Nashville Yards, 15 acres/4 million sq. ft./ $1 billion, Phase I: Grand Hyatt Hotel (25 stories), Phase II: Amazon (26 & 22 stories), Phase III: AEG District (4 K theater, 34 & 35 story apts); Phase IV: Pinnacle Tower (35 stories), Amazon 3 (43)

[MLBrumby]

Was that area even called Nashville Yards at any time in the past?  Sort of smacks of corporate naming. 

[Will]

2 hours ago, dmillsphoto said:

Energico Polytonality. 

 

Because @UTgrad09 loves buildings named after music terminology.

Nashville Traxxx. One stone, two birds.

[Andrew_3289]

3 hours ago, bhibbs said:

its locked, anyone have the details?

A grocery store, a movie theater and a music venue all are targeted as part of a forthcoming redevelopment of a prime swath of downtown real estate — one of Nashville's biggest real estate deals in at least the past decade.

Southwest Value Partners, the San Diego investor who paid $129 million for nearly 15 acres, is negotiating with companies that would operate or brand each of those three types of amenities, according to multiple sources with knowledge of the talks.

Enlarge

In the foreground, the 14.5-acre campus of LifeWay Christian Resources is seen from a… more

NATHAN MORGAN | NASHVILLE BUSINESS JOURNAL

Southwest Value Partners, a firm co-founded by the owner of the NBA’s Phoenix Suns, bought the campus of LifeWay Christian Resources and a bit of adjacent land one year ago. Now, the company's plan to overhaul the property is crystallizing. On Dec. 13, sources said officials from Southwest Value Partners disclosed their name for the development — Nashville Yards — at a private party where attendees could take a virtual reality tour of the proposed project.

The grocery store, movie theater and music venue are just a few of the pieces in the mix for the development Southwest Value Partners is pursuing, which would cost hundreds of millions of dollars and alter the city's skyline. The company, which had never invested in Nashville before, transformed from total unknown to one of the city's most pivotal landowners by swooping in and buying the LifeWay campus at the sixth-largest lump sum paid for Nashville real estate in the past decade, according to our research. The deal is so large, Southwest Value Partners paid $462,000 in Metro fees to file the deed recording the land sale (those fees tie directly to the purchase price).

Mystery still shrouds the firm and its project, as executives have declined interview requests to-date. We took you inside the deal for the LifeWay campus as best we could earlier this year. To be sure, because these are ongoing negotiations, there is no guarantee a grocery store, a movie theater or a music venue (in any combination) will ultimately materialize.

Publicly, Southwest Value Partners has given one peek behind the curtain, and it was a big one, as Hyatt Hotels Corp. (NYSE: H) announced a 540-room Hyatt Regency for the project. The high-rise hotel, if built, would be the third-largest hotel downtown, surpassing even the 33-story JW Marriott under construction in SoBro.

What's clear is that Southwest Value Partners owns enough land to create a district of sorts, with a lot of office space and apartments or condos also in the mix. Although construction costs continue to escalate, the developers stand to benefit from other factors in their favor — namely, the increasing appeal Nashville's urban core has for businesses and residents alike. That has helped generate a historic shortage of office space available to lease. Meanwhile, downtown's population has jumped 40 percent in four years and is increasingly well-off, according to the Nashville Downtown Partnership. The group, which surveys residents each year, projects downtown's population to stand near 10,000 by year's end, and grow even faster in the coming years.

For the fifth year in a row, residents responding to the partnership's annual survey ranked a grocery store as their most-desired amenity. The second most-desired feature: a movie theater.

The status of financing to build the development remains unclear publicly, and banks wouldn't commit to construction loans until that activity was imminent. That said, Southwest Value Partners has demonstrated the depth of its connections — starting with Robert Sarver, who co-founded the firm 25 years ago and, in addition to owning the Suns, is also chairman and CEO of Western Alliance Bancorp (NYSE: WAL) and its $17 billion in assets. In its most recent filing with the U.S. Securities and Exchange Commission, Southwest Value Partners reported a $296 million round of fundraising from investors. Don't forget that the company paid all-cash for the LifeWay site (two months later, the firm took out a loan on the property equal to less than half that amount).

Hilton said it expects to open the Hyatt Regency in 2019. It's planned for the corner of Broadway and 10th Avenue North, across from the historic Union Station Hotel, the Frist Center for the Visual Arts and a Holiday Inn. That location is a quarter-mile from where Whole Foods Market (Nasdaq: WFM) has signed a long-term lease in an apartment tower that Austin developer Endeavor Real Estate Group has proposed.

As we've reported, Southwest Value Partners is working with Nashville architecture and engineering firm Gresham Smith & Partners and the Nashville office of the Colliers International real estate brokerage firm.

LifeWay Christian Resources, the publishing arm of the Southern Baptist Convention, is building a headquarters in Capitol View, a mixed-use development at 1100 Charlotte Ave. overseen by Boyle Investment Co.

Edited December 15, 2016 by Andrew_3289

[UTgrad09]

5 hours ago, dmillsphoto said:

Energico Polytonality. 

 

Because @UTgrad09 loves buildings named after music terminology.

Klangfarbenmelodie.

[bmkTN]

Good news!  Now to just hear some more about the towers they'll be building as well.  Maybe we'll get some better idea (hopefully with renderings) by this summer as I would assume the Hyatt would need to start by Fall 2017 to be open in 2019. 

And I'm hoping this coming year will bring us some news on the Tennessean site.  These two sites together have to potential to totally remake the heart of downtown.

[CenterHill]

8 hours ago, MLBrumby said:

Was that area even called Nashville Yards at any time in the past?  Sort of smacks of corporate naming. 

Seems a clear reference to Hudson Yards, a similar, although much larger, reconception of a former rail-centric area.   

I kind of like it, though.  

[titanhog]

[Flatrock]

With the amount of money at stake, you can bet Southwest Value Partners and their  investors will have a marketing machine in place to build a super-slick brand around 'Nashville Yards'. There'll be little room for confusing what they propose with Titanhog's Nashville yard (classic pic). I actually like the name. Usually a good sign when a name emotes good and bad reactions. It's sticky.

[Nashville Cliff]

7 hours ago, CenterHill said:

Seems a clear reference to Hudson Yards, a similar, although much larger, reconception of a former rail-centric area.   

I kind of like it, though.  

Yeah, better than Northeast Gulch.

[markhollin]

Also better than "Uptown" which was one of the ideas they were initially kicking around.

[MLBrumby]

Agreed... I think "Uptown" sounds so country... Like we're goin' uptown on Mundy morn!  Northeast Gulch...SeGul (Seagull) LOL... reminds me of that Southpark episode. 

[Flatrock]

10 minutes ago, MLBrumby said:

LOL... reminds me of that Southpark episode. 

Loved