NASHVILLE | Development Showcase

[arkitekte]

Originally Posted by futuresooner

The developer of Nashville's most successful high-rise luxury condominium, The Adelicia, is planning to construct a 300-unit apartment tower in the core's booming Gulch district.

http://www.bizjournals.com/nashville...ent-tower.html

"Nashville’s first high-rise rental development in more than a decade is slated to be built in the Gulch at a much-discussed two-tower site at 12th Avenue South and Demonbreun Street."

"The 300-unit, amenity-rich project is aimed at the very top tier of the market— so-called "renters by choice," the type of tenants paying nearly $2.50 per square foot to lease high-end condo units. Featuring floor plans larger than other urban Nashville apartments, rents are expected to start around $1,200 and go as high as $4,000. Details of the project are still being tweaked."

Sounds good. I'm looking forward to seeing more about this.

[BnaBreaker]

I love that Elliston 23 will take up such a huge plot of empty space. Not to be a downer though, but looking at this picture it makes me sad that Nashville, up until very recently, had such lax standards for development this close to the center of the city. I mean, aside from that tiny one block stretch, there is really nothing there to promote a healthy urban street. It's really a shame that Elliston 23 will be surrounded on all immediate sides with suburban style crap that doesn't come anywhere close to fronting the street. You have to start somewhere, though, and this is one hell of a start.

[futuresooner]

Well, just right of the AT&T service structure is where Elliston Place really gets good and dense then runs into Baptist Medical Center. The other way, left of the site beyond the Hampton Inn & Suites it gets more dense yet again.

You're never going to have the most dense and best developments on all lots, I can say this though, thank god it is another empty, unused lot being filled in with something that isn't a parking lot.

[futuresooner]

The talk in the development community lately is surrounding the city's largest law firm, Waller Lansden Dortch & Davis, has been courting the possibility of moving. They're currently located in 170,000 sq. ft. of space in the Nashville City Center on Union Street and have come to the decision to either stay put or become the anchor tenant for the West End Summit once their lease expires in 2014. If they decide to move then construction of the WES will begin almost immediately because this will lock in the necessary piece to secure financing for the development. The Intercontinental Hotel will supposedly begin at the same time, but doubtful the Summit Residences will be included for that tower.

There is no timeline for the decision as the firm is currently listening to proposals of either staying or going. Needless to say, the development and office space community will be watching this very closely in the coming months.

[arkitekte]

Originally Posted by futuresooner

The talk in the development community lately is surrounding the city's largest law firm, Waller Lansden Dortch & Davis, has been courting the possibility of moving. They're currently located in 170,000 sq. ft. of space in the Nashville City Center on Union Street and have come to the decision to either stay put or become the anchor tenant for the West End Summit once their lease expires in 2014. If they decide to move then construction of the WES will begin almost immediately because this will lock in the necessary piece to secure financing for the development. The Intercontinental Hotel will supposedly begin at the same time, but doubtful the Summit Residences will be included for that tower.

There is no timeline for the decision as the firm is currently listening to proposals of either staying or going. Needless to say, the development and office space community will be watching this very closely in the coming months.

It would be nice watching West End Summit take form, but what impact would that have on the City Center? Who are the other major tenants there?

[futuresooner]

Originally Posted by arkitekte

It would be nice watching West End Summit take form, but what impact would that have on the City Center? Who are the other major tenants there?

Besides offices for the State of Tennessee and First Tennessee Bank I'm really not sure. If Waller leaves then that puts the building at roughly 30% vacancy, give or take a few points.

I think the big glut of vacancy currently in downtown isn't in the high-profile towers but more of the older classes B and C.

[arkitekte]

Would Palmer still include a hotel at WES? What about Marriott still throwing their name around for a new tower around 50 floors? Do you think that will be the other "big" hotel to support the convention center?

[futuresooner]

Originally Posted by arkitekte

Would Palmer still include a hotel at WES? What about Marriott still throwing their name around for a new tower around 50 floors? Do you think that will be the other "big" hotel to support the convention center?

ICH, the main company running InterContinental Hotels, remains on the lsit for the development so one can assume they're still committed to the site. They admitted they've wanted to get into the Nashville market the past few years because of continued growth not only in tourism but in business and the MCC only is accelerating such development.

The rumored Marriott would go at 8th Ave South and Demonbreun, NW corner of the MCC and is on a lot currently owned by the First Baptist Church of Nashville. They want to sell the lot and are apparently entertaining offers.

Besides that, a new Hill Center (locally based Southeast Venture specializing in urban development) is proposed at 21st Ave South and Broadway, focused at mainly at retail.
http://docs.google.com/viewer?a=v&q=...nYkPVT1A&pli=1

[BnaBreaker]

I'm excited about the government building and museum development potential around the mall. I've heard that the new state archives, a new Tennessee state museum, and the National museum of African American music are the most likely to be developed first. Has everyone seen the rendering of the new NMAA? It looks wonderful, although I'm not crazy about the parking lots.

