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  #1521  
Old Posted Jul 9, 2014, 2:11 AM
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KevinFromTexas KevinFromTexas is offline
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Holy smokes. That is a wicked cool gorgeous building. I hope that happens.

http://blog.archpaper.com/wordpress/...2.12.37-PM.png
http://blog.archpaper.com/wordpress/...7_000_N323.jpg
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  #1522  
Old Posted Jul 9, 2014, 2:22 AM
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Quote:
Originally Posted by KevinFromTexas View Post
Holy smokes. That is a wicked cool gorgeous building. I hope that happens.

http://blog.archpaper.com/wordpress/...2.12.37-PM.png
http://blog.archpaper.com/wordpress/...7_000_N323.jpg
It's already built...

It's Nashville's new convention center called Music City Center.
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  #1523  
Old Posted Jul 9, 2014, 3:26 AM
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Sweet. I was sort of rushed for time when I made that post. I came back and looked for more renderings/photos of it and saw that it was under construction/complete. Glad to see it was built. That is some truly beautiful architecture.
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  #1524  
Old Posted Jul 9, 2014, 2:27 PM
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$700M Ovation development gets approved.

Planned Ovation development in Cool Springs wins approval
Quote:
Franklin alderman have unanimously approved the proposed $700 million Ovation development in Cool Springs.
Developers SouthStar LLC and Highwoods Properties still must return to Franklin officials with a plan for parking, The Tennessean reports. Plans for Ovation, located at McEwen Drive and Corothers Parkway, include 1.4 million square feet of office space, a 450-bed hotel, 950 residences and 480,000 square feet of retail and restaurant space.
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  #1525  
Old Posted Jul 10, 2014, 5:11 AM
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A virtual tour of the new Triple A (First Tennessee) Ballpark for the Nashville Sounds. Scheduled to be ready April 2015. Take note of the scoreboard.
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  #1526  
Old Posted Jul 10, 2014, 7:51 PM
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Music Row is exploding with development. The 'Cadence' apartment project is slated to begin in early September. It will be 6-7 stories with 200 units, 5 stories of residential sitting on top of a 1-2 story parking garage all above ground.

'Cadence' development near Music Row about to speed up
http://www.bizjournals.com/nashville...-to-speed.html
Quote:
A new-to-Nashville developer expects to break ground by early September on a project involving almost 200 apartments in Midtown, near Music Row.

General contractors now are bidding on The Cadence. Plans call for five floors of units sitting atop a one- or two-story parking garage, all above ground.

The site in question is the corner of 16th Avenue South and McGavock Street — one block away from both the Music Row roundabout and the intersection where Broadway and West End Avenue diverge.
Quote:
Hart said eight of the 193 units in the building will be targeted to professionals coming to Nashville for shorter-term, specific jobs or projects. Hart said those eight units will have home offices and loft-style vaulted ceilings.
Quote:
The Cadence will also have efficiency units of 550 square feet, one-bedroom units that range from 724 square feet to 858 square feet and two-bedroom units ranging from 1,129 square feet to 1,300 square feet.
Quote:
Hart declined to disclose what the project will cost, or what lenders are funding construction. Typically, those loans are worth around 75 percent of a project's total price tag. The rest of the necessary financing comes from equity investments raised by the developer.



Yet another outside investor snatches up a downtown building. I can't even keep track of all the building's and properties sold downtown in the past year or so. I don't think there's much left to buy. Everything from the Pinnacle tower to this one has been sold to some outside investor trying to get a piece of the Nashville market.

Hilton DoubleTree hotel in downtown Nashville sells for $69M
http://www.bizjournals.com/nashville...nashville.html
Quote:
Chicago-based investors have paid $69.25 million for the DoubleTree hotel in downtown Nashville.
The hotel has 337 rooms. It was built in 1979, according to public records.
The new owner is Walton Street Capital, according to a deed filing. Walton Street is a private-equity real estate investment firm out of Chicago.
Walton Street bought the hotel from AEW Capital Management. An executive from that firm's Boston office signed the property deed.
Quote:
A dominant theme in Nashville real estate today is the volume of outside investors trying to establish a foothold. Walton Street, however, is familiar with Music City: The firm paid $37.5 million in 2012 to buy the 220 apartments that are part of Velocity in the Gulch, a mid-rise building that also includes condos.
The triangle-shaped DoubleTree hotel sits on a one-acre triangular site at 315 Fourth Ave. N. The hotel covers 240,000 square feet.
It last sold seven years ago, for $50 million.



