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

[calebbink]

Core drillers were at the 17th & McGavock site today.

I'm trying to keep up - what's going here again?? 

Edited March 26, 2014 by calebbink

[MidTenn1]

I'm trying to keep up - what's going here again?? 

 

 

[samsonh]

This is what you call the end stages of a bubble IMO

[smeagolsfree]

I guess we will see. I will say from all I have heard this is not going to end there are about 20 more projects that are supposed to start this year. The rental rates and occupancy are all still high and all indications are that the millinials have no interests in buying at this stage in their life. According to everything I have read is that this will continue for at two or three more years.

[smeagolsfree]

Elliston project gets name change.

http://nashvillepost.com/blogs/postbusiness/2014/3/26/midtown_project_now_called_the_dallas_on_elliston_place

[MLBrumby]

I guess we will see. I will say from all I have heard this is not going to end there are about 20 more projects that are supposed to start this year. The rental rates and occupancy are all still high and all indications are that the millinials have no interests in buying at this stage in their life. According to everything I have read is that this will continue for at two or three more years.

 

All market data available from the past five years show that annual population growth has increased from about 7k to just above 12k.  Coupled with the pent-up demand for housing because Nashville didn't build furiously like other places prior to the housing bubble collapsing, two or more years sounds about right.  After that, I think the first caution will come in the location and type of new projects planned (i.e. distribution of product).  

 

Even with the projects underway or close to starting, the apartment market is still very healthy. There are other factors too, such as a reduction in demand (and supply) in single family homes, which traditionally have been the next moves for apartment residents (much driven by obvious factors like demographic changes).  Even with the urban projects, there is a bit of a "quiet boom" going on in the suburban areas. 

Edited March 26, 2014 by MLBrumby

[bwithers1]

Interesting article.  I'm still not getting the name change to "The Dallas on Elliston."  The article indicates that the former property owner's middle name was Dallas, but the family name was Dudley.  Why not "The Dudley on Elliston?"  That would be less confusing.  This name change suggests that Nashville is "trying to be like Dallas" or something.

Elliston project gets name change.

http://nashvillepost.com/blogs/postbusiness/2014/3/26/midtown_project_now_called_the_dallas_on_elliston_place

[UTgrad09]

Interesting article.  I'm still not getting the name change to "The Dallas on Elliston."  The article indicates that the former property owner's middle name was Dallas, but the family name was Dudley.  Why not "The Dudley on Elliston?"  That would be less confusing.  This name change suggests that Nashville is "trying to be like Dallas" or something.

We'll just tell visitors that local pronunciation is "Duh-lass".

[CenterHill]

The Big D on E

[Vrtigo]

Interesting article.  I'm still not getting the name change to "The Dallas on Elliston."  The article indicates that the former property owner's middle name was Dallas, but the family name was Dudley.  Why not "The Dudley on Elliston?"  That would be less confusing.  This name change suggests that Nashville is "trying to be like Dallas" or something.

 

Pure marketing, I'm sure. If I was the developer, I'd prefer to stay as far away as possible from spending millions of dollars on a project that could easily be referred to as "The Dud."

 

If nothing else, Dallas just sounds sexier--history be damned.

 

(First post, btw. Maybe someday I'll contribute something meaningful.)

Edited March 26, 2014 by Vrtigo

[smeagolsfree]

Welcome to the forum Vrtigo. Looking forward to meeting you at some point. Looking forward to more contributions as well.

[smeagolsfree]

Here is the reason for the two homes being demolished on Hayes.

http://www.tennessean.com/story/money/2014/03/26/luxury-rowhomes-planned-midtown-nashville/6924007/

Six, three story row houses.

[nashmoney]

Noticed a demolition permit issued for 2118 and 2120 Hayes St. today. These are a couple of old houses behind the Caterpillar building.  Any info on what's happening here?  

 

Luxury rowhomes planned for Midtown Nashville

 

http://www.tennessean.com/story/money/2014/03/26/luxury-rowhomes-planned-midtown-nashville/6924007/

 

"The rowhouses will sell for roughly $799,000, he said." - Interesting, they are going super luxury with these rowhouses. I wonder how well these will sell.

