Description: Signature Tower, if built, will become the largest building in the state of Tennessee, and estimated to potentially be the third or fourth tallest building in the Southeast USA.
History: As of 2008, Signature Tower, if built as proposed, would have become the largest building in the state of Tennessee, tallest building in the Southeast USA, and the 3rd tallest building in America outside of New York City and Chicago. It was proposed to be 1,030 feet high, 70 floors, and include a mixture of residential, hotel, and office space (in the latest design). It was projected to begin construction in 2008, and open sometime in 2011. Due to economic troubles, among other things, this proposed tower was redeveloped.<br /><br />This building is currently in the approved status and awaiting groundbreaking. In the past, there have been several different plans for development of the site. The earliest in recent memory being a parking garage with clock tower atop it. The plans for Signature Tower started off with a completely different design with a much more traditional look, many years ago. The current design started as a 55 story tower with the same look, and progressed to its present state as plans were adjusted and aspects of the tower were added and updated.
Type: Mixed Use
Height: 807 ft.
Architect: Smallwood, Reynolds, Stewart, Stewart & Associates
Developer: Giarratana Development, LLC
Location: 505 Church St, Nashville, TN
Ground Floor Retail, Restaurant, and Hotel
Current Status: Redesign development
50 Residential Units
172,000 sq ft Office space
304 Room Hotel Palomar (previous hotel anchor assumed)
Tower looks very similar to old design, just 20 fewer stories.
Spire basically looks the same, but may be a bit shorter to look balanced with the shorter tower
807 Ft - 50 Stories
Hotel portion expanded from 198 units to 304 units
Office portion - 172,000 Sq Ft
Condo portion - only 50 units all in the upper portion of the tower. The top five floors will be full floor penthouses.
Total cost $250 Million down from $350 Million for the earlier design.
Construction costs have dropped by an estimated 20%.
Financing is hoped to be obtained in 8 to 12 months.
Overseas investors are being sought.
The Signature Tower is getting a recession makeover — dropping 20 stories from its original plan of 70 floors, removing all balconies and replacing hundreds of smaller condos with just a few larger, luxurious ones.
At 50 stories, the revised Signature will not be the tallest building in the Southeast as Giarratana had originally envisioned, likely falling to third or fourth behind towers in Atlanta and Charlotte, developers estimate.
It still will be the tallest building in Nashville at about 807 feet, surpassing the AT&T building’s 632-foot stature.
Giarratana confirmed last week that he has received an extension on his $11.5 million land loan until late in the third quarter of next year in the hopes that the financial markets will be better by then.
Signature Tower, the most ambitious of all of Nashville’s condominium, hotel and office projects, has been stalled since last year because of the nosedive in the housing and financial markets