Amphitheater aims for LEED gold certification

Nashville’s soon-to-open Ascend Amphitheater is on track to receive LEED gold certification, according to a release.

The designation recognizes environmentally friendly construction and is awarded by the U.S. Green Building Council. Gold certification is the second highest rating in the LEED rating system (after platinum).

Final touches are being made to the highly-touted amphitheater, which will open with back-to-back acoustic shows on July 30 and 31. The venue seats 6,800 people and will be the summer home of the Nashville Symphony starting in 2016.

The overall Riverfront Park expansion, in which the amphitheater sits, is slated for a community grand opening on Sunday, Aug. 2.

Highlights of the amphitheater and that will be factored in the LEED effort include a 2,800-square-foot green roof, a 400,000-gallon rain-harvesting tank, 1,350 square feet of rooftop solar panels, 267 trees representing more than 38 different species, 48 bike parking spaces and a bike repair station, and 2,895 tons of crushed rock used onsite.

Read more and see photos here at Post sister publication Nashville Scene.

 

(Photo by Eric England)


 

Jul 15, 2015 2:14 PM

Kinloch to invest $5M in Nashville-area homes by year's end

Atlanta-based Kinloch Partners has announced plans to invest $5 million in single-family homes in Nashville during the remainder of 2015.

Today’s announcement comes one day after investment firm Blackstone Group announced that it is selling 1,300 houses in the Atlanta region. Kinloch Partners, which has been active in Nashville, Atlanta and Florida for more than 10 years, also intends to invest $10 million in the Atlanta region by year's end, according to a release.

"Blackstone's announcement yesterday is good news for individual home buyers," Bruce McNeilage, a Nashville-based Kinloch Partners co-founder, said in the release. "There is often a herd mentality among institutional real estate investors, so we anticipate other large institutional investors will dump their Atlanta portfolios and possibly their portfolios in other Southeastern markets. But Kinloch Partners remain bullish on the Atlanta and Nashville markets. We are in for the long haul."

McNeilage (pictured) owns 250 pad-ready residential lots in the Greater Atlanta region and has another 217 under contract in Nashville and Atlanta. In February, he and business partners James Grason and Daniel Lambert sold 42 Nashville-area homes to American Homes 4 Rent for $9.6 million. Currently, through real estate partnership Harpeth LLC, McNeilage is involved in the development and sale of Solo East, a 130-unit condo development in Nashville (read more here).

Nashville Business Journal reports that McNeilage is highly active in repositioning capital to accommodate for his bullish spends. He currently has the 22-unit Jefferson Manor apartments in North Nashville under contract for $925,000.

Jul 15, 2015 1:57 PM

Real Estate Notes: Antioch apartments move for $13.5M

Also: Investors buy two Music Row lots
Jul 15, 2015 1:01 PM

LifeWay to pay $12.7M for Rolling Mill Hill headquarters site

LifeWay Christian Resources is slated to pay $12.7 million for the Rolling Mill Hill land for its new corporate headquarters, Nashville Business Journal reports.

Relatedly, the Metro Development and Housing Agency (which will sell the land to LifeWay) is expected to approve up to $4.9 million in incentives to LifeWay, according to NBJ. (Read more here.)

The news follows reports that LifeWay and has tapped Bell & Associates Construction to manage construction and Gresham Smith and Partners to serve as the architect.

Plans to buy from the Metro Development and Housing Agency a little more than 1.5 acres at 400 First Ave. S. have been in the works for the past two months, the morning daily reports. However, the sale of the property is now on the fast-track, with pending approval by the Metro Development and Housing Agency’s board next Tuesday.

The site sits immediately west of the Metro Nashville District Energy System building (see image here courtesy of Google Maps).

According to Davidson County property records, the appraised value of the site is $4.8 million.

The LifeWay building is expected to rise 11 stories. Construction is anticipated to begin by year's end with a completion eyed for late 2017.

 

Jul 15, 2015 12:20 PM

Second tower crane erected at Division Street project site

A second tower crane is now being erected at the Crescent Music Row construction site on Division Street.

Charlotte-based developer Crescent Communities has enlisted Balfour Beatty as the general contractor for the project.

Crescent Music Row (read more here) will rise six floors and include 275 luxury apartment units and about 8,000 square feet of ground-level retail space. The straddles the points at which The Gulch, Music Row and Midtown meld.

Of note, the first tower crane was erected in late June.

Jul 15, 2015 9:45 AM

East Nashville slated for hipster BnB

Brooklyn-based Urban Cowboy is targeting a historic home near East Nashville’s quirky Five Points district for a cosmopolitan bed and breakfast spot, Nashville Business Journal reports.

Lyon Porter (pictured), who owns the hipster BnB concept business, bought the massive Queen Anne Victorian building located at 1603 Woodland Ave. (see the building here courtesy of Google Maps) for $915,000 last March. He has not announced an opening date, according to NBJ.

For perspective regarding how East Nashville property values have changed, Belinda Leslie and Bennett Keister acquired the home and the .38 acres on which is sits for $230,000 in February 2000. 

A one-night stay in Urban Cowboy, which operates from a building in the hyper-cool Williamsburg district in Brooklyn, ranges from $150 (for the modest one-bed Dream Catcher room) to $2,000 for The Full Cowboy (a four-bedroom standalone cabin).

Read more here at NBJ.

Jul 15, 2015 9:30 AM

Permit issued for boutique hotel in Gulch

Nashville-based MarketStreet Enterprises has landed a permit for its Thompson Nashville hotel building under construction in The Gulch, according to a Metro Codes Department document.

The 12-story 224-room boutique hotel will have an address of 401 11th Ave. S. MarketStreet is teaming with Commune Hotels & Resorts, AJ Capital Partners and The Berger Company on the development.

JE Dunn Construction is handling the work, with the permit valued at about $25 million.

Nashville-based Hastings Architecture Associates is designing the building, which also will feature retail space and is slated for a late 2016 completion.

Read more here.
 

Jul 15, 2015 7:10 AM

Local entrepreneur acquires South Nashville church site for $1.4M

Adoption Hope Foundation seeks nonprofit status
Jul 15, 2015 7:00 AM

Plans for Tennessee State Museum move forward

Although still a bit short on specifics, plans for a $160 million Tennessee State Museum are moving along, The Tennessean reports. Gov. Bill Haslam will appoint a steering committee and the cabinet will work with a fundraising firm to raise $40 million of the needed funds. Another $120 million will be provided by public funds. The museum will be move from its current location at 505 Deaderick St. to a future building to be located in the Bicentennial Mall near First Tennessee Park.

Jul 14, 2015 2:15 PM

August start targeted for East Nashville project

LIV Development LLC is targeting an August starts on its 291-unit apartment building slated for East Nashville, The Tennessean reports.

The Birmingham-based company last week acquired the 4.66-acre site — at 1034 W. Eastland Ave. and on which the building formerly home to Nashville Rehabilitation Hospital will be razed — for $5.9 million, according to the morning daily.

Nashville-based Smith Gee Studio is handling design chores, with LIV having released an image. Hoar Construction will serve as general contractor.

Sophia's Heart was the seller, with the nonprofit having most recently worked from the building on the site.

 

(Image courtesy of LIV and SGStudio)


 

Jul 14, 2015 11:04 AM