Developer pays $6.6M for SoBro parcels eyed for apartment building

Acquisition follows recent $2.4M purchase of adjacent property
Nov 10, 2015 5:37 PM

Mattress maker to create 350 jobs in La Vergne

Chinese company to renovate ex-Whirlpool plant
Nov 10, 2015 2:44 PM

Stix completion date extended as contractor added

Nashville-based Long Foundation Drilling Co. has been enlisted to supplement efforts related to the installation of downtown public art piece Stix, the completion date for which has been extended to year’s end.

Originally, the installation was to have been finished by Oct. 31. However, the drilling process has been more complicated than originally anticipated, according to Jennifer Cole, Metro Arts Commission executive director. 

Nashville-based Rains Electric Co. is serving as contractor and hired Long, Cole said.

Sitx will anchor the Korean Veterans Boulevard roundabout adjacent to the southwest corner of the Music City Center.

Metro Arts selected UCLA art professor and Silver Lake, California-based Christian Moeller to create the piece, which carries a cost of $750,000 for site work, installation and creation.

To eventually consist of 27 70-foot-tall native hardwood poles (eight currently are standing on the site), the Stix pieces will be painted red orange, light blue, dark blue, light green and egg white, paying homage to the Native Americans who originally populated Middle Tennessee.

Nov 10, 2015 2:15 PM

Panattoni pays $1.9M for land eyed for industrial park

Panattoni Development Co. has acquired for $1.93 million a  44-acre tract on Brick Church Pike and on which it plans Skyline Distribution Park.

Relatedly, Panattoni has appointed JLL as exclusive leasing agent of the proposed Class A industrial park, which will consist of three buildings spanning a collective 600,000 square feet, according to a release. The buildings will be able to accommodate users ranging in size from 20,000 square feet to 375,000 square feet.

Construction of Skyline Distribution Park will start this month with an expected completion date in the third quarter of 2016. 

The JLL team handling the assignment includes Bo Fulk, vice president, and Jimmy Armistead, associate broker. The team will work closely with Jeff Konieczny, development manager of Panattoni. 

“With greater than 30,000 people moving to Nashville annually, the need for more quality warehouse space close to the city center continues to grow accordingly,” Bo Fulk, vice president of JLL Nashville, said in the release. “Simply put, demand is outpacing supply. Skyline Distribution Park will be perfectly positioned to service Nashville and the region as a whole. Visible from I-24 and I-65, tenants of Skyline will have direct access to downtown Nashville, I-24, I-65 and I-40 via Briley Parkway.”

Nov 10, 2015 12:17 PM

Convention site mixed-use project to be called Fifth + Broadway

Development team releases new images, taps Dossett to oversee effort
Nov 10, 2015 9:42 AM

Midtown site slated for city's first Urban Cookhouse

February opening eyed for S.C.-based fast casual restaurant
Nov 10, 2015 7:00 AM

SouthStar sells final Ovation land piece for $15.1M

Franklin-based SouthStar LLC has sold for $15.1 million the last remaining 22 acres at Ovation in Cool Springs to Thomas Enterprises Inc. of Atlanta, Nashville Business Journal reports.

Read more here.

Nov 10, 2015 7:00 AM

Q&A: Crescendo developer Travis Kelty

Last week, a Nashville-based development entity led by Travis Kelty acquired for $5.26 million the 1.8-acre Division Street site on which it plans a mixed-use high-rise.

Kelty and his team are eyeing the $75 million 23-story Crescendo for the site, which includes the building home to Myers Flooring. The partnership created Highpoint Division Partners for the acquisition of the property, which straddles the edges of both The Gulch and SoBro.

Crescendo would include 303 apartment units with ground-level retail shops and restaurant space and an attached 600-space parking garage. The building is projected to be 350,000 square feet.

Post Managing Editor William Williams caught up with Kelty to get a quick update.

What is the next step?

We need to finalize the design plan and determine if we’re going to have the building be 23 stories. If so, we will need a specific plan zoning.

Are all the players (including the Nashville office of Gresham Smith & Partners) previously reported still involved?


On that theme, why did you choose Atlanta-based architect KPS?

They were referred to us by our general contractor (Roy Anderson Co. of Gulfport, Mississippi, an affiliate of Tutor Perini Company)

How is the effort going to finance the project?

The first step is to secure the project equity and a development partner. Arranging the debt [via a lender] will follow.

Are you considering condos?

We are designing the units as high-end rental apartments with condo amenities.

If all went well, when might you break ground?

We will need at least six months to do the construction plans. Then Myers will need to vacate the building so that we can demolish it. It could easily be eight months before a groundbreaking.

On that theme, work is now underway on the Division Street Extension. Your thoughts?

Our timing seems to be right with the commencement of construction on the new bridge that will connect SoBro with The Gulch. This bridge will provide great connectivity between the two neighborhoods. We have to give [former Mayor Karl Dean] credit for his forward thinking and vision for this area. The bridge will be a catalyst for the redevelopment of the southern part of SoBro and the southeastern quadrant of The Gulch. I believe that this area will transform in short order into a vibrant neighborhood for Nashvillians to live, work and play. I am confident that Mayor [Megan] Barry will carry this vision forward.


Nov 10, 2015 6:45 AM

Local investor buys Gulch property for $4.1M

Reynolds acquires 1-acre site in 'land play'
Nov 9, 2015 2:45 PM
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MDHA lands $6.5M permit for apartment building

The Metro Development and Housing Agency has landed a permit related to is Cayce Place Apartments now underway in the agency’s James A. Cayce Place property in East Nashville.

R.G. Anderson is handling the general contractor role, with the permit valued at about $6.5 million.

The building will rise four floors and offer 70 apartment units. It will be located at the southeast corner of the intersection of South Fifth Street and Summer Place. The $11 million building is expected to open in 2017.


(Image courtesy of MDHA)

Nov 9, 2015 12:50 PM