Giarratana Nashville LLC has tapped Chicago-based Archer Western Contractors to serve as general contractor residential skyscraper 505, for which the developer is targeting a mid-November groundbreaking, according to a release.
Archer Western is affiliated with Chicago-based construction firm The Walsh Group Ltd. Engineering News-Record ranked the entity No. 13 for the nation’s contractors based on revenues.
“The Walsh Group has built many of the most admired high-rise condominium and apartment towers in Chicago,” Tony Giarratana said in the release. “We are pleased to have Archer Western Construction join our team as general contractor for 505.”
The top one-third of 505’s 550 residential units have been designed to be potentially sold as condos, with the rest being marketed as apartments.
To be located at the southwest corner of of the intersection of Fifth Avenue and Church Street, 505 is being developed through a public/private
partnership with the Metropolitan Development and Housing Agency.
Chicago-based Solomon Cordwell Buenz is designing 505 will feature 45 floors and is expected to be completed in late 2017. Preliminary site work is nearly complete.
Ramsey eyes Williamson property for campus
Brentwood-based Ramsey Solutions, the company of financial advice guru Dave Ramsey, has under contract some Williamson County property on which it plans a 47-acre campus, Nashville Business Journal reports.
The campus is expected to accommodate upwards of 180 employees the company plans to hire during the next year. Ramsey Solutions currently operates in the Cool Springs area.
Read more here.
Ex-muffler shop to soon serve tacos
Chef Jonathan Waxman (he of Adele's fame) and various business partners plan a Bajo Sexto Taco Lounge to operate from the Charlotte Avenue space once home to Batey Muffer Center, The Tennessean reports.
The building is located at 5303 Charlotte Ave.
A Bajo Sexto opened at the Country Music Hall of Fame and Museum earlier this year.
Read more here.
Almots 12,800 Nashville-area homes with a mortgage were in negative equity at the end of June, meaning they were worth less than the debt still owed to the lender. That amounted to 3.6 percent of all mortgaged properties, which was down more than half a point from the end of March and 1.2 points below the year-prior number. The number of properties near negative-equity levels was 1.1 percent on June 30, versus 1.4 percent at the end of the first quarter and 2.0 percent in mid-2014.
Nashville-based Giarratana Nashville LLC is targeting a mid-November groundbreaking for its 505 — a 543-foot tall skyscraper expected to dramatically alter the city’s skyline.
Tony Giarratana told the Post Tuesday afternoon that site preparation — including rock excavation, elevator and sump pits, and a crane pad — is nearly complete at the Church Street construction site (at which the Metro Development and Housing Agency is undertaking a combination retail and parking garage structure that will sit adjacent to 505). He added that the timetable for full-scale construction to start is on track.
To carry a price tag of approximately $155 million, 505 will offer 550 apartments. One-third of the units, spanning the building's top 16 floors, eventually might be sold as condos.
Giarratana is teaming with Chicago-based real estate company Jones Lang LaSalle on the project.
Read more here.
Hey look! Nashville's mayoral candidates agree on a big issue, that of supplying the city with more affordable housing. In conversations with WPLN's Tony Gonzalez, both Megan Barry and David Fox say they will look for ways to have the city consistently fund The Barnes Fund for Affordable Housing, seen by many as the best vehicle to grow Nashville's affordable housing inventory. Case in point: The replacement of the River Village apartments in North Nashville with the $3.2 million, 23-unit complex pictured here.
How the program compares to other cities was on Barry’s mind when asked what she thought of the $65 million target.
“I think that a lot of this is: What are our peer cities doing? And how do we best do what’s best for Nashville? I think that number is not unreasonable.”
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