Vista Germantown apartment building sells for $53.25M

Canadian entity acquires 242-unit structure for $220K per unit
Apr 3, 2014 2:32 PM

Ex-theater building in Germantown to accomodate restaurants

Germantown Market LLC has bought the Germantown building from which John O. Hill Co. operates for $1.4 million, according to The Tennessean.

The new owner wants to reinvent the historic building — which spans 10,820 feet and once housed The Peafowl theatre — with multiple restaurants, the morning daily reports.

The 0.58-acre property had been listed for sale for $1.5 million via loopnet.com.

Brian Taylor, a broker with Karr Commercial in Nashville, represented Germantown Market, while Cassidy Turley Senior Managing Director and Principal Ronnie Wenzler represented seller the Hill family.

Read more about the building here.

Apr 3, 2014 6:45 AM

Germantown project to feature 30-foot-tall metal piece

Atlanta-based SWH Residential Partners has selected an art piece for its The Flats at Taylor Place apartment development under construction in Germantown.

John Tirrill, SWH managing partner, said the company tapped metalsmith John Medwedeff to create the contemporary steel piece, which will rise about 30 feet. Medwedeff is a Murphysboro, Ill.-based artist who was born and raised in Nashville.

“We hope to have the piece installed in September,” Tirrill said.

Medwedeff’s creation will be placed in front of the building’s façade, which spans Fifth Avenue North between Van Buren Street on the south and Hume Street on the north. The Flats at Taylor Place is slated for completion in December. (Read more here.)

 

Mar 28, 2014 2:11 PM

Developer to request rezoning of Germantown site slated for apartment building

Charlotte-based Proffitt Dixon eyes early 2015 project start
Mar 28, 2014 7:00 AM

Creative agency Mountain opens Germantown office

Mountain has officially launched with the opening of an office in mixed-use building The Square at Fourth and Madison in Germantown. The creative agency's clients include, among others, Live On The Green. Of note, Tennessee Titan offensive lineman Michael Roos and wife Kat led the development of The Square at Fourth and Madison. Read more here at musicrow.com.

 

 

Mar 26, 2014 1:49 PM

Boutique residential developer eyes commercial project in Germantown

Creason has Fifth and Monroe site under contract
Mar 21, 2014 7:00 AM

Boutique developer to undertake first project in Buena Vista


Jim Creason — the North Nashville-based developer who has made his mark with tasteful residential infill projects in Germantown and Salemtown — will soon embark on his first Buena Vista project.

In addition to this being Creason’s initial foray into the historic residential district (which sits on the west side of Rosa Parks Boulevard across from Germantown and Salemtown), the boutique developer will price the two homes in the mid- to upper-$300,000 range, likely a first for Buena Vista. 

The two brownstones will be located at 1038 Scovel St., with Creason to undertake the effort via his Trust Development. The developer is hoping to break ground by end of the month.

“Of all the property I’ve bought, it has the most intriguing skyline view,” said Creason (pictured), who has owned the site since 2005.

“Even though it’s a small project, I’m excited because it’s an indication that I feel good about the balance of the North Capitol District to become fully vibrant,” he added.

Creason still go before the Metro Development and Housing Agency on Thursday, March 18, to ask for approval from the MDHA Design Review Committee.

For the effort, Creason is using Michael G. McClellan (vice president of Bancorp South) for financing, Karen Roach and Jeremy Pickens (Avenue Real Estate) for sales and marketing, Preston Quirk (Quirk Designs) for architecture, Bronson Lankford (Lankford Decorating & Construction, Inc.) as general contractor and Derek Lisle (Place Development Company) as project manager.

Creason said the two homes will look like those found at his Fifth & Garfield project, which was recently completed in Salemtown. Trust’s four-home The Clayton is also located in Germantown.

Trust Development currently is undertaking Luxus Germantown and hopes to break ground in mid-year on Gramercy (read more here), also to be located in Germantown.

The North Capitol District moniker is sometimes used to described the area that comprises Nashville’s near north neighborhoods, which include the aforementioned Buena Vista, Germantown and Salemtown, as well as Hope Gardens and Sulphur Dell (also called the Market District).
 

