BROADWEST (former West End Summit), 36 story Conrad Hilton Hotel/condo tower, 22 story/510,000 sq. ft. office tower, 4 story/125,000 sq. ft. retail/office, 1 acre plaza, 2,500 car garage, $490 million

[urbanplanet17]

BTW, YIL that Waldorf is a Hilton brand. 

[smeagolsfree]

13 hours ago, titanhog said:

I wouldn't doubt it.  There are developers out there negotiating with all kinds of "elite" hotel brands right now.  Will be interesting to see which ones will come to fruition.

Yep, I have been hearing little things here and there like another big brand in SoBro too.

[Hey_Hey]

I agree. Waldorf Astoria. I was in Vegas recently with my wife and we walked through the Waldorf-Astoria just to say we walked through the Waldorf-Astoria. There's something about a hyphenated name that is seemingly synonymous with luxury and class (although I am sure there are notable exceptions to this).

[PruneTracy]

24 minutes ago, Hey_Hey said:

There's something about a hyphenated name that is seemingly synonymous with luxury and class (although I am sure there are notable exceptions to this).

[nashvylle]

14 hours ago, DDIG said:

 

The hotel inventory is going to be there but Nissan needs a LOT of work to be Super Bowl ready. There will be a big war sooner than later to either put a bunch of money in Nissan or build a new dome. We can't host a Final Four without a domed stadium.

 

I am definitely in the "renovate Nissan stadium to include a roof" camp. The good news is that stadiums these days don't need 50 acres of surface parking lots around them like Nissan Stadium currently has. The vast majority of these parking lots could be sold to the private sector (sale proceeds go to stadium construction fund) and a portion of the real estate taxes associated with the developments could also go towards the stadium construction. Remaining construction fund sources could come from stadium naming rights (whenever Nissan's rights expire). Also a ~$1 hotel / motel tax. 

Edited February 27, 2019 by nashvylle

[Mr_Bond]

On 2/26/2019 at 9:16 AM, AronG said:

Gonna be interesting to see how Nashville absorbs all these top end condos. Couple hundred each in this one, 2nd & Demonbreun, and Paramount, among others. I guess these guys are foreseeing a lot of demand from Amazon and AB, etc.

There's demand from several other places.  There is a steady stream of HNW (high new worth) and UHNW (Ultra HNW) people moving here from high tax states, often as retirees, who have lots of dollars to spend on a home, want to downsize and live close to all that Nashville has to offer.

Also, there's a stream of HNW/UHNW Middle Tennesseans who want a place in the city as a second home.  They spend most of their time at a large home in Williamson county, Sumner county, Cookeville, and other places, and want a place to spend a weekend every month in downtown Nashville.  I recently spoke to someone who moved from Williamson county to 12 South and now is interested in a condo downtown.

[donNdonelson2]

32 minutes ago, nashvylle said:

I am definitely in the "renovate Nissan stadium to include a roof" camp. The good news is that stadiums these days don't need 50 acres of surface parking lots around them like Nissan Stadium currently has. The vast majority of these parking lots could be sold to the private sector (sale proceeds go to stadium construction fund) and a portion of the real estate taxes associated with the developments could also go towards the stadium construction. Remaining construction fund sources could come from stadium naming rights (whenever Nissan's rights expire). Also a ~$1 hotel / motel tax. 

I think our taxes on a hotel/motel room night are already on the very high side!

[nashvylle]

2 minutes ago, donNdonelson2 said:

I think our taxes on a hotel/motel room night are already on the very high side!

I agree, and hoping that majority does not come from any taxes. 

Do you know if those taxes above also are applied to airbnb?

[Leif]

6 hours ago, titanhog said:

Back to the hotel talk.  Which would you guys rather it be?  Conrad or Waldorf?

I stayed at the Conrad in Miami recently and it was pretty underwhelming.

[Hey_Hey]

Yes, those same taxes are applied to AirBNB. I also agree that our Hotel room tax is high enough.  

[e-dub]

12 minutes ago, Leif said:

I stayed at the Conrad in Miami recently and it was pretty underwhelming.

How about the service?

[Leif]

18 minutes ago, e-dub said:

How about the service?

The bar was always super dead so I never bothered going and I never use room service. They did have one of those in room espresso machines and would bring new pods for it every day and the room had a shower and bath. Maybe it is a generational thing as I didn't like the Ritz Carlton in Marina Del Ray either, I'd rather have an interesting room and bar and no spa or room service. For example I'd take the Hoxton in Williamsburg over both and it was materially cheaper.

[e-dub]

I'm with you: I prefer an interesting room and building but others are more about the service.

[OnePointEast]

Will these towers be above ground before the end of the year?

[DDIG]

15 minutes ago, OnePointEast said:

Will these towers be above ground before the end of the year?

The NBJ article said BOTH towers to OPEN by summer 2021 which seems wildly ambitious to me with a luxury quality project at this scope.

[OnePointEast]

10 minutes ago, DDIG said:

The NBJ article said BOTH towers to OPEN by summer 2021 which seems wildly ambitious to me with a luxury quality project at this scope.

Thanks, @DDIG.

 

Wow. I'm not even that optimistic on finding my razor during the hectic morning hassle.

Edited February 27, 2019 by OnePointEast

[Hey_Hey]

1 hour ago, e-dub said:

I'm with you: I prefer an interesting room and building but others are more about the service.

It seems to me  that customers pay more to spend more.  By that, I mean they pay inflated nightly prices compared to less luxurious hotels so that they have the opportunity to pay for expensive services that only that level of hotel provide (e.g. spas).  I've always taken the approach of spending less per night and getting the same services outside the hotel for a more affordable price. 

Regardless, these levels of hotels are nothing but good for the Nashville market.  It shows that the market is maturing and becoming more sophisticated, and these types of hotels will absolutely draw a different clientele into town.  

[smeagolsfree]

My guess is late 4th quarter of 21, maybe a little later. 

[NashvilleObserver]

I really wish this could be a Mandarin Oriental or a Ritz Carlton. 

[Craiger]

Found a few new to me details in the Water Permit filed earlier this month and thought I'd share:

[PruneTracy]

3 hours ago, Craiger said:

Found a few new to me details in the Water Permit filed earlier this month and thought I'd share:

That's a ridiculous amount of water per condo. We usually assume 150 gallons per day for homes without lawns/gardens.

[WebberThomas4]

18 hours ago, PruneTracy said:

That's a ridiculous amount of water per condo. We usually assume 150 gallons per day for homes without lawns/gardens.

A lot of bidets 

[smeagolsfree]

First construction permit pulled for foundation permit for almost 5 million. After almost 20 years of waiting the very first construction permit has now been pulled. The reason I say 20 years is that ASP started this whole process in like 1999 by buying property at this location. If took him 19 years of thumb twiddling and basically a year from Propst to get it going.

 

Thank you Propst Development.

[nashvylle]

1 hour ago, smeagolsfree said:

First construction permit pulled for foundation permit for almost 5 million. After almost 20 years of waiting the very first construction permit has now been pulled. The reason I say 20 years is that ASP started this whole process in like 1999 by buying property at this location. If took him 19 years of thumb twiddling and basically a year from Propst to get it going.

 

Thank you Propst Development.

I would consider the excavation as the first construction permit. However we know what a blue ball that was. HCA lease was the second round of blue balling.

This development is going to be worth the wait!

Edited March 8, 2019 by nashvylle

[smeagolsfree]

The others were actually excavation, this one involves actually building the buildings . That was the point I was trying to make.