NASHVILLE | The SoBro | 345 FT | 32 FLOORS

[futuresooner]

Plus with the addition of 70 more units, I think they know something is definitely up. Latest figures for downtown show the rental occupancy rate at an astounding 98%. This is 3 more floors taller than the old rendering and do believe this may crack 400ft if they didn't squash floors.

As I said on another site, I'd like to see what the elevation is we're looking at and see other renderings and schematics. Per another site as well, the site has been marked up by surveyors, which is another positive sign.

[arkitekte]

Originally Posted by futuresooner

Plus with the addition of 70 more units, I think they know something is definitely up. Latest figures for downtown show the rental occupancy rate at an astounding 98%. This is 3 more floors taller than the old rendering and do believe this may crack 400ft if they didn't squash floors.

As I said on another site, I'd like to see what the elevation is we're looking at and see other renderings and schematics. Per another site as well, the site has been marked up by surveyors, which is another positive sign.

Thanks for pointing that out, I overlooked reading that. The usual Debbie Downer(s) are also out...constantly bringing up The Signature's failure when the circumstances are completely different.

[Dale]

I was just going to say that the usual Debbie Downer on SSC is citing the redesign as evidence that this is going the way of Signature Tower - nowhere.

[Henburg]

If anything I see it as the opposite. The new design has added units as well as floors, whereas Signature Tower was scaled back. Another important thing about this project is that Tony has partnered with Magellan Development Group, who has developed a lot of notable buildings in Chicago, including the Aqua. To me these are both positive signs.

[arkitekte]

Originally Posted by Henburg

If anything I see it as the opposite. The new design has added units as well as floors, whereas Signature Tower was scaled back. Another important thing about this project is that Tony has partnered with Magellan Development Group, who has developed a lot of notable buildings in Chicago, including the Aqua. To me these are both positive signs.

You're right on point Henburg. Financial trouble does not correlate to the addition of units, a new partnership, and survey markers being on site. If anything, you would see the exact opposite; as we did with Signature. As futuresooner mentioned, the rental market downtown is 98% leased. That's unreal, and someone like Tony G, who specializes in residential development is too smart and powerful not to be able to cash in on it.

Originally Posted by Dale

I was just going to say that the usual Debbie Downer on SSC is citing the redesign as evidence that this is going the way of Signature Tower - nowhere.

What's funny about those specific comments is that they're completely out of the blue and make little sense.

[futuresooner]

Considering it seems obvious Tony's partner is Magellan Development from Chicago, who has a terrific track record with Lakeshore East, it makes me wonder if this project is a hit that they won't try and further their presence in SoBro in the future.

[ariesjow]

Originally Posted by Dale

I was just going to say that the usual Debbie Downer on SSC is citing the redesign as evidence that this is going the way of Signature Tower - nowhere.

I think he is just being cautious. Signature Tower was an embarrassing disappointment. Since this is possibly Tony G's first tower after that bust, I think it's okay to be cautiously optimistic.

What intrigues me about this one is the fact that Megellan Development is on board along with the same architects who designed Aqua. Giarratana may have played this one close to the vest and be close to getting this one out of the ground. I guess we will all have to wait and see.

After reading the report that was attached to the article from the Post, it is readily apparent that there is a huge demand for downtown Nashville housing right now and we remain far behind comparable cities in the number of available units. Perhaps we can support both this project and Hensler's high-end tower in the Gulch.

[Austinlee]

I think the tower should be called SupBro so it's a complete sentence.

[Dale]

Originally Posted by ariesjow

I think he is just being cautious. Signature Tower was an embarrassing disappointment. Since this is possibly Tony G's first tower after that bus, I think it's okay to be cautiously optimistic.

What intrigues me about this one is the fact that Megellan Development is on board along with the same architects who designed Aqua. Giarratana may have played this one close to the vest and be close to getting this one out of the ground. I guess we will all have to wait and see.

After reading the report that was attached to the article from the Post, it is readily apparent that there is a huge demand for downtown Nashville housing right now and we remain far behind comparable cities in the number of available units. Perhaps we can support both this project and Hensler's high-end tower in the Gulch.