[CenterHill]

 

"The rowhouses will sell for roughly $799,000, he said." - Interesting, they are going super luxury with these rowhouses. I wonder how well these will sell.

 

The wall of parking decks across the street is unfortunate, but if done right, I expect they'll sell.    Not sure how "private" those rooftop terraces will be with Caterpillar and Lowes looking down on them.   

 

The old Lee apartment building next door, btw, is one of the unsung gems in Nashville's urban housing stock.    I can't speak to the interior amenities, but compare the architecture to the stick-frame, stucco/hardie stuff going up now.  

[bnaflyer]

Query:  Has there ever been a real estate project in Nashville that was NOT a "luxury" project?.......  

 

It is funny how the paper always accepts and repeats that label without any explanation of what makes the development "luxurious."

[nashvylle]

I hope Lee Beaman is ok with this. If not, he could create a StopRowHomes.org and bribe the senate to pass a bill stating RowHomes are not allowed to be built near state roads.

[MLBrumby]

Query:  Has there ever been a real estate project in Nashville that was NOT a "luxury" project?.......  

 

It is funny how the paper always accepts and repeats that label without any explanation of what makes the development "luxurious."

 

Sounds better than "builders' grade". However, for that price, I would hope the buyers' get at least some "custom" features. 

[Vrtigo]

Seems like a seriously odd place to put two single-family homes, though... I can't imagine the surrounding parcels going anywhere but up! 

[smeagolsfree]

Seems like a seriously odd place to put two single-family homes, though... I can't imagine the surrounding parcels going anywhere but up!

Actually, the six town homes will replace two older homes that are in very bad shape. Not really a lot of difference in buying there or at the Dallas on Elliston only a block away. This area has so much potential. The big difference is 799,000 dollars. That is more than the average, but I don't know how large they will be. There are apartments right next door that look as if they were built early in the last century. I think they are the Lee apartments. I am really interested to see the rendering for sure. You are right, the property value will go up for sure.

[smeagolsfree]

Here is an article from William at the Post. I just hope the renderings are not what will be built there. That is another project, but I would much rather see something a little more classical looking.

http://nashvillepost.com/blogs/postbusiness/2014/3/27/modernist_row_homes_targeted_for_midtown

[nashvillwill]

For $800k, I'm not sure I would want to live right behind The End. It's a very loud club with nearly zero sound insulation. When I lived in The Lee, weekend nights were very loud. Not to mention rockers pissing and throwing beer bottles in the yards of these homes. And, there would be about 16 Units from The Lee looking down on you.

I'm not saying I don't think it would be a nice place to live, given the right frame of mind. In fact, I loved living there when I was younger. But for nearly a million bucks, I think I could find better.

[calebbink]

For $800k, I'm not sure I would want to live right behind The End. It's a very loud club with nearly zero sound insulation. When I lived in The Lee, weekend nights were very loud. Not to mention rockers pissing and throwing beer bottles in the yards of these homes. And, there would be about 16 Units from The Lee looking down on you.

I'm not saying I don't think it would be a nice place to live, given the right frame of mind. In fact, I loved living there when I was younger. But for nearly a million bucks, I think I could find better.

I agree. I'm skeptical, but I really want these to do well. If they do, hopefully it'll raise land values and this area will really start to evolve.

[nashvillwill]

I agree. I'm skeptical, but I really want these to do well. If they do, hopefully it'll raise land values and this area will really start to evolve.

I guess I don't follow you about raising land values. This block is as built-out as built-out can be. Maybe it could spur similar development down Hayes, but I just don't see Townhomes as the ideal fit for this street. They would be awkward stepping stones down a river of boulders.

Edited March 28, 2014 by nashvillwill

[calebbink]

I guess I don't follow you about raising land values. This block is as built-out as built-out can be. Maybe it could spur similar development down Hayes, but I just don't see Townhomes as the ideal fit for this street. They would be awkward stepping stones down a river of boulders.

Good point. Guess it's just wishful thinking on my end.

[bwithers1]

Demo permit pulled yesterday for 119 Acklen Park Drive.  Are these the Westmont Apartments?

Edited April 2, 2014 by bwithers1