report states in its opening paragraph.
Quote:
In 2013, Nashville’s downtown population growth outpaced peer cities at 15 percent, but that’s slowed down as new housing stock has also slowed. Downtown population is expected to grow six percent this year, compared to seven percent in St. Louis, six percent in Indianapolis and five percent in Austin. In total, downtown Nashville is expected to finish 2014 with 7,685 residents and 4,803 units. By the end of 2015, both downtown residents and housing stock are expected to grow an additional 5.5 percent in Nashville.

In comparison, downtown Austin, where occupancy is 89 percent, is expected to grow its housing stock by 28 percent over that same time period. Downtown Charlotte, which has a 93.8 percent occupancy rate, is expected to grow its housing stock by 17 percent.
Even if all planned units come online by 2017, the report still predicts a 900 unit deficit in downtown Nashville.
Quote:
Currently, Nashville’s downtown housing stock is 49 percent rentals, 46 percent condos and five percent single-family. Affordable housing makes up just 8 percent of the downtown stock.
Here’s a breakdown of the downtown residential market by rentals and condo units, respectively:

Rentals: Currently, there are 2,232 rental units

-Six projects are under construction with an additional eight announced, which could deliver 2,569 new units by 2017

-Apartment rents increased over the past 24 months for studios, one- and two-bedroom units

-On the high-end, one-bedrooms saw rent increases of 18 percent, commanding $2,000 in some cases, and two-bedrooms saw rent increases of 15 percent. Studios saw rent increases of 10.5 percent on the low-end

-According to property managers, studios and the smallest one-bedrooms are the most popular and also yield the highest square foot prices

Condos: Currently, there are 2,097 condo units within 38 properties

-Twelve Twelve, the first condo project downtown since 2009, is expected to begin delivering units this fall

-Looking at four high-rise properties (Viridian, Encore, Icon and Terrazzo), cumulative price per square foot has risen nine percent over the past six months, to $389.03.
Quote:
The report concludes there are opportunities for Nashville’s downtown developers to cater to these two groups by building smaller, more affordable units with unique designs. According to research, more than 80 percent of U.S. household growth over the next 20 years will be in households without children and 40 percent will be in single-person households.



Groceries and a movie theater top downtown residents' wish list
http://www.bizjournals.com/nashville...-downtown.html
Reply With Quote
     
     
  #1580  
Old Posted Jul 27, 2014, 12:41 AM
MIRYDI's Avatar
MIRYDI MIRYDI is offline
Registered User
 
Join Date: Jun 2013
Location: Nashville, Tn
Posts: 478
Fencing going up at the HCA site.

Preliminary work begins at North Gulch HCA site
https://www.nashvillepost.com/blogs/...gulch_hca_site

Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Global Projects & Construction > City Compilations
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 4:20 AM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.