Charlotte-based Childress Klein Properties will use Element Music Row as the name of its 19-story mixed-use tower under construction at 1515 Demonbreun St. in Midtown.
The building — which will feature 431 apartment units, about 6,000 square feet of retail space and a 600-space garage — will front Musica on the Music Row Roundabout.
Fred Klein (pictured), CKP partner, said the marketing move involving the naming will be accompanied by a website that should go live in a few weeks.
“We plan to begin pre-leasing in summer 2015,” he said.
Klein said 1515 Demonbreun was a working name used in a general manner until an official name was given. Temporary signage with “Element Music Row” was installed at the worksite last week.
Element Music Row joins fellow Childress Klein buildings Element Uptown (located on the fringe of Charlotte’s central business district) and Element at Carolina Bay (located in Charleston, South Carolina). The development company is also working on Element South, to be located in Ballentyne near Charlotte.
Atlanta-based architect Rule Joy Trammell + Rubio, which designed Element Uptown, has designed the Music Row Roundabout tower.
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The Tennessee Housing Development Agency has selected the Franklin Housing Authority to receive $10.5 million in tax credits that will be the financial cornerstone of a 65-unit housing development near the Williamson County Library.
Construction is expected to start late this year and be completed about a year later. The single-family houses and townhomes will complement a senior housing building completed last year and are part of a large-scale plan to rejuvenate and grow the hundreds of housing units under the Franklin Housing Authority's umbrella.
UBS Securities analyst A.J. Rice says HCA's second-quarter profits won't look great at first blush — comparisons with year-ago numbers will be tough for a number of reasons — but adds that he's heartened by executives' positive tone earlier this quarter. Rice has lifted his price target for the stock of Nashville's largest company (Ticker: HCA) to $67 from $58 and is optimistic hospital operators will say they're benefiting nicely from health insurance reform. HCA shares fell almost 2 percent Tuesday to $54.52 but are up about 15 percent year to date.
There are far fewer reasons to be optimistic for Louisiana-Pacific investors these days, judging by the moves of analysts at Dundee Securities and RBC Capital Markets. At the first firm, Steve Atkinson on Tuesday launched coverage of the construction materials manufacturer with a 'sell' rating and $13 price target, which is 14 percent below where LP shares (Ticker: LPX) began trading yesterday. Atkinson's main reason is a price war that will hurt margins and has him projecting a Q2 loss that stands in sharp contrast to the consensus. At RBC, Paul Quinn has cut his rating to 'sector perform' from 'outperform' and sees LP shares climbing back to only $16 in the coming quarters.