Rehab on the way for Franklin Public Square landmark

First Tennessee to sell building but remain as tenant
Jul 23, 2015 3:13 PM

Groundbreaking looms for MetroCenter Fairfield Inn

Lebanon-based developer eyes late 2016 completion for hotel
Jul 23, 2015 2:30 PM

Possible Franklin Road upgrade takes next step

City of Berry Hill officials are hoping to finalize next week with the Tennessee Department of Transportation a document that will allow the implementation of a grant to fund a multi-modal transportation plan related to Franklin Road.

Joe Baker, Berry Hill city manager, said the Active Transportation Program federal grant for the study (valued at $155,000) was secured through the Metropolitan Planning Organization. TDOT will be involved with the project given the specific segment of Franklin Road running through Berry Hill is a state highway (Highway 31).

The goal is to offer multi-modal improvements to the segment of the road —  spanning Wedgewood Avenue on the north to Berry Road on the south — including sidewalks and pedestrian crossings, among others, Baker (pictured) said. The street lacks sidewalks and curbs within many stretches south of Bradford Avenue. As such, and with the recent addition of apartment building 23Hundred at Berry Hill, beer-centric retailer Craft Brewed, M.L. Rose Craft Beer and Burgers and mixed-use The Melrose (anchored by Sinema), it is not accommodating to walkers or cyclists who want to access its offerings in some manner other than by vehicle. (See a portion of the road here courtesy of Google Maps.)

“We’re trying to complete the study within the next 12 months,” Baker said. “We also want to look at where bike and possible future [mass] transit options can be made. Future options to be looked at include acquiring additional right-of-way.”

In addition to TDOT, Baker said Berry Hill will work with the Metro Public Works Department, the Metro Planning Department and area residents, property owners and business owners.

“We recognize this stretch of Franklin Road needs upgrades,” Baker said. “Finalizing the contract with TDOT is the next step in the process.”  
 

Jul 23, 2015 1:02 PM

Nashville housing growing stronger still, says Freddie Mac

The Middle Tennessee housing market continues to grow healthier, according to the Freddie Mac Multi-Indicator Market Index, which tracks transaction data as well as residents' incomes, mortgage applications and overall job growth. The measure ended May up more than 8 percent year over year, its fastest growth pace since last August and almost three points higher than in March. Nashville's MiMi reading is at its highest since January 2008.

Breaking down the latest MiMi reading — you can check it out here — the recent surge is mainly due to a big improvement in Nashville's job market. Mortgage applications and credit quality have been in good shape for a while, which leaves the index's payment-to-income ratio component as the only laggard. But it, too, is improving and has climbed four points to almost 73 in the past three months.

 

Jul 23, 2015 9:38 AM

ER update continues at Centennial Medical Center

TriStar Centennial Medical Center has secured a permit to rehab emergency room space, according to a Metro Codes Department document.

Nashville-based Batten & Shaw is handling the work, with the permit valued at $1.3 million. The permit follows a similar project, valued at more than $4 million, for work on the ER facility at the HCA Holdings flagship facility. Batten & Shaw handled that effort, too.

See the hospital, located at 2400 Patterson St., here courtesy of Google Maps.

Jul 23, 2015 6:45 AM

Utah investor buys Thompson Lane apartment complex

Peak Capital Partners now owns five Nashville-area properties
Jul 22, 2015 2:20 PM

Midtown tower developer pays $2.4M for J&J's Market site

Afrakteh plans 25-story high-rise to include Noshville parcel
Jul 22, 2015 2:13 PM

Alexander expects courthouse fund approval

Sen. Lamar Alexander says he expects the Senate Appropriations committee to approve funds for a new federal courthouse in Nashville:

"This is extremely good news for Nashville because, in a rare move, the bill will include funding in one fiscal year for what is intended to be the full amount of funding to build the new courthouse, instead of spreading the funding out over several years," said Alexander, a senior member of the committee.

"This means the courthouse project, which is desperately needed, will finally be completed."

Jul 22, 2015 1:53 PM

North Nashville site sells to entity with development tie

Clifton Avenue property located near area seeing infill activity
Jul 22, 2015 1:21 PM

LifeWay lands $4.9M in incentives

The Metro Development and Housing Agency board has approved up to $11 million in public incentives for various planned projects, including $4.9 million for a LifeWay Christian Resources headquarters buildings set for Rolling Mill Hill and on Metro land.

In addition to the LifeWay project, and as The Tennessean reports, the money will go toward the development of a boutique hotel planned for Printers Alley and a retail space on Jefferson Street. The board approved the incentives Tuesday.

LifeWay is expected to pay Metro $12.7 million for the site, which is located at the northeast corner of the intersection of Korean Veterans Boulevard and First Avenue South.

Read more here.

Jul 22, 2015 8:48 AM