The race is on for a developer to acquire the First Baptist Church property that Tony Giarratana backed out of recently. This is no doubt a prime piece of property that will sell quick and have a substantial development built on it.

Hotel developers bidding, again, on First Baptist Church's property by convention center
Quote:
Hotel developers remain intent on buying a site owned by First Baptist Church in downtown Nashville in the aftermath of a similar project collapsing.
Developer Tony Giarratana recently had to abandon plans for a 400-room hotel, after pursuing the project for 18 months.
Now, First Baptist Church is ready to embark on a second round of bidding for its 1.26-acre parcel, which is located across the street from the Music City Center.
The activity ought to reassure Nashville city leaders who are working to recruit conventions to the hulking facility, which opened in the spring of 2013. By their count, 16 conventions have bypassed Nashville since then due to a lack of hotel rooms.
Quote:
Nashville's convention officials say the city needs another 800 to 1,000 rooms at full-service hotels — a gap that a hotel on the church's property could help fill.
Hugh Sloan, who chairs the church's master plan implementation committee, said the goal is to complete the sale of the land before the end of this year.
A "terms of offer" document for prospective buyers will be available within a week, Sloan said. That will open a 30-day window when the church will accept bids, Sloan said.
To this day, Giarratana contends the site is primed for a hotel. He had wanted to bring a Marriott there, had he bought the land.
Quote:
Giarratana spent $1.26 million to continue extending his purchase contract with the church. But he said he was unable to assemble the equity investment that lenders want to see before they agree to finance construction.
"Unquestionably, your property ... is the best site for Nashville's next full-service hotel," Giarratana wrote in a June 30 letter to church trustees.



Gallatin auto-supplier adding 230 jobs as part of $25.5M expansion
http://www.bizjournals.com/nashville...s-part-of.html
Quote:
A subsidiary of ABC Group, an automotive supplier, is investing $25.5 million to expand its operations in Gallatin.
According to a news release, ABC Technologies will add an additional 180,000 square feet of space to its existing facility in response to increased demand. As part of the expansion, ABC will create 230 jobs over the next five years. The plant currently employs 196 people.



Survey ranks Nashville the fifth-best city in the country for business startups
http://www.bizjournals.com/nashville...ty-in-the.html
Quote:
A new survey ranks Nashville as the fifth-best city in the country for startups.
Nerd Wallet Finance looked at factors including available funding, human capital, local economy, business-friendliness and affordability in compiling the rankings, NewsChannel 5 reports. Oklahoma City topped the list.




Plan to transform zoo carries strong potential
http://nashvillepost.com/blogs/postb...rong_potential

Nashville Zoo expansion plans: Lions, cheetahs, otters and more
http://www.tennessean.com/story/news...lans/12418137/
Quote:
Lions, rhinos, cheetahs, gorillas, penguins and other new critters are headed to Nashville as part of a $160 million expansion plan unveiled Wednesday by the Nashville Zoo.

The plan, which promises to more than double both the number of animals on exhibit and the zoo's developed acreage by 2020, was touted as a major boon to economic development. Zoo President Rick Schwartz predicted that the expansion, which also will add hippos, giant otters, spider monkeys and Andean bears to the zoo's menagerie, will mean an anticipated 1.2 million visitors a year. That's more than a 50 percent increase.

The announcement also served as a launch point for a private fundraising effort to see the project through. The zoo has received $28 million in commitments so far, including $15 million from the city.
Quote:
"The potential here is unbelievable," said Mayor Karl Dean, who stood in front of the elephant enclosure as he endorsed the expansion plans.

