Veteran developer opposes proposed Waverly-Belmont overlay

Historical Commission, councilman counter Hostettler concerns regarding zoning plan
Nov 13, 2015 7:00 AM

Real estate notes: Church could land mixed-use building

Here is an interesting tidbit.

Nashville-based engineering firm Littlejohn recently surveyed properties located within the 1900 block of Church Street in Midtown.

According to a source who asked to go unnamed, a developer (believed to be Texas based) is hoping to buy various parcels on the south side of Church, demolish the buildings on them and construct a mixed-use building.

Littlejohn officials could not be reached for comment. See the site here courtesy of Google Maps.

Atlanta developer eyes Germantown project

Atlanta-based TriBridge Residential has a contract to buy a 3.8-acre site that is part of the Neuhoff complex in Germantown, Nashville Business Journal reports.

The developer is eyeing a 250-unit residential building and hopes to reinvent an existing 20,000-square-foot building with commercial space targeting Atlanta restaurants.

Read more here.

Gulch Crossing lands Canadian company

Toronto-based Canaccord Genuity has signed a lease for space at MarketStreet Enterprises’ mixed-use Gulch Crossing, according to The Tennessean.

With the signing, the Gulch-based building is 90 percent leased.

Charlotte Avenue project renamed

Atlanta-based developer The Worthing Companies and Simpson Housing of Denver have renamed their under-construction apartment project 2700 Charlotte. The building had been called The Heights at Charlotte.

Relatedly, Simpson Property Group (a sister company to Simpson Housing) is handling marketing and leasing. The 2700 Charlotte website features an image Worthing had not previously released (see below).

Read more about the project here.

(Image courtesy of Worthing, Simpson and Rule Joy Trammell Rubio)

Nov 13, 2015 6:45 AM

Report: Convention site developers land investor equity, eye acquisition extension

The development team seeking to undertake the $400 million mixed-used Fifth + Broadway at the Nashville Convention Center site has landed all the investor funding it needs, Nashville Business Journal reports.

The developers (Nashville-based Spectrum | Emery and OliverMcMillan of San Diego declined to disclose to NBJ reporter Adam Sichko the identity of the investor group providing what is believed to be about $200 million in equity. However, it said the investor group does not include JP Morgan — which has been a longtime backer of both companies.

NBJ also reports the developer team will ask for two extensions related to the closing date with Metro (which owns the property). If the closing happens by June’s end as now planned, the earliest the project would be completed is 2019, according to NBJ.

The latest designs, released earlier this week, show a 32-story office tower that, if standing today, would rank among Nashville’s 10 tallest buildings. The project also is expected to include a 350-unit apartment tower of upwards of 30; a 1,200-space parking garage; and approximately 200,000 square feet of retail, restaurant and entertainment space, including a home for the long-anticipated National Museum of African American Music.

Read the NBJ article here and more about the project here.


(Image courtesy of Spectrum | Emery, Oliver McMillan and Gensler)

Nov 12, 2015 1:20 PM

MCC generates about $150M through fiscal year

Music City Center officials announced today that the convention building has hosted more than 100 events generating an estimated $148.5 million in economic impact through the current fiscal year.

According to a release, in October the MCC hosted 31 events with 46,381 attendees, generating 36,036 room nights and an estimated $37.9 million in economic impact.

Fiscal year to date (starting July 1), the building has hosted 102 events with 233,695 attendees, generating an estimated $148.5 million in economic impact.

Tax collections continue to outperform expectations, MCC officials said, with the Music City Center portion of tax collections up 4.99 percent year over year for August.

“Between Academy of Nutrition and Dietetics, Juice Plus and Society of Women Engineers, not to mention a number of other midsize events, we were incredibly busy in October, Charles Starks, MCC president/CEO, said in the release. “This year the events have really been back to back with almost no down time, which is a testament to Nashville’s strength as a convention destination.”

Nov 12, 2015 12:08 PM

Barnes grants to spur building of nearly 60 affordable housing units

The Barnes Housing Trust Fund has awarded $2 million to help Woodbine Community Development Organization as well as three other organizations add to the city's stock of affordable housing units. The money will help with the creation of 57 units, some of them slated to be sold below market rate.

Only three other agencies are slated to get money, out of 11 who applied, pending a final vote by the board of the Barnes Fund. That’s the most competitive process the city has seen so far. Other approved recipients are New Level Community Development Corporation (5 units), Habitat For Humanity (8 units), and Affordable Housing Resources (2 units).

Nov 12, 2015 7:35 AM

CityLights condo units to start in $400,000s

Price point to set mark for multi-story large-scale residential building
Nov 12, 2015 7:00 AM

Eakin Partners seeks rezoning to accommodate West End corridor mid-rise

Nashville-based Eakin Partners will go before the Metro Planning Commission today to seek a rezoning to accommodate its propsed 12-story mixed-use mid-rise called 30th & Vanderbilt Place.

The West End corridor parcels — Located at the northwest corner of 30th Avenue South and Vanderbilt Place about one block south of West End Avenue — span about .92 acres and currently are zoned office/residential intensive. Eakin is seeking specific plan zoning to allow greater design flexibility than is currently allowed.

The company has enlisted Nashville-based Hastings Architecture Associates to handle design work.

Read more here.



Nov 12, 2015 6:45 AM

Completion date slated for Salemtown Cottages

The developer of Salemtown Cottages is targeting an end-of-January completion date for the residential project, with 16 of the 24 finished homes now sold.

Michael Kenner, president of MiKeN Development, said five of the final eight under-construction homes are also under contract.

Kenner (pictured) said the project, located on the northern fringe of North Nashville’s Salemtown at the northwest corner of the intersection of Seventh and Buchanan Street (see the site here courtesy of Google Maps) will be noteworthy in that the homes will offer Nest learning thermostats, which are self-regulating and can be controlled remotely. Kenner said he believes this will be the first Nashville development of its type with homes fully controlled by Nest learning thermostats.



Nov 11, 2015 2:25 PM

Lee Co. lands incentives for Berry Farms HQ

The plans by Lee Co. executives to move their headquarters from Cool Springs to Boyle's Berry Farms development a few miles farther south got a boost Tuesday night, when Franklin officials approved a payment-in-lieu-of-taxes plan for the company. The mechanical contractor plans to relocate to Berry Farms in 2017 and will add almost 70 jobs, growing its total HQ payroll past 500. Williamson County officials also have approved a tax incentive package.

Nov 11, 2015 1:39 PM

Stites adds three to real estate/banking group

Sports Authority board member among those making move
Nov 11, 2015 1:11 PM