Jump to content

The Medical Mart | CANCELED | What's to go in the old NCC space now?


satalac

Recommended Posts


  • Replies 214
  • Created
  • Last Reply

House of Blues here in Dallas brings a good variety of shows in, and I've always had a blast there. It would be nice if it could somehow activate the facade of the old CC on Broadway. At some level, however, I dislike having chains like Margaritaville and House of Blues on Lower Broad, and potentially crowding out local institutions like Tootsies and Legends.

Link to comment
Share on other sites

Perhaps I'm being unreasonable, but like others, I'd much prefer to see the Med Mart rise and the House of Blues take up some empty lot or building on Second Ave...but it's great that they're finally looking into locating in The Music City!

Link to comment
Share on other sites

Perhaps I'm being unreasonable, but like others, I'd much prefer to see the Med Mart rise and the House of Blues take up some empty lot or building on Second Ave...but it's great that they're finally looking into locating in The Music City!

No kidding! It is the MUSIC CITY!

Link to comment
Share on other sites

No kidding! It is the MUSIC CITY!

Haha, exactly! It's similar to my confusion as to why it took so long for the Hard Rock Cafe to put a location in Memphis...actually come to think of it, HOB doesn't have a location in Memphis either. In my mind, only Chicago and New Orleans are more perfect locations than Nashville and Memphis for an establishment called HOUSE OF BLUES . I wonder why it took them so long to get to Tennessee?

Link to comment
Share on other sites

Haha, exactly! It's similar to my confusion as to why it took so long for the Hard Rock Cafe to put a location in Memphis...actually come to think of it, HOB doesn't have a location in Memphis either. In my mind, only Chicago and New Orleans are more perfect locations than Nashville and Memphis for an establishment called HOUSE OF BLUES . I wonder why it took them so long to get to Tennessee?

Nashville and Memphis are not perfect locations? You have to be kidding! Research blues history in Memphis, and Country Blues in Nashville! Ask people who live along the Clarksville Highway about the blues scene in the 1950's and 1960's at places like The Eldorado Club where Ike and Tina first played. Jimi Hendrix played there and in Printers Alley! Check out the history of WLAC in the 1950's and 1960's! Nashville and Memphis have deep blues roots.

Glad HOB is locating here.

Link to comment
Share on other sites

At some level, however, I dislike having chains like Margaritaville and House of Blues on Lower Broad, and potentially crowding out local institutions like Tootsies and Legends.

I have to agree with you about bringing chains to Lower Broad. Particularly rather large chains. We already have the Hard Rock Cafe at 2nd and Broadway, too. BB King's Blues Club is a chain, albeit a small and cool one, so I'm ok with that on 2nd Ave. But then there is also the Coyote Ugly and the Hooters. Thank goodness some of the local places are hanging in there. Wildhorse is a shadow of its former self, but I'm glad that it is still there. 80s glam/hair bands need somewhere to play

:)

Also, would a House of Blues across from the Ryman create quite a bit of competition in that small/medium venue space?

I'd love to see somebody put something where the parking lot is located at the NEC of Second and Church. Maybe the HOB would invest in a new structure there, with structured parking, of course. Chicago's Marina City was turned into a House of Blues venue with a House of Blues Hotel above. Maybe something like that could fill this void in Nashville's built fabric and leave the convention center for something that is used during the day.

Link to comment
Share on other sites

Nashville and Memphis are not perfect locations? You have to be kidding! Research blues history in Memphis, and Country Blues in Nashville! Ask people who live along the Clarksville Highway about the blues scene in the 1950's and 1960's at places like The Eldorado Club where Ike and Tina first played. Jimi Hendrix played there and in Printers Alley! Check out the history of WLAC in the 1950's and 1960's! Nashville and Memphis have deep blues roots.

Glad HOB is locating here.

I think he's just saying that Chicago and New Orleans could be the only real competitors to Memphis or Nashville for an HOB, not that Memphis is really anything other than perfect for it.

Also, would a House of Blues across from the Ryman create quite a bit of competition in that small/medium venue space?

I don't think so. The HOBs that I've seen tend to cater to bands that wouldn't ever really go for the Ryman, or that the Ryman would ever really try to bring in. I think they could complement each other nicely, in fact. HOB can bring in more headlining rock acts (the one in Atlantic City, which is the one I see ads for all the time, has Marilyn Manson and Garbage in their lineup), and the Ryman can keep with the country, blues, bluegrass, and folk sets that it is so well known for, along with some harder, yet still folky, acts like Jack White.

And anyway, maybe a little competition would be good. A better mix of bands with hopefully lower ticket prices can get more people downtown.

Link to comment
Share on other sites

Nashville and Memphis are not perfect locations? You have to be kidding! Research blues history in Memphis, and Country Blues in Nashville! Ask people who live along the Clarksville Highway about the blues scene in the 1950's and 1960's at places like The Eldorado Club where Ike and Tina first played. Jimi Hendrix played there and in Printers Alley! Check out the history of WLAC in the 1950's and 1960's! Nashville and Memphis have deep blues roots.