Schwartz said the zoo's 188 acres would be developed once the plan is fully implemented. When the undeveloped land is included, the zoo is the ninth-largest in the United States.

Schwartz said the zoo has the capacity to rival some of the best zoos in the country, and mentioned the San Diego Zoo as one that draws visitors from afar.

"Our goal really is to make this a world-class zoo," he said. "A world-class zoo for a world-class city."
http://www.thinglink.com/scene/543514212874321922


Last edited by MIRYDI; Jul 11, 2014 at 12:24 AM.
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  #1527  
Old Posted Jul 10, 2014, 10:06 PM
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The Cadence to start September 2014 in Mid Town

More news from Nashville Business Journal: (my PowerPoint slide)




Quote:
A new-to-Nashville developer expects to break ground by early September on a project involving almost 200 apartments in Midtown, near Music Row.
General contractors now are bidding on The Cadence. Plans call for five floors of units sitting atop a one- or two-story parking garage, all above ground.
The site in question is the corner of 16th Avenue South and McGavock Street — one block away from both the Music Row roundabout and the intersection where Broadway and West End Avenue diverge.
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  #1528  
Old Posted Jul 10, 2014, 11:12 PM
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^That's good to hear. I had pretty much forgotten about this project, but in any case it will be good infill.
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  #1529  
Old Posted Jul 11, 2014, 1:03 AM
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Originally Posted by arkitekte View Post
^That's good to hear. I had pretty much forgotten about this project, but in any case it will be good infill.
It's always good to hear about dense residential being built in the greater urban core, but in this case the proximity to and view from the iconic Broadway/West End split gives me cause to wonder if a more optimal mixed-use structure would be more appropriate for this area.

I feel this junction will be Nashville's 'Time Square' at some point. The failure of the West End Summit to rise has been a major holdup to this corner realizing that potential. But it is too much in the City's focus to not be the next center of incredible growth and development in the not too distant future. I can see a cluster of high rises going in here and feel like a 5 story, 'stick and stucco' building would not fit in well.

Picture a 20 story 'Flatiron' Building in the middle flanked by as large or larger on either side of the split and you can see the potential for a grand, alternative downtown area.




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  #1530  
Old Posted Jul 11, 2014, 1:51 AM
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Quote:
Originally Posted by MidTenn1 View Post
It's always good to hear about dense residential being built in the greater urban core, but in this case the proximity to and view from the iconic Broadway/West End split gives me cause to wonder if a more optimal mixed-use structure would be more appropriate for this area.

I feel this junction will be Nashville's 'Time Square' at some point. The failure of the West End Summit to rise has been a major holdup to this corner realizing that potential. But it is too much in the City's focus to not be the next center of incredible growth and development in the not too distant future. I can see a cluster of high rises going in here and feel like a 5 story, 'stick and stucco' building would not fit in well.
I could agree with that if this area was extremely dense and on the verge of being built out in the next 10 years, but we're pretty far from that. If anything I would say that SoBro or the Gulch would have that issue to worry about far before that split, especially with the fast food restaurants, street front parking, car dealerships, gas stations, etc. that are still present.

