smeagolsfree

Element Music Row | 19 stories, 431 Units | Musica Roundabout | Finishing Touches

245 posts in this topic

I didn’t comprehend what I had yesterday when I told WW about this. I thought that the Faison Project was adding floors to their project, but then realized this is the lot next door and its has been staring me in the face for a while. Forgive me when I said a little tid-bit. I just didn’t want to say 14 stories worth of little and give it away.

 

380 units, 14 story residential building. Childress Klein Properties is the developer out of Charlotte. This will be in a great location sitting right on the round-about.

 

Height 157’

 

You guys can do a separate thread if you want. To zonked to give a hoot. LOL

 

There are a few smaller projects in the brew that are simmering.

 

Article is behind pay wall, but you know what I know.

http://nashvillepost..._for_roundabout

 

Here is a link to the architect

http://www.rjtplusr....esidential.html

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Very nice!!  I look forward to seeing a rendering.  It will be nice to see the roundabout entirely surrounded by urbanity.

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Outstanding!    Yes, it will be interesting to see how the tower addresses the wedge shaped site.   

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Regardless I'm really excited for this project, and judging by the architect's website, we could be in for a very nice design. 

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I don't know anything about this sort of stuff, but it seems to me like 287 one bedroom units and only 93 two bedroom units seems like an odd balance.  Or maybe they're just making a bigger deal out of the breakdown than I'm used to seeing and it's throwing me off.

 

Is there a norm for how towers breakdown their units like this?  It would appear that this developer thinks we're underserved in terms of one bedroom apartments in mid town, but can we glean anything else from this info?  Are we underserved in a particular type of one bedrooms (i.e. economy, mid-market, luxury)?  Does a tower with this many one bedrooms (assuming again that I'm right and this isn't the norm) typically come with particular perks and detriments (for example, I imagine we'll probably see a balcony off pretty much every window) or is it is mostly a case by case situation?

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^^^^More of what the developer knows he can fill. Single people or couples without kids will rent a one bedroom apartment for $1400 or more a month. When the need for two bedrooms comes along, most people are in the buying phase, or at least want to have their own personal space that isn't shared with 400 or so other people. 

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380 units....14 stories....the site is about 1.5 acres. 

 

I'm guessing we're going to be looking at a twice-as-tall Elliston 23.

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As to the room breakdown: I don't know if any if you have apartment shopped lately, but it is almost impossible to find a one bedroom without breaking the bank. Many people don't want roommates once they reach their mid twenties. I feel like this building could do really well with that location/view.

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This will really help connect The Gulch with Music Row even more than it already is. Along with the current apartments under construction across from the music row bars, Rhythm, and the new Hensler apartment atb12th and Demonbreun, there will be a major residential development on every block from the roundabout to the heart of the gulch at Icon. I wish there was away to make crossing I-40/65 more pedestrian friendly. It feels very congested and dangerous trying to cross the on/off ramps or Demonbreun as a pedestrian.

I also wish we'd get another condo or two built here. We seem to be getting very apartment heavy in this area. While they are luxury apartments, I feel like condos provide a more stabilizing presence since the tenants are also owners and are more likely to be long-term residents interested in the quality of the neighborhood.

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From the Tennessean...

 

..with a few enlightening quotes.

 

Meneguzzi sees opportunities, especially for developers planning smaller condo projects with 20 to 30 units in good locations in Nashville’s urban core.

“They will probably hit a home run,” she added, however citing financing challenges for those with 100-plus units. That’s because financing is generally unavailable for such projects.

 

“There’s demand, but the reality is lenders are unwilling to fund large-scale condo developments right now,” said Giarrantana, who plans the 32-story SoBro apartment tower south of Broadway.

 

 

 

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Replacing the strip club that stands proud on that one prominent corner would be a very big step in the right direction!  I seriously do not think that their dinner buffet falls into the classification of "fine dining!"  Any rumors of that possibility?

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Is that quote by Tony a good or bad sign for the SoBro tower? 

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Whoops, my mistake, I guess I'm just really excited for that one!

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Not a bad sign for the SoBro tower by any means, but it does sort of squash the idea that SoBro might be changed to a condo tower, or that there may be a big time condo project on the horizon.

 

My guess would be that as the apartment inventory builds up (by a lot), then you'll see conversions to condos rather than buildings built as condos.

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Not a bad sign for the SoBro tower by any means, but it does sort of squash the idea that SoBro might be changed to a condo tower, or that there may be a big time condo project on the horizon.

 

My guess would be that as the apartment inventory builds up (by a lot), then you'll see conversions to condos rather than buildings built as condos.

 

This is more likely than seeing new condo towers (much to the chagrin of a few here). I believe you will see some, like SoBro and Hensler's, split maybe their top 20-30 units each into condos. This will help with some of the supposed condo requests I have heard about.

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Replacing the strip club that stands proud on that one prominent corner would be a very big step in the right direction! I seriously do not think that their dinner buffet falls into the classification of "fine dining!" Any rumors of that possibility?

As I understand it they own the land and want 5 years revenue to sell.

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As I understand it they own the land and want 5 years revenue to sell.

Paid in singles.

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Wow! This lot has come a long way since 2008. It's a good lesson in patience.

 

From the old Lionstone proposal....

 

Lionstone1515DemonbreunSitePlan.jpg

with this office building that had been 60% pre-leased with Earl Swenson Architects as primary tenant  (now building a home in the Gulch)..Remember the threat to condemn the private lot next to it?

 

Lionstone_zpse15f8403.jpg

 

To this great urban wall along Demonbruen...

 

NewLionstone_zpsb7be61e9.jpg

 

 

And according to one past comment, Lionstone has saved a corner of the lot for a future office building, although I can't figure out how that will fit.

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