Glad HOB is locating here.

I'm not sure what I said that would make you think that I don't agree with every word you said...I'm saying that Memphis and Nashville should've been some of the first cities to get a HOB and that Chicago and New Orleans are really the only cities in my book where an argument could be made for them being more deserving than Mem and Nash.

Link to comment
Share on other sites

Awesome! This is going to be a banner year for Nashville development.

Never lose faith...

http://www.bizjournals.com/nashville/news/2012/05/04/medical-trade-center-announces-new.html?page=all

"The Dallas-based developer of Nashville's proposed $250 million Nashville Medical Trade Center announced today it has launched efforts aimed at securing financing for the project, thanks in part to commitments from six new tenants.

Market Center Management Co. CEO Bill Winsor said those leases range in size from 2,500 to 9,000 square feet and push the project closer to a goal of having 60 percent of space leased before construction can begin at the site of the Nashville Convention Center, which is set to be replaced by the Music City Center convention hall opening next year.

The tenants announced today include Nashville-based Informatics Corporation of America and RemindAmerica Inc., along with the SSI Group in Mobile, Ala., New York-based Humanscale, ErgoCentric in Canada and Memphis-based V. Alexander & Co."

Link to comment
Share on other sites

Guys these are tiny tiny leases. They need several hundred thousand square feet of leases and ot sounds like they have 50-75k. I am extremely skeptical

We know you're extremely skeptical.

It's not a done deal, but it is definitely on a visible path to being a go as a few days ago no one expected 6 leases to be signed. I am extremely optimistic.

Link to comment
Share on other sites

Franktown,

The Bizjournal article says 70-100k, so I was a little off. They claim to have leases from huge companies that don't want to lose their competitive advantage by letting rivals know they have signed leases?!? I mean, what does that mean? Does that make sense in any sort of way? No, it does not. The whole "we have leased half the bujilding but we cannot tell you who they are" thing is a bit secretive and very much unlike any other commercial real estate. That should raise eyebrows.

Nashvylle,

I would be quite happy if this building came to fruitiion. I think its a cool idea, and it would provide plenty of jobs, hotel room stays, etc. I am all for it. However, this whole thing smells funny, and I'm not afraid to say so. So much of it just doesn't make sense from a logical viewpoint.

Link to comment
Share on other sites

From the Nashville Business Journal: Nashville Medical Trade Center financing: How it works

May 8, 2012 10:25 AM

By Brian Reisinger

Financing for the Nashville Medical Trade Center — a massive, complex project with untold sums tied up in it already — is in its early stages and will involve many variables. A primary one: What the lending appetite is for such a project.

Last week, med mart developer Market Center Management Co. of Dallas, Texas, announced a new string of tenants for the project. They also disclosed that Brentwood accounting firm Lattimore Black Morgan & Cain, Middle Tennessee’s largest accounting firm, would be putting together financing.

Jeff Drummonds, a partner in charge of LMBC's tax practice, said what lenders are willing to put into the project is a major consideration that will likely impact what the rest of the package looks like.

"The lending environment is certainly a big driver of that, as in any real estate project that you do," he said.

Lending in general has been somewhat stagnant in the wake of the recession, with lenders saying qualified borrowers are scarce and some businesses saying banks are too tight these days. But banks have been showing more signs of life, and in the view of Drummonds' and other experts, the environment is picking up for the right real estate deals.

Once Market Center has a clear view of what sort of debt financing it can get, Drummonds said, LBMC can help it figure out how much private investment is necessary. There's also the issue of government incentives, none of which have been committed with finality, but that Nashville Mayor Karl Dean's office outlined — including grants, a tax abatement and bonding — in a 2010 letter to Market Center.

Drummonds echoed Market Center's sentiment that moving forward with financing is a good sign of the project's readiness. It's one of many ways Market Center is pushing back against skepticism over the project, as well as touting its viability regardless of whether other projects — like the House of Blues — come into play as an alternative or a neighbor.

The selection of LBMC adds to the list of local companies with a stake in seeing the project get off the ground. And how the financing package turns out will be a pivotal piece. You know what they say: Follow the money.

Link to comment
Share on other sites

From Bill Winsor, CEO of Market Center MGMT Company-

http://www.tennessea...ext{sodEmoji.|}FRONTPAGE{sodEmoji.|}s

That's encouraging news! I really hope this thing gets built. I still don't fully understand what the advantage is of having a medical trade center in the age of the internet where you could just put all this information online...though then again, at the same time, I suppose you could say the same thing about any conventions that focus on the sale of a product.

Link to comment
Share on other sites

Per NBJ, the Med Mart has announced 80k square feet has been leased in another tenant. The question here is, is this one of the secret ones that didn't want their name out there per "competitive edge" guidelines, or is this in addition to? Either way, the lease is for 80k sq ft, which puts it at an approximately 8% chunk in and of itself. Good news indeed.

http://www.bizjournals.com/nashville/news/2012/05/23/med-mart-market-center-convention.html

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.