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Local collections firm adding 70 Kentucky jobs

Venerable local collections company Frost-Arnett is preparing to add 70 people to its 115-employee Campbellsville, Ky., call center to handle an increase in health care work. The Campbellsville call center was Frost-Arnett's largest when it opened in 1999 and the company is investing more than $600,000 on its latest expansion. The company's press release is available here.

To encourage the investment and job creation in Campbellsville, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $300,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.

Apr 22, 2014 1:23 PM

NY money manager declares 5% Brookdale stake

A New York-based investment manager has filed papers with the Securities and Exchange Commission saying it now owns more than 5 percent of Brookdale Senior Living's shares. Visium is home to more than 130 people and manages $5.5 billion for its clients, running both long and short strategies. Shares of Brookdale (Ticker: BKD) are up slightly today to $31.91 and have risen 17 percent year to date.

Apr 22, 2014 12:25 PM

WMN names Bright national director of promotion

Warner Music Nashville has appointed Katie Bright to national director of promotion. Bright has been with WMN since early 2012, having most recently served as regional promotion manager. Read more here at musicrow.com.

Apr 22, 2014 9:53 AM

B3 Studio to give 2424 Lofts a modern aesthetic

Nashville-based businessman Tamay Ozari has enlisted B3 Studio of Brentwood to design what he envisions will be a highly contemporary residential building located on Charlotte Avenue.

Ozari (pictured) announced the project, to be called 2424 Lofts, last week.

“It will be a modern design and … will feel very good for our tenants,” said Ozari, who will build the approximately $4.5 million 32-unit apartment structure at 2424 Charlotte Ave. near Centennial Medical Center, HCA and the Lentz Public Health Canter.

John Barnett, B3 co-principal with Paul Bass, said the building will be shaped like an L, with the portion running perpendicular with Charlotte to face downtown, while the piece that fronts Charlotte will offer views of Midtown and Centennial Park. The five-story structure will stand about 55 feet at its tallest point.

I’m envisioning an exterior with metal panels, brick and large windows,” Barnett said. There will be modern detailing and nice, clean lines.

Ozari, the owner of L&L Restaurant Equipment at 3814 Charlotte Ave., said he will soon release a rendering of 2424 Lofts.

Apr 22, 2014 8:30 AM

Groundbreaking for planned SoBro skyscraper takes step forward

Groundbreaking for proposed downtown luxury apartment tower SoBro might be looming.

James McHugh Construction Co. — the Chicago-based general contractor that fellow Windy City company Magellan Development Group typically uses for its skyscraper projects — recently leased office space in a building located at 418 Second Ave. S., about two blocks south of the site on which the 33-story SoBro will rise.

Magellan is teaming with Giarratana Development for SoBro (read more here).

McHugh is one of the nation’s largest construction managers and general contractors and has enjoyed individual years with revenues of more than $500 million. In Chicago, the company built  including Marina City, Water Tower Place and Trump Tower, each of which was the world's tallest reinforced concrete structure at the time of its completion. 

Austin Benedict represented McHugh, while Vickie Saito represented building owner Paul Harmon. Both brokers work with Colliers Nashville.  

On a side note, Harmon is a Brentwood-based visual artist.

Apr 22, 2014 7:00 AM

Hill Center Sylvan Heights site undergoes core drilling

H.G. Hill Realty Co. has had geo technical sampling done on the Charlotte Avenue site of its proposed Hill Center Sylvan Heights mixed-use project.

Nashville-based TTL Inc. undertook the core drilling, which will help Hill’s engineers best determine loads for the building design.

“We are in design [phase] and hoping for a late fall start,” Jimmy Granbery, Hill Realty CEO, told the Post.

Hill is working with Barge Cauthen & Associates (engineering), Hawkins Partners (planning and landscape architecture), RPM Transportation Consultants (traffic study) and Southeast Venture (design) on the project (read more here).

Demo has already started on some houses on the site.

Apr 22, 2014 6:45 AM

Nashville home prices among nation's fastest growers

Just five cities are seeing bigger increases in median home prices than Nashville these days, according to the researchers at ZipRealty. Of that group, all but Chicago are in the far West. The value of Middle Tennessee's median home is up 13 percent year over year, more than four points higher than the national average — which is in the single digits for the first time in a year.

Apr 22, 2014 6:23 AM

Tower crane in place at Forestar project on west side

A tower crane has been erected on the West End Park site of Austin-based developer Forestar Group's under-construction Acklen. Franklin-based Construction Enterprises Inc. is serving as general contractor. The project (read more here) was formerly called Westmont Apartments.

Apr 21, 2014 12:27 PM

Nashville's per-gallon gas price average increases 2 cents

The average per-gallon price of regular gas in Nashville on Sunday was $3.52, up two cents from the mark of a week ago and up 23 cents from the $3.29 figure from four weeks ago, according to AAA The Auto Club Group.

Relatedly, Tennessee’s average price was $3.50 Sunday, up two cents compared to the $3.48 figure from the previous week.

By contrast, the national average for gasoline ($3.67) inched up three cents during the past week.

Gas prices are beginning to stabilize after going on a streak of more than 20 days of increases, AAA reported. Weekly gains were also much smaller during the past week compared to marks from the previous weeks.

"During the past week, gas price increases slowed until they finally stopped over the weekend," Mark Jenkins, spokesman for The Auto Club Group, said in a release. "It is too soon to know whether we have seen the peak price for the season, but this is a good sign that relief is on the way for motorists at the pump."

Gas prices typically peak in the spring, according to AAA. During the last three years, prices peaked in February 2013, April 2012 and May 2011. Summer gas prices become more volatile, greatly influenced by demand, geopolitical tension and natural disasters, AAA reported.  

Typical spring fundamentals and geopolitical conflict will strongly dictate how prices move in the coming weeks, AAA said. Refineries in the Gulf of Mexico that reduced output during maintenance season are returning to full operation. However, any unexpected setbacks could cause prices to rise.

Meanwhile, tensions between Russia and the Ukraine continues to place upward pressure on the price of oil, according to AAA. There are concerns that sanctions imposed by Western countries might impact exports from Russia, which would also cause oil prices to spike.

For comparison with Tennessee’s average of $3.50, Florida's average of $3.76 rose four cents from last week’s mark, while Georgia’s average of $3.65 increased seven cents.


Apr 21, 2014 11:53 AM

Vanderbilt researchers discover new lung cancer target

Vanderbilt University researchers have identified a potential new target and treatment for subtypes of lung cancer.

In a study published in the current issue of Journal of Clinical Investigation, researchers found a receptor that promotes lung tumor growth. In collaboration with colleagues at Harvard Medical School, they also identified a molecule compound that blocked the receptor's activity, killed human lung cancer cells and reduced the size of lung tumors in a mouse model.

"We are very excited about the implications of these findings," Katherine Amato, VU graduate student and research leader, said in a release. "It is vitally important that we identify new targets that can be used in the treatment of lung cancer, which causes approximately 160,000 deaths in the United States each year."

More studies are needed before the compound can be tested in humans, but researchers expect that by discovering and targeting specific tumor vulnerabilities, doctors can provide more efficient and effective personalized treatment.

"The landscape of lung cancer treatment is rapidly evolving," Amato said. "We now know that lung cancer is not a single disease, but is represented by any unique genetic abnormalities capable of promoting growth and survival of cancer cells."

Apr 21, 2014 11:05 AM