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.”
Nashville-area homeowners continued to improve their financial standing in June: The 90-day delinquency rate among mortgage borrowers ticked down to 2.35 percent, half a point below where it was at the end of 2014. Here's how the delinquency and foreclosure rates have fared so far this year. And here's CoreLogic's national report.
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