That's what I'm saying. On this one there are more signs pointing to optimism than caution.

[arkitekte]

Originally Posted by Austinlee

I think the tower should be called SupBro so it's a complete sentence.

No Austin, that's the name of the store located in the base selling Tap Out and Affliction merchandise.

[xXSkyscraperDudeXx]

Nice Project! Love the Base

[futuresooner]

Another website has mentioned that reliable sources can say that this project now has financial backing in hand and we can expect an announcement soon. This could start a race between it and the 12th & Laurel development in the Gulch.

[Dale]

Originally Posted by futuresooner

Another website has mentioned that reliable sources can say that this project now has financial backing in hand and we can expect an announcement soon. This could start a race between it and the 12th & Laurel development in the Gulch.

If financing is in hand why is it essential for SoBro to beat Hensler to groundbreaking ? Isn't the prognosis for both favorable ?

[futuresooner]

Originally Posted by Dale

If financing is in hand why is it essential for SoBro to beat Hensler to groundbreaking ? Isn't the prognosis for both favorable ?

Well both would likely want to be the first to deliver their units, not necessarily break ground because no two towers have the same timetable for construction from start to finish. The first to deliver the ultimate in high rise apartment living in a city that is SEVERLY lacking in such gets a big boost from all the attention of being the first.

[ariesjow]

Looks like the SoBro is inching closer to becoming a reality.

Site work done for proposed SoBro skyscraper

Giarratana Nashville’s proposed SoBro residential tower may have taken a step forward.

Officials with Barge Waggoner Sumner & Cannon were spotted Thursday on the site of the proposed 33-story residential skyscraper. (Read more here.) If built, SoBro would address Demonbreun Street and Second and Third avenues south, rising south of The Pinnacle at Symphony Place in the district for which it has been named.

Giarratana Nashville officials could not be reached for comment but a source familiar with the work said the development company wanted to refine architectural and engineering plans and needed additional topographic data.

[arkitekte]

Giarratana, partners seal deal to pursue 32-story SoBro tower

Developer Tony Giarratana has transferred a pair of properties for $7.1 million to a joint venture that plans an apartment tower that would become one of Nashville’s tallest buildings.

The 32-story tower called SoBro will include more than 300 apartments, nearly 20,000 square feet of restaurant and retail space and more than 500 parking spaces. The project’s developer, WMG Realty Holding Co. LLC, is a joint venture of Giarratana’s SoBro Development Co., Wanxiang America Real Estate Group and Magellan Development Group of Chicago.

“Together with Magellan Development and Wanxiang America Real Estate Group, SoBro will be the first of our ‘next generation’ of residential towers that will significantly raise the bar for urban living in Nashville,” Giarratana said, adding that he and other partners have previously developed more than 1,100 residential units in Nashville, including condos.

Article from the Tennessean here:
http://www.tennessean.com/article/20...E&sf15060347=1

This is good news. The article states that there's not a firm start date for construction, but that they are focusing on getting started before the end of the year.

[EarthRocker]

This is super news. I wonder if we should expect any alterations to the design before construction starts; I think that newer rendering looks pretty cool.

[arkitekte]

Originally Posted by EarthRocker

This is super news. I wonder if we should expect any alterations to the design before construction starts; I think that newer rendering looks pretty cool.

I either saw someone post it here or over on UP, but the second design is the one that will be built. I imagine there might be a few small changes to the design; more so to the site and at street level versus the actual tower.

[futuresooner]

Stormwater variance applied for the site because it's in the flood plain. While not really significant, it does show that things are being done behind the scenes.

[arkitekte]

The SoBro was mentioned in a NBJ article about another Tony G development. Hopefully this news is accurate and we'll have a groundbreaking in the next few months.
http://www.bizjournals.com/nashville...l-company.html

Giarratana gave the Nashville Business Journal a first glimpse at the mixed-use project, code-named "Sheet Music," which is slated for the southeast corner of Fourth Avenue and Demonbreun Street, next to the Encore condominium tower. On the other side of the Encore, Giarratana plans to break ground on a luxury apartment high-rise by the end of the year.