[arkitekte]

Originally Posted by BnaBreaker

I'm excited about the government building and museum development potential around the mall. I've heard that the new state archives, a new Tennessee state museum, and the National museum of African American music are the most likely to be developed first. Has everyone seen the rendering of the new NMAA? It looks wonderful, although I'm not crazy about the parking lots.

Any idea on when any of that development is going to start?

Also, any news on the Medical Mart? I know that they're slowly getting smaller tenants, but have they secured any larger ones?

[futuresooner]

Originally Posted by arkitekte

Any idea on when any of that development is going to start?

Also, any news on the Medical Mart? I know that they're slowly getting smaller tenants, but have they secured any larger ones?

There is no real timeline yet for the NMAAM and I didn't know about a new state museum and state library & archives building.

The Medical Mart is signing small tenants, granted at a slower pace than expected, but it will eventually take shape.

[BnaBreaker]

Originally Posted by futuresooner

There is no real timeline yet for the NMAAM and I didn't know about a new state museum and state library & archives building.

The Medical Mart is signing small tenants, granted at a slower pace than expected, but it will eventually take shape.

I'm pretty sure they are both in the infancy in the planning stage, but the plans are in place. I can't find much on the State Museum plans, but Tuck Hinton was already named the architect firm for the new archives building.

Here is a nighttime rendering from Tuck Hinton:



Here is a pdf rendering of the NMAAM for anyone who hasn't seen it. It's the only one I could find. I just realized that this is the back of the building not fronting the street.

http://nashvillepost.com/sites/defau...%20Culture.pdf

[arkitekte]

The NMAAM looks really good...can't wait to see more about it in the future.

[futuresooner]

Noticed something interesting last night while going to the bars on Church Street, there is fresh construction equipment, a backhoe, bulldozer, large truck, and construction shipping container on site. Those weren't there a few weeks ago, me thinks something is going to be happening at the West End Summit site soon.

[futuresooner]

Apparently from the few that are working on the West End Summit site right now they're confirming the rumors, West End Summit is going to get built. Now it would seem to make sense because they're directly employed at the site but until an official announcement is made, I won't put all my eggs in that basket but things appear to be leaning in favor of WES finally after all this time of getting built.

[arkitekte]

Originally Posted by futuresooner

Apparently from the few that are working on the West End Summit site right now they're confirming the rumors, West End Summit is going to get built. Now it would seem to make sense because they're directly employed at the site but until an official announcement is made, I won't put all my eggs in that basket but things appear to be leaning in favor of WES finally after all this time of getting built.

Thanks for posting this! Do you think it will be the same design with two towers, or one larger tower? Either are fine with me, I just hope it doesn't get smaller, which might actually happen.

[futuresooner]

Originally Posted by arkitekte

Thanks for posting this! Do you think it will be the same design with two towers, or one larger tower? Either are fine with me, I just hope it doesn't get smaller, which might actually happen.

I'm assuming the original design, the main question is with the shorter tower, the one containing the Intercontinental Hotel because above it was supposed to be the Summit Residences, which were going to be very top of the line, sort of like the units at The Adelicia just a handful of blocks away. The residences and hotel were supposed to share the amenities from what I can remember, but like I said the condos are a question.

The WES website remains unchanged, renderings and development partners are still listed as the same.
http://westendsummit.com/flash_conte...h_content.html

[arkitekte]

Originally Posted by futuresooner

I'm assuming the original design, the main question is with the shorter tower, the one containing the Intercontinental Hotel because above it was supposed to be the Summit Residences, which were going to be very top of the line, sort of like the units at The Adelicia just a handful of blocks away. The residences and hotel were supposed to share the amenities from what I can remember, but like I said the condos are a question.

The WES website remains unchanged, renderings and development partners are still listed as the same.
http://westendsummit.com/flash_conte...h_content.html

Its been a long time coming, but props to Palmer for keeping this together. Hopefully we will hear an announcement about this in the next few months.

[futuresooner]

The 300-unit apartment tower that is proposed for the Gulch is apaprently going to be 23 stories, so not too bad. It is on a higher hill than the rest of the Gulch so it will appear even taller than what it is, much like the downtown skyline. Although I have no idea where the Tennessean got a 2012 completion date, that is next to impossible this late in 2011 when they're just doing simple core drilling at the site as of late.

http://www.tennessean.com/article/20...text|FRONTPAGE

"Ray Hensler, president of Market Realty Advisors, proposed a 28-story condo tower in the Gulch just as the housing market stumbled. He recently switched the concept to an upscale 23-story, 300-unit apartment project expected for completion in 2012 at 12th Avenue South and Demonbreun. Its price tag will exceed $50 million."

[Dale]

Sounds like it's a goer in any case.