Mar 17, 2014 1:45 PM

Reinvented Germantown building lands restaurant, to open May 1

Priam Ventures LLC will open its not-yet-named Germantown commercial building on May 1 and has signed a lease with a restaurant operator for final space in the adaptively reused building.

Brian C. Adams, Priam Ventures principal, declined to disclose the name of the restaurant or its ownership entity. He said the restaurant will offer a “casual neighborhood feel.”

The building, located at the southwest corner of the intersection of Taylor Street and Sixth Avenue North and last home to Centurion Stone, has been gutted and is being given a design overhaul. Adams said Priam is considering a name that pays tribute to Centurion and/or Germantown.

In addition to the restaurant, the other tenants will be The Skillery, a coworking space; Steadfast Coffee; and Pro Vita, a fitness facility.

“We’re going for an adaptive reuse and urban infill approach,” Adams said, adding the building will offer its tenants and their customers a “one-stop shop” for fitness, creativity and eating/drinking.

Pfeffer Torode Architecture has undertaken the design, with Anne Daigh Landscape Architecture handling outdoor work. Both are based in Nashville.

Priam Ventures paid $1.3 million for the property.

 

 

Feb 24, 2014 12:29 PM

Germantown slated for European-influenced residential project

Local developer targets summer groundbreaking for Gramercy
Feb 13, 2014 1:30 PM

Charlotte developer discusses planned Germantown project

Charlotte-based Proffitt Dixon Partners has about 2.4 acres of Germantown property under contract and is eyeing a 220-unit apartment building.

The site, which fronts Third Avenue North between Taylor and Van Buren streets, currently is home to roofing and sheet metal company RD Herbert & Sons Co., which announced this week it is looking to move. Of note, the site is adjacent to the parcel on which Butchertown Hall restaurant and beer garden will be developed.

Post Managing Editor William Williams recently chatted with Stuart Proffitt, PDP managing principal, about the planned project.

WW: The property you want to develop still must be rezoned. What can you say about the process?

SP: We are working with an entirely local team that has been very impressive. Shawn Henry at Tune, Entrekin & White, PC, Hunter Gee and Scott Morton at Smith Gee Studio (the architect), and Kevin Gangaware at Civil Site Design Group are all very talented and certainly have a clear understanding of the process. And Chad Grout of Urban Grout introduced us to the site.
 
WW: If all goes well, when would ground break and what would be the timetable?

SP: We expect to break ground by the first quarter of 2015 and deliver the first units within 18 months after that.

WW: What type exterior design do you expect?

SP: We are currently working through this aspect of the project.

WW: Why Smith Gee Studio?

SP: Several factors.

1. Knowledge of the submarket. Smith Gee is the architect on SWH’s The Flats at Taylor Place apartment project at Werthan Mills and others in the vicinity.

2. Knowledge of the product type. They have drawn many apartment projects and it became clear through interviews with prior contractors and owners that they are strong on the drawings and construction administration. 

3. Design capability. We are impressed with the design of their prior projects. 

4. Good people. If the above boxes are checked, then it’s about the people. We want to build a team in Nashville that will work together over the long term, and we want to do that with people we enjoy working with. Hunter Gee and Scott Morton are great guys with an energizing entrepreneurial spirit.

WW: Why Nashville and why, more specifically, Germantown?

SP: The actual employment growth alone is enough for us to pursue Nashville. Add to that the attractiveness of Nashville to the creative class and those that are attracted to the creative class and the progressive public investment in demand drivers and citizen quality of life. We are confident that Nashville will outperform over the medium to long term. 

Germantown is a high-quality, authentic, walkable neighborhood. Our site is accessible to Morgan Park and the Cumberland River Greenway, adjacent to the new Butchertown Hall restaurant under development by Terry Raley and Woodland Street Partners and easily walkable to several of the city’s best restaurants.  A historic neighborhood with those amenities so close to the city’s largest employment nodes is a place we are bullish to invest.

WW: There are no fewer than five Charlotte-based development companies either undertaking development in Nashville or planning to do so. Why are Charlotte developers so high on this city?

SP: Nashville is similar demographically to Charlotte. So I suspect we come for the reasons outlined above and get comfortable with Nashville pretty quickly. 

Feb 13, 2014 1:15 PM