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Nashville Yards, 15 acres/4 million sq. ft./ $1 billion, Phase I: Grand Hyatt Hotel (24 stories), Phase II: Amazon Operation Ctr. (24 & 22 story towers), Phase III: AEG/MGM District (21 story hotel, 4,000 seat theater, etc.); Phase IV: more towers

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16 hours ago, titanhog said:

Anyone know anything about the info in this locked article in the NBJ?  Just wondering what the huge loan is for.

http://www.bizjournals.com/nashville/blog/2016/01/why-the-new-owners-of-lifeways-campus-just-took.html

I'm curious myself.  Has there been any word on any kind of time frame to get this project going?  You would think something would have leaked by this point.

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It sounds like the firm has no immediate plans for the Lifeway campus.  They took out a loan from a Swiss bank for apx. half the purchase price of the campus, presumably to free up capital. The article said also they the firm is not expected to buy any additional RE in Nashville anytime soon,  as it sounds like they are digesting the purchase.  That's my take on this speculative article. 

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Hmmm, I was the last poster on this thread, and I'm no expert on this project by far. But I am just relaying the info I see/hear from reliable sources.  The NBJ has a cover story on the new owner of this campus and additional details.  According to the story, the owner of the Phoenix Suns, Carey Mack, who also runs Southwest Value Partners, had been approached by Fred Wehba of Bentley Forbes to help fund/invest in Wehba's purchase of the LW site. Wehba had extended an option contract at least twice by last summer when Mack liked what he saw and jumped at it. He decided to approach LW for his own acquisition, and he has hundreds of millions of dollars in his funds.  http://www.bizjournals.com/nashville/print-edition/2016/02/19/holy-land-lifeway-buyer-wanted-it-all.html

http://www.bizjournals.com/nashville/print-edition/2016/02/19/holy-land-lifeway-buyer-wanted-it-all.html#g3

Some details...

- Site is 14.75 acres, as compared to Bicentennial Mall (19 acres) and Bridgestone Arena (7.5 acres) and Capitol View (22 acres)

- Sale was $125MM - Half cash/Half credit

- Fifth largest R/E deal in past five decade; largest without new development

- From the article (subscription only) - "Mack is planning an expansive development poised to include everything from office towers, apartments and condos to a grocery store and movie theater...."

Edited by MLBrumby
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44 minutes ago, MLBrumby said:

Hmmm, I was the last poster on this thread, and I'm no expert on this project by far. But I am just relaying the info I see/hear from reliable sources.  The NBJ has a cover story on the new owner of this campus and additional details.  According to the story, the owner of the Phoenix Suns, Carey Mack, who also runs Southwest Value Partners, had been approached by Fred Wehba of Bentley Forbes to help fund/invest in Wehba's purchase of the LW site. Wehba had extended an option contract at least twice by last summer when Mack liked what he saw and jumped at it. He decided to approach LW for his own acquisition, and he has hundreds of millions of dollars in his funds.  http://www.bizjournals.com/nashville/print-edition/2016/02/19/holy-land-lifeway-buyer-wanted-it-all.html

http://www.bizjournals.com/nashville/print-edition/2016/02/19/holy-land-lifeway-buyer-wanted-it-all.html#g3

Some details...

- Site is 14.75 acres, as compared to Bicentennial Mall (19 acres) and Bridgestone Arena (7.5 acres) and Capitol View (22 acres)

- Sale was $125MM - Half cash/Half credit

- Fifth largest R/E deal in past five decade; largest without new development

- From the article (subscription only) - "Mack is planning an expansive development poised to include everything from office towers, apartments and condos to a grocery store and movie theater...."

Office Towers (Plural??) I think that is just what the doctor ordered for downtown. 

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Nice! With the prices they're demanding, you can't have enough rooms downtown right now apparently.

Does anyone have any numbers on how many rooms were in the CBD 10 years ago? 20?

Edited by Nathan_in_DC

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4 hours ago, PHofKS said:

The unintentional release of an early conceptual rendering for the overall project seems to be spot-on with regard to what looks like a hotel across from Union Station in the upper left.

Lifeway%20Campus_zpsrgv0oncv.jpg

I know this is an old rendering and may not reflect actual plans but doesn't the office tower look to be 40 stories or so? Would that make it the tallest in town if not close? Wonder if a huge relocation is in order.

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nashville really needs this. I was in DC awhile back and the core part was extremely walkable from my hotel. Everything you would ever need is within a mile's walk. In one store, there was a walgreens underground, a mcdonalds on street level, and a target on the upper floor. It was amazing. Ik nash isnt on dc's level (yet), but it's just something that struck with me. A city target would be huge in downtown.

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Here's a little more info from http://finance.yahoo.com/news/hyatt-southwest-value-partners-announce-174200713.html that may inform us a little more on the design.

"Hyatt Regency Nashville will offer 540 smartly designed guestrooms, 60,000 square feet of flexible meeting and event facilities, imaginative culinary experiences, technology enabled multi-functional lobby spaces, a signature Hyatt StayFit gym, and an outdoor pool."

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If the footprint for the Hyatt Regency is indeed going to be just the former LifeWay Bookstore and parking lot a the NW corner of Broadway and 10th Avenue, then the size of the lot would be approximately the same as the Downtown Hilton (next to Bridgestone Arena).  That building has 330 rooms on 12 floors, but doesn't have the 60,000 feet of meeting space, nor does it have a parking garage as part of its structure.  Therefor, it's reasonable to think with the 200 additional rooms, parking levels, and meeting space, we might be looking at anywhere between 22-28 stories minimum.  Perhaps if this Regency is more luxurious, the rooms will be larger, meaning fewer per floor, meaning more floors.  Or, the structure may be set back from the street a bit, or 1/2 or 1/3 of the footprint could be taken up with the lobby, meeting space, restaurants, garage, and amenities deck with the primary tower being the remainder of the footprint. Or the structure could be an L shape, etc., All of those options would then put it in low-mid 30s.  Anxious to see more renderings as this all unfolds.

 

Hyatt Regency footprint.png

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FWIW: The rendering shows a building of around 27-28 floors.  Am interested to see what they do with that enormous block-long warehouse (or is it production) facility.  Assuming they'll demolish most/all of it.  Compared to UMPH, this would take twice as long.  A Hyatt at this corner and the Endeavor residential/retail complex a block away will really pump life into that edge of downtown. Then there's the potential for the Tennessean property.  Would like to see something creative to integrate the upper and lower levels of the Broadway viaduct and gulch for pedestrian activity. 

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This is great news and now I'm hoping it means that we might hear more concrete info about the rest of the development within the next 6-12 months.  And now we can look forward to hearing who buys the Tennessean site too.  So much potential for downtown.

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Can anyone who has access behind the NBJ paywall give us the info on the new info?  Is the whole development, indeed,  going to be called "Nashville Yards" now?

BTW, here is a press release from Hyatt Regency last summer that gives a bit more info on the hotel which will be the first element built:

http://newsroom.hyatt.com/083116-Hyatt-and-Southwest-Value-Partners-Announce-Plans-for-a-Hyatt-Regency-Hotel-in-Nashville


"...will offer 540 smartly designed guestrooms, 60,000 square feet of flexible meeting and event facilities, imaginative culinary experiences, technology enabled multi-functional lobby spaces, a signature Hyatt StayFit gym, and an outdoor pool. Additionally, the hotel will feature multiple community gathering places – areas to relax, meet, engage, and recharge."

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