Planning for an optimal mixed use structure that could be iconic is all good, but in reality each one that's been proposed hasn't gotten out of the ground. If low rise residential kills surface lots and gives the area a more urban feel then I'm all for it although I wish the amount of stucco being used would drop drastically.
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  #1531  
Old Posted Jul 11, 2014, 7:46 PM
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United Methodist Publishing House buys new home, clearing way for hotel and condos downtown
http://www.bizjournals.com/nashville...-new-home.html
Quote:
A new property sale clears the way for developer Turnberry Associates to bring a 450-room hotel, 250 condos and upscale restaurants to a site across from Nashville's convention center.
On Friday, the United Methodist Publishing House paid $9.25 million for buildings in MetroCenter, just north of downtown.
According to the property deed, the seller was Lake Front Office Park LLC. Investors in the entity included the estate of Bud Adams, the deceased former owner of the Tennessee Titans football team, and Corner Partnership, comprised of three longtime Nashville real estate developers and investors.
Quote:
That transaction was the first domino that had to fall in order for Turnberry to pursue its project — which is set to be built on the current home for the United Methodist Publishing House, at 201 Eighth Ave. South.
Turnberry is under contract for that site, but couldn't close until the publishing house first found a place for a new headquarters.
Turnberry is majority owner of two downtown Nashville hotels, Union Station and the Hilton. The company's hospitality division is run by lifelong Nashville resident Ray Waters, who previously ran those two hotels before being promoted to Turnberry's Miami headquarters last year.
Quote:
When I spoke with Waters last week, he declined to disclose what Turnberry will pay for the publishing house site. "They're right where they need to be in the process, and we are right where we need to be, too," Waters said.
Lately, there's been a lot of attention paid to the deficit of full-service hotels close by to the Music City Center, which opened last April.
Nashville convention officials have said 16 conventions — representing some 90,000 room nights — have bypassed Nashville for that very reason.
Turnberry's hotel would help close that gap. So would a Westin proposed nearby. If all stays on track, that hotel would open in 2017 with 430 rooms.




West Nashville could land modern townhouse project
http://nashvillepost.com/blogs/postb...nhouse_project
Quote:
Nashville-based Root Architecture (stylized at rootARCH) has posted to its Facebook page a rendering of a modern townhome project planned for West Nashville.

There are minimal details accompanying the posting. For example, the post does not disclose a specific location or a developer.

Root Arch officials could not be reached for comment but note in the posting they are “refining the details of the design” and will post more information soon.

Last edited by MIRYDI; Jul 11, 2014 at 8:52 PM.
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  #1532  
Old Posted Jul 12, 2014, 10:21 PM
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Re: Times Square, it is fine to have a commercial district with lots of lights, but at its core it needs to be a public space. A public space would be walkable, where you could hold events, with a lot of shopping and/or entertainment in the area. You'd have to essentially shut down traffic on the major thoroughfare and create a park in the middle of it. The utter fit some have had over AMP doesn't make me think Nashville's ready for a transit accessible public space where its a hub of people activity as opposed to just a business/residential area. Times Square has been increasingly a pedestrian only area as streets are shut down, Dundas Square in Toronto is primarily a pedestrian area with streetcars surrounding it for public access. I've never heard of any plans even if a few buildings pop up in the area for this to be an entertainment/shopping/pedestrian location.

Just viewing video of the commercial squares in first tier cities shows the pedestrian orientation. Takes a lot of foot traffic and business traffic.

Times Square:
Video Link


And of course large events can be held, such as this event highlighting pot in Toronto's Dundas Square. You'd have to make for a lot of space:
Video Link
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  #1533  
Old Posted Jul 13, 2014, 1:58 PM
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Zoo: I truly hope that those plans for the Nashville zoo comes to fruition. Nashville needs something that is a major family attraction. And, something that establishes the city for something other than country music entertainment for tourist. I know there is a lot more to Nashville than that, but most people outside of Tennessee do not.

Broadway & West End: It would be great to have a nice building at the intersection of Broadway and West End, however, I doubt that the area would ever become Time Square like. Plus the car dealerships are not going anywhere until somebody pays them a hefty price for their property. I wish that would happen because I just think that is wasted real estate for car dealerships. So much more could be and should be done with that property. I was hoping that if the WES got off the ground it would have served as a catalyst for transforming the area into a more office and residential towers along with street level shops and restaurants.
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  #1534  
Old Posted Jul 13, 2014, 2:23 PM
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Quote:
Originally Posted by James Owen View Post
It'll be interesting to see how this proposed hotel project goes with the site being adjacent to the city's three HBCUs (Tennessee State, Fisk, and Meharry). Speaking as a TSU alum, I'm hoping it'll be a successful one if done right and spark efforts to further revitalize the immediate area.
TSU Alumni and supporters have long hoped for additional infrastructure and commercial development in the area of TSU, Fisk and Meharry. It would be great to see a hotel like a Comfort Inn Suites, Hampton Inn, even a Holiday Inn build in that area. The problem is sufficient land space to do it as most of the land in that area is bound by residential streets. I think the best location for a hotel in the area is actually closer to the Jefferson & 28th. The stretch of land from I-40 down to 28th is really the area that would be able to accommodate a hotel and other commercial development without uprooting too many residential properties. It is has more open space and could be converted to a small college park type area with small shops and restaurants. It's an area that could also support mid-rise apartments with street level store fronts.

