Local development firm Forbes|Plunkett Group will break ground Nov. 1 on its 4th Avenue Townhomes project, a four-unit project at 1610 Fourth Ave. N. in Germantown. Two of the four units will be 1,711 square feet, the others 1,391 square feet each. All will have rooftop terraces and are expected to be on the market by next April.
"Germantown is one of the most desired urban areas in Nashville," said developer Brandon Plunkett. "The response to our other residential projects in the neighborhood has been encouraging and we're excited to continue to expand our footprint with the 4th Avenue Townhomes.”
The Forbes|Plunkett team has been involved in the development of 10 homes in Germantown neighborhood. The 4th Avenue Townhomes were designed by Nashville-based RobinetteDyer Architects and will be built by Cygnus Construction. Franklin Synergy Bank is providing financing and the Forbes|Plunkett team at Fridrich & Clark Realty will market the properties.
(Image by RobinetteDyer Architects)
SEE ALSO: Details of Forbes|Plunkett's Sylvan Heights' project
Buckingham Cos.' efforts to build a tall residential tower at a prime spot in The Gulch were met with opposition from residents of the nearby Terrazzo development. A number of those people have now hired noted local real estate attorney Tom White. But that, writes Adam Sichko at the Business Journal, doesn't mean a big fight is brewing. Said White to the NBJ:
"I feel very strongly that the best advice I can give is to see if we can get some common ground," White added. "We don't intend to roll over on every request Buckingham wants. But when someone can do something as a matter of right, you want to be very careful you don't come out and oppose something that might be a more creative and better solution."
Over at The Tennessean, Getahn Ward reports that global developer and property manager Lendlease is in talks to move its offices from Midtown's Palmer Plaza to the 1201 Demonbreun building rising in The Gulch. Lendlease officials are in the market for at least a floor of the building, where the typical floorplate will be 26,000 square feet.
And lastly, the North Carolina owners of Tupelo Honey Cafe have picked Oct. 19 to open their Cool Springs restaurant in Boyle's Meridian development adjacent to Interstate 65. Tupelo Honey is setting up shop in the almost-7,300-square-foot former Bosco's space and will be able to seat 172 people inside and another 50 on a patio. The kitchen will serve up scratch-made Southern food as well as soups, salads and sandwiches. Initially, its hours will be for dinner only, with lunch starting on Nov. 2. Check out more info here.
Two months after Metro officials ordered the redevelopers of a Sylvan Park building to stop work because they were not conforming to previously approved plans, the restaurant team led by Etch chef Deb Paquette is looking for another spot — and in another neighborhood — to bring to life its vision. Dana Kopp Franklin has many more details at our sister blog, Bites.
Below is a rendering of what Priam Ventures had hoped to bring to market at 46th and Utah avenues. Here's our previous coverage of the stalled project.
Memphis-based Hunter Fan Co. has leased almost 30,000 square feet of flex space near Nashville International Airport for a new division that will make large fans for commercial and industrial customers. The company plans to hire 25 people in the next year and grow its local workforce to 100 by the end of 2018. Adam Sichko at the Business Journal has more details here.
"As we grow, we'll need more R&D engineers and more industrial designers. We'll need creative people in sales and marketing. Those folks are pretty widely available here, as compared to Memphis," Bredeson added. "If you're churning through those folks every six or 12 months, that gets to be devastatingly expensive for the company."
The future of a prime SoBro site — one that has drawn minimal local media attention but upon which some public speculation is gradually gaining focus — seemingly remains in the planning stages.
K6 Ventures LLC owns the 0.62-acre site, which is located at the southeast corner of Sixth Avenue South and Korean Veterans Boulevard and sits across KVB from the Music City Center. The entity, which is affiliated with Nashville-based Platinum Companies, acquired the property (see here courtesy of Google Maps) in May 2012 for $3.075 million.
Platinum Companies officials declined to comment. However, sources with information about the site and who asked to go unnamed said the Platinum team is considering various options for the site, including a mixed-use building.
Previous plans have contemplated, with images, various projects for the site but are seemingly a few years old (one rendering of a building of about 30 stories circulated recently on a growth and development message board).
Still, visions that may not have materialized in the past could easily be realized in the near future as SoBro is fire hot. Specifically, the K6 Ventures property is located within 1.5 blocks of multiple sites braced for development.
To the east and south, no fewer than seven large sites and/or major projects are in play, including those by North Point (which is planning a building to accommodate three Marriott Brands), Pinnacle Hospitality Partners (a Holiday Inn), The Beach Co. (a mixed-use building), an investor group envisioning mixed-use LYDEN, Wilka Downtown LLC, Alpha Development and Cocke, Finkelstein Inc./Llewellyn Development (a residential building).
Like many other landholders in the immediate shadows of the convention center, Platinum Companies clearly is pondering its options. As focus on SoBro intensifies, those options could become many.
Sweet news from Matt Rogers at Eater Nashville: Locally owned startup bakery Five Daughters is adding a retail presence not just at its production center in The Factory at Franklin but also in 12South space that had housed the Corrieri's cheese shop. Look for openings later this fall.
Meek says that right now about 80 percent of their current demand is for doughnuts, including '100 Layer,' stuffed and 'paleo crushers.' But they also offer options such as kouign amaan (a crispy, caramelized croissant), cupcakes, custom cakes, biscuits, cinammon rolls and more, utilizing primarily local and organic ingredients.
The YMCA of Middle Tennessee has found a buyer for its property located on Metroplex Drive in South Nashville.
Jessica Fain, YMCA senior vice president of marketing and communications, confirmed the 2.78-acre site and the building on which it sits (see here courtesy of Google Maps) has a prospective buyer. She declined to disclose any other information.
Nashville-based Southeast Venture is representing the Y in the deal.
The Y closed the location (along with its North Clarksville YMCA) on May 15 and listed the property for sale at that point. The site has an address of 411 Metroplex Drive.
The YMCA of Middle Tennessee bought the property in October 1991 for $750,000, according to Metro documents.
UPDATE: The official number of jobs coming here is 380 and Lyft's investment will total $5.1 million. In a statement, Lyft COO Rex Tibbens said Nashville "is a city whose welcoming, creative culture and values mirror our own. Our history in Nashville coupled with our admiration for the community is why we’re so excited to make downtown Nashville the home of our newest Lyft office, and will be investing in our growth there for years to come."
As originally reported:
Ride-sharing service Lyft is preparing to relocate a customer service team of about 20 to Nashville from San Francisco, TechCrunch reported over the weekend. The move will help bring the company closer to its East Coast customers while cutting office space costs by more than half. It also looks to be the beginning of something big.
We’ve been told the plan is to grow the Nashville office and hire hundreds of new employees. It’s not clear if all 20 of those team members asked to go will do so. However, we’ve heard that at least one longtime senior member of the team will be making the move.
On Sunday, Gethan Ward at The Tennessean reported that Lyft officials have signed a lease at the Sash & Door Building (pictured below) at Second Avenue and Commerce Street and will grow their office there to 100 by year's end. From there, its Nashville team is forecast to grow to 400 in the coming years.
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