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upzoningisgood

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  1. https://richmondbizsense.com/2022/09/12/apartments-next-to-kinsale-headquarters-sell-for-91m/ This would be a solid price even by Nashville standards. Knox at Metrocenter, probably the best comp for this, sold for $372k a door. This sold for $350k a door, which is pretty close. It would be the 6th-highest per-SF price in Nashville for wood-frame. This is good news. This will help out the underwriting a lot.
  2. I guess the silver lining here is if Legends ever sells, the development opportunity will be much better because of the expanded view. That also means complaining at the local meeting will earn Legends a lot of work-free land profit, which is obviously an asinine incentive built into the community review process.
  3. @I miss RVA Let me see RVA land the plane on CoStar before I give a verdict. I have no inside knowledge to indicate they won’t, but nothing matters until they start construction. 4400 jobs is a lot in any market.
  4. I see it as a win-win for them. The property only appreciated 5% yearly from when the seller bought it. So unless the seller grossly overplayed, it’s not a huge premium. If they hold, they probably end up fine. But that parcel would be 15M$ in Nashville if you could rezone it (snowballs chance and all I know) so there’s lane appreciation upside.
  5. @ancientcarpenterThanks for the context
  6. Out of curiosity, how was it a bait and switch? Don’t know the history here.
  7. Reread the article. Definitely see that with Trammel. Guess I didn’t register her quote the first time. I think Jones is more ambiguous. Here’s Jones: “It would have been great for this to be the third major economic development deal to happen in this city,” Jones said. “I’m just one to remind us of that, of what we allowed to slip through this council’s control. We could have dramatically changed the upward mobility of this entire region. But we missed that opportunity, and we can’t let that go unheralded.” I think this quote hinges on what he means by “unheralded”.
  8. Plus, the issue with the casino was that it failed the public referendum. The only issue be brought up that was actually on council was Navy Hill. Personally, I think axing it was the right choice but no need to relitigate that.
  9. @eandsleeI read the article too and had the opposite impression. It sounded more like “we missed our shot twice and can’t miss it again” when I read it.
  10. Worst case scenario they’ve already been approved for the original twin tower design so there should be some decent density in that site regardless.
  11. Challenge here is that land will be filthy and will probably have to be entirely dig up and replaced. That adds a lot of costs.l and limits the buyer pool to be sure.
  12. I think the first and third are for the locks. I don’t recognize where the second one would be.
  13. @Downtowner is it an eco building because of new materials, new technology, or new building techniques?
  14. @I miss RVA anecdote on growth bringing more growth. This is from the guy whose job it is to bring in business to Nashville.
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