Of course the biggest obstacle for developing that area is being able to change the mindset that the area is a haven for crime. As a TSU alum you know that all too often there is a perception that the area is full of crime, drugs, prostitutes, etc. When the reality is it is not. Sure the area has it's issues, but if the area is properly developed, it can be another successful renaissance for the Nashville area. Living in the Washington, DC area, I've seen far worse areas transform to highly successful commercial and residential areas. If DC can transform all of 14th street (which was one of the worst streets for crime in America), Nashville can transform Jefferson from end to end.

Last edited by PillowTalk4; Jul 13, 2014 at 2:45 PM.
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  #1535  
Old Posted Jul 14, 2014, 6:41 AM
Dr Nevergold Dr Nevergold is offline
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I'm all for a Zoo expansion, but at the end of the day virtually every city of size has a zoo. In order to expand tourism, distinct events have to become more and more the norm. In so far as "Times Square", as the city grows there is potential for a commercial-public space so to speak, if that's what you want to call it. But the city still has a lot of growing to do. It starts with embracing rapid transit instead of relatively cheap, small projects like AMP being a huge debate. You gotta have a true rapid transit system to ferry around urban traffic volume to grow in urban fashion, it can't continue to be a car-only city. The STAR doesn't count as it isn't an urban rapid transit solution and its a handful of commuter trains in and out per day.
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  #1536  
Old Posted Jul 14, 2014, 1:47 PM
PillowTalk4 PillowTalk4 is offline
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Quote:
Originally Posted by Dr Nevergold View Post
I'm all for a Zoo expansion, but at the end of the day virtually every city of size has a zoo. In order to expand tourism, distinct events have to become more and more the norm. In so far as "Times Square", as the city grows there is potential for a commercial-public space so to speak, if that's what you want to call it. But the city still has a lot of growing to do. It starts with embracing rapid transit instead of relatively cheap, small projects like AMP being a huge debate. You gotta have a true rapid transit system to ferry around urban traffic volume to grow in urban fashion, it can't continue to be a car-only city. The STAR doesn't count as it isn't an urban rapid transit solution and its a handful of commuter trains in and out per day.
You're right that every city of size has a zoo. However, not every city has a zoo that people truly remember and will return to regularly. The steps that the zoo officials in Nashville are taking can prepare this zoo to be a destination zoo. Not just a side thought. If Nashville could manage to add an amusement park it will once again be a major destination city for family vacations.

I agree with you wholeheartedly regarding the need for real mass transportation in Nashville. The longer Nashville fusses over the need for mass transportation and delays taking steps to build some type of rail system combined with supportive bus routes, the worse traffic will get and the more expensive it will be to build. People visiting Nashville just are not going to hop in their cars to go from downtown to midtown, from mid-town to the Gulch or any other area of town with constant traffic delays and having to find and pay for parking. I'm not a fan of the city of Boston, but recently I had a layover in Boston that was about 3.5 hours. I really didn't want to sit in the airport the whole time, but I also didn't want to pay for a cab to go somewhere and then have to find another cab to return to the airport. After all Boston isn't NYC where cabs are everywhere. However, I discovered what they call the Silver Line which is a dedicated bus route that runs from the airport directly to downtown (near their convention center) with a few stops along the way. It almost operates like a subway because a portion of the trip is actually underground and the buses have the capability to switch between gas and electric power. The bus uses gas where the electric grid isn't available then switches to electric (after about a 1-2 minute stop) when it's in areas of town with the grid and underground. The trip from the airport is free to all stops. The cost to return to the airport from where I boarded was $2.15. So, I took the Silver Line into downtown, went to a nice restaurant to grab a bite to eat, did a little shopping, walked around a park and then headed back to the airport. Total transportation cost ... $2.15. No cabs, no rental car, no parking expenses and it was very straight forward. If I wanted to I could have connected to other lines or their rail system to go to other parts of town. The AMP may not be the ideal solution but it's a start towards bringing mass transportation to areas of Nashville that need and to help move tourist around as well.
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  #1537  
Old Posted Jul 14, 2014, 3:36 PM
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Permit Patrol: 14 July 2014
http://nashvillepost.com/news/2014/7...l_14_july_2014
Quote:
1515 finishing out

