Inside 440 - Berry Hill, Midtown, Vanderbilt, 12S, WeHo, Fairgrounds, etc.

[markhollin]

19th & Wedgwood (4 stories, 20 units) update: Brickwork underway, windows set.

Looking NE from intersection of Wedgewood Ave. and 19th Ave. South:

Looking SE from 19th Ave. South, 1/2 block north of Wedgewood Ave:

[markhollin]

Montgomery Bell Academy Athletic Center update:  Exterior nearing completion.

 

[markhollin]

1010 18th Ave. South (3 & 4 stories, 13 units) update: Windows installed.

Looking SE from 18th Ave. South, 1/4 block south of Grand Ave:

Looking east from 18th Ave. South, 1/4 block south of Grand Ave:

Looking NE from 18th Ave. South, 1/2 block south of Grand Ave:

[markhollin]

Central BBQ remake of former Sportsman's Grille at 21st Ave. South and Children's Way update:  New wrap-around patio roof nearly done; new windows installed; brick repainted gray with blue trim.

Looking SW from intersection of 21st Ave. South and Children's Way:
 

[gannman]

19 hours ago, markhollin said:

1010 18th Ave. South (3 & 4 stories, 13 units) update: Windows installed.

Looking SE from 18th Ave. South, 1/4 block south of Grand Ave:

Looking east from 18th Ave. South, 1/4 block south of Grand Ave:

Looking NE from 18th Ave. South, 1/2 block south of Grand Ave:

 

Why would the city allow this development to have road access on 18th when there is an alley available?

[MLBrumby]

Good question! But the answer is what it always is.. "It's Nashville! Where planning and access points are always an afterthought." 

[markhollin]

Vanderbilt Univ. WECN Beautification & Renovations projects updates:

[nashvylle]

oh wow that looks great. 

[dragonfly]

On 11/27/2020 at 4:07 AM, markhollin said:

Montgomery Bell Academy Athletic Center update:  Exterior nearing completion.

I suppose my dollars helped on that. No more, my $500 annual gifts stopped when the snowflakes decided to get all offended/butt hurt at the statue of boy scout Sam Davis.

[markhollin]

A bit of history: 60 years ago this past week, Tennessee Vols vs. Vanderbilt Commodores at Dudley Field. A record 34,000+ in attendance.
 

[markhollin]

Woodfield Development's still unnamed $82 million, 6 story, 292 unit residential project on several acres at 1600 State St. will get underway in January.  Completion is [planned by late 2022. R.C. Matthews will be the contractor, The Housing Studio is the architect, Regions Bank is the lender, and ELV Associates is the equity partner. 

The exterior will be primarily brick with some cementitious fiber.  

Units will be studio, one-bedroom and two-bedroom. About 12,000 square feet will be devoted to multiple amenities, including a sky lounge with city views in both buildings. Other amenities will include a fitness facility, a swimming pool with a bar, a canopy and a fire pit. Parking will be structured.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21144748/january-start-set-for-midtown-apartment-project

 

By way of reminder, this screen snot from Smeagolsfree's excellent development map shows the site highlighted in teal at the center of the frame:
 

[markhollin]

Evergreen Investment Co. is planning a 225 unit apartment complex of unknown height on 1.5 acres at 2401 21st Ave. South (the SW corner of 21st and West Linden Ave).  Smith Gee is the. architect, and Fulmer Lucas Engineering is handling design. More details will be forthcoming next month.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2020/12/02/hillsboro-apartments.html

This screen snot from Smeagolsfree's excellent development map shows the site highlighted in teal at the center of the frame:
 

[downtownresident]

56 minutes ago, markhollin said:

Woodfield Development's still unnamed $82 million, 6 story, 292 unit residential project on several acres at 1600 State St. will get underway in January.  Completion is [planned by late 2022. R.C. Matthews will be the contractor, The Housing Studio is the architect, Regions Bank is the lender, and ELV Associates is the equity partner. 

The exterior will be primarily brick with some cementitious fiber.  

Units will be studio, one-bedroom and two-bedroom. About 12,000 square feet will be devoted to multiple amenities, including a sky lounge with city views in both buildings. Other amenities will include a fitness facility, a swimming pool with a bar, a canopy and a fire pit. Parking will be structured.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21144748/january-start-set-for-midtown-apartment-project

 

By way of reminder, this screen snot from Smeagolsfree's excellent development map shows the site highlighted in teal at the center of the frame:
 

This looks great! What a great addition to that neighborhood. Hopefully there is more to follow. 

