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.
Bellevue-based garden apartment complex The Lexington Apartments has sold for $93.5 million.
According to Nashville Business Journal, Passco Companies of Irvine, California, was the buyer. CND Lexington Gardens was the seller.
The Lexington offers about 600 units in 28 buildings. It is located at 510 Old Hickory Blvd.
Vincent Lefler, senior vice president with Jones Lang LaSalle, brokered the sale, NBJ reports.
There has been some confusion regarding the eventual height of SoBro, the luxury apartment building under construction at the southeast corner of the intersection of Demonbreun Street and Second Avenue.
An article in JLL’s The Investor noted SoBro could push nearly 400 feet. Relatedly, some local manmade environment enthusiasts (including this writer) have speculated the 33-story high-rise would stand at least 360 feet.
However, Giarratana Development officials told the Post on Wednesday that SoBro will top out at 341 feet. If standing today, the skyscraper would be Nashville’s 12th-tallest building, ranking behind the 354-foot-tall UBS Tower and ahead of the 300-foot-tall Sheraton Nashville Downtown.
WMG Realty Holding Co. is the project developer and comprises Wanxiang America Real Estate Group, Magellan Development and the aforementioned Giarratana Development.
Click here to read the JLL article, which offers an interesting look at banks providing loans for skyscraper construction.
(Image courtesy of WMG: This perspective shows SoBro as positioned at the corner of Third and Demonbreun. The little cream building seen here on the corner no longer stands and is being replaced by a six-story brick building to be home to The Diner)
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