The 19-floor, 431-unit apartment complex 1515 Demonbreun — which will also include 6,000 square-feet of retail and 600 parking spaces — will take $39 million to finish out. JE Dunn Construction has the contract. The construction site shows the footprint of the first floor of the building, with the tower now set to rise.



Quote:
Houston Station gets tenants

Houston Station — a vintage industrial building located at 438 Houston St. and that was the original home of May Hosiery but is probably better known as the ex-headquarters of the American Syrup Co. — is getting a host of new tenants. Dovetail pulled nine permits, totaling $275,000, for finish-out work for Second Look Studios, Nine Entertainment, Showtime Productions, Impact Hub Nashville, Abrasive Media, Statton Studios, Value Parking, 12th Table and Lane Photography.




Quote:
20/20 at the Frost

Thomas Constructors will perform $700,000 in work on five floors of the Frost Building, located downtown at 161 Rosa L. Parks Blvd., for 20/20 Research.


Casual street food concept headed to 12South
http://nashvillepost.com/blogs/postb...ded_to_12south
Quote:
Matt Rogers reports that Bartaco, a casual street food concept from a restaurant group out of Connecticut, has committed to leasing space in the 12 South Center under construction at the corner of 12th and Montrose avenues. Local developer Paul McRedmond early this year broke ground on the three-story 12 South Center.




More development for Music Row.

For Music Row and Panattoni Development, something new
http://www.bizjournals.com/nashville...something.html
Quote:
Construction is imminent on what would be the first sizable, top-grade office space built on Nashville's famed Music Row in years, if not more than a decade.
Panattoni Development Co. and its sister construction company, Alston Construction Co., are developing 95,000 square feet of Class A office space. Digging for an underground parking garage is scheduled to begin within the next month.
Quote:
This project sends important signals about the evolution of Nashville's music business, and about Panattoni's business model in Nashville.
SESAC will lease some space in the building, which will serve as its new headquarters — retaining the company's Music Row presence. SESAC is a performance rights organization, which means it collects and distributes royalties for artists and also works on licensing.
Quote:
The Panattoni building could help keep some of those growing music companies on storied Music Row. Construction will be going on at the same time that artist and producer Ben Folds is championing a push to save RCA Studio A, the lesser-known sibling of RCA Studio B, from being sold to developers
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  #1538  
Old Posted Jul 14, 2014, 8:54 PM
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Here's an article in the NBJ about millennial's likes and dislikes about Nashville. The top qualities are professional opportunities and quality of life, while the dislikes are lack of affordable housing and mass transit. No surprise there.

The mind of millennials: What they like, and don't like, about Nashville
http://www.bizjournals.com/nashville...-and-dont.html
Quote:
But the survey also shows that Nashville could be falling behind in two critical areas: affordable housing and mass transit. The survey respondents cited public transportation, innovation and affordable and quality housing options as the biggest needs for Nashville’s future as a progressive city. In recent months, Mayor Karl Dean’s proposed Amp bus rapid-transit has faced opposition, and just last week, Nashville was ranked the seventh-hardest Metro area to find an apartment, fueled by rising rents and demand outpacing supply.
Even with all the residential development here, demand is far outpacing supply causing rents to skyrocket. Several thousand units came online last year but the occupancy rate is still almost at 100%. I mean, it seem's like residential units are coming online at a pretty rapid pace, and I know there's something like 10-15K+ units in the pipeline, but I guess it's still not nowhere enough to put a dent in the demand. I'm not sure how much faster and how much more needs to built to saturate the market enough to help combat the rising prices, but something needs to be done fairly quickly. Nashville was always attractive to people from other parts of the country for being an affordable place to live, but it seem's like that's not so much the case anymore. This could slow down population growth and that's not a good thing.

As for mass transit......Pssh. Were getting farther and farther behind everday. As other peer cities like Austin and Charlotte propose multi billion dollar rail systems, we sit here and debate over a watered down cheap BRT that will probably never see the light of day. What's even worse is some city officials here don't even want mass transit. It's truly disheartening to see how this is playing out.
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  #1539  
Old Posted Jul 14, 2014, 10:37 PM
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Creators of the Gulch targeting more office buildings
http://www.bizjournals.com/nashville...re-office.html
Quote:
Jay Turner is sizing up where he wants to build his second office building in the Gulch, one of the hottest growth spots in Nashville's urban core. If all goes as planned, Turner could kick-start efforts to recruit tenants sometime next year.
Don't take that to mean Turner is in a rush.
Turner is managing director of MarketStreet Enterprises, which already has one mid-rise office building under construction. The glass-walled building, at Demonbreun Street and 11th Avenue South, will include ground-floor retail and 205,000 square feet of top-quality Class A office space.
The building is set to open next spring. "Our plan is soon thereafter to build another office building," Turner said.
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Four companies have leased a combined 60 percent of that space, starting with the building's architect, Earl Swensson Associates Inc. The group also includes commercial real estate brokerage Cassidy Turley, the Bank of Nashville and financial adviser Raymond James.
MarketStreet is run by Jay Turner and his father, Steve, both of the family that founded locally headquartered retail chain Dollar General. There are multiple developers playing in the Gulch, which is located just inside Interstate 40. But MarketStreet made the largest gamble, and is recognized as the pioneer of the effort (now 15 years old) to turn a rundown rail yard with abandoned warehouses into a vibrant area with luxury apartments and condos, high-end retailers and upscale trendy restaurants.
Construction on the Gulch's first office building, named Gulch Crossing, began earlier this year. Residential and retail came first. They had to, to help attract office tenants, Jay Turner told me in a phone conversation Monday.
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"We had to do it in that sequence because we knew an office building in the Gulch would be expensive. You have to get a higher lease rate for office space there, so we wanted the Gulch to be so attractive for new tenants. Their employees can live there, eat lunch and dinner there, and shop there," Turner said.
"We anticipate building much more office there to keep it going," Turner said.
Gulch Crossing is the Gulch's first office building. The second is a yet-unnamed building at 1201 Demonbreun, developed by Eakin Partners. That building will rise 15 stories, with 275,000 square feet of office space. Groundbreaking is supposed to occur later this summer.
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Turner said he'll be watching both, and in general, paying attention to demand for office space in downtown and the Gulch. He uses the term absorption, which is the net change in the amount of a market's office space that is leased and occupied.
"If it's absorbing as quick as I think it will, then yes, sometime next year may be a good time to start actively preleasing our new office building," Turner said. "We've actively explored where it would be. We'll see what the market is like, but if we're correct, more businesses will keep wanting to move into the urban core."
Turner said MarketStreet already has sites in possession where an office building could go. The company has clearance to develop up to 2 million square feet of office space in the Gulch; that first building, Gulch Crossing, represents a tenth of that maximum.

Last edited by MIRYDI; Jul 14, 2014 at 11:39 PM.
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Old Posted Jul 15, 2014, 1:02 PM
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MIRYDI MIRYDI is offline
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Don't have all the images cause the article is behind the paywall, but this is one rendering of the Parallon headquarters in the North Gulch. Say's it 14 stories (taller then I expected) and looks nothing like I thought it would. Hopefully I can get some more renders and some of the other building as well.

http://nashvillepost.com/news/2014/7...or_north_gulch
Images show 14-story HCA tower for North Gulch
Gresham Smith gives Parallon building contemporary look, plenty of retail


Last edited by MIRYDI; Jul 15, 2014 at 2:00 PM.
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