[smeagolsfree]

Look for the Woodfield project to have a State Street address for the name. My only concern is that they do not replace the brick with a cheaper material to cut cost. That was my concern I passed along to WW when I saw the rendering yesterday.

The w/s permitting was done a few weeks ago and these people are difficult to reach. 

Lots of apartment projects moving forward under the radar right now.

[markhollin]

Vanderbilt Children's Hospital:
 

[donNdonelson2]

That building reminds me of a transformer in the process of transformation. (Which is, I suppose, appropriate imagery for a Children’s Hospital.) 

[markhollin]

Woodfield residential project (6 stories, 292 units) update: trees and a few small structures down; erosion barriers up.

Looking NE from intersection of McMillin St. and State St:
 

[markhollin]

Vandy's School of Nursing expansion (5 stories, 29,950 sq. ft.) which was completed a year ago.

 

[MLBrumby]

This is the sort of stuff that makes me wonder... how can a purchase like this by a REIT for this amount realize a positive CAP rate?  Even if it's to hold the property for future development. Just doesn't seem like a good investment to me.  But I am an innocent noob when it comes to commercial real estate. 

Anyway,  here's this.  https://www.nashvillepost.com/business/development/commercial-real-estate/article/21144921/reit-pays-14m-for-midtown-medical-office-property

 

[smeagolsfree]

2 hours ago, MLBrumby said:

This is the sort of stuff that makes me wonder... how can a purchase like this by a REIT for this amount realize a positive CAP rate?  Even if it's to hold the property for future development. Just doesn't seem like a good investment to me.  But I am an innocent noob when it comes to commercial real estate. 

Anyway,  here's this.  https://www.nashvillepost.com/business/development/commercial-real-estate/article/21144921/reit-pays-14m-for-midtown-medical-office-property

From the Post story and sort of answers you question. The seller doubled their money in 5 years. This is a valuable parcel that fronts Charlotte and with the amount of construction in the area and the expansion of the hospitals, I think it is a safe bet they will double their money or more, when it is time to sell. With  this REIT or any other they just sit on a property till someone makes them an offer they cant refuse.

"The seller was HEP Charlotte MOB LLC, which paid $7.57 million for the property in August 2015, according to Metro records." 

[downtownresident]

Tower crane is up for the Saint Thomas Midtown expansion. 

[smeagolsfree]

The project at 50 Music Row, the former octagon building was on the MPC agenda last night. They were want to change from hotel to residential, however this is against the  Music Row plan that was adapted in 2019. The Music Row area seemingly is divided into 4 subsections and this area does not allow residential. It was brought up at the meeting that other attempts have been made recently to get a variance to the plan and were much larger and have been denied. The only recourse now is to appeal in front of Metro Council. Freddie is in opposition unless there is substantial affordable housing included. The plan only offered reduced market rate housing for 10% of the units for musicians.

So now this group went from a office renovation, to a hotel, to residential, and have torn the building down. This is a group of amateurs from Dickson that got in over their head  in an economy that will eat them alive. This is also the same group that wants to do the hotel on Elliston Place and I suspect they are having difficulty getting a loan for that project as they could not get a loan for the hotel for this project.

28. 2016SP-083-003 On Consent: No 50 MUSIC SQUARE WEST (AMENDMENT #1) Public Hearing: Open Council District 19 (Freddie O'Connell) Staff Reviewer: Jason Swaggart A request to amend a Specific Plan for property located at 50 Music Square West, at the southeast corner of Chet Atkins Place and Music Square West (0.52 acres), to add multi-family residential as a permitted use, requested by Barge Cauthen & Associates, applicant; SAI RAM 009 LLC, owner. Staff Recommendation: Disapprove.

Disapproved 8-0

[titanhog]

^^It actually doesn’t bother me that they tore the building down (it was an ugly behemoth, anyway).  Now…someone needs to build something appropriate for the neighborhood.

[markhollin]

Saint Thomas Hospital expansion (4 stories) at 310 21st Ave. North has been granted a $1.16 million permit, with Turner Construction handling the work.  Also, a pic of the crane which is up and operational.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21144942/images-released-for-planned-gulch-building

Looking south from intersection of 21st Ave. North and Patterson St:
 

[markhollin]

Panattoni Office Building (5 stories, 130,000 sq. ft.) update:  Hole for garage is getting deeper.

Looking south from 16th Ave. South, 1/2 block north of Tremont Ave:

Looking SE from 16th Ave. South, 1/2 block north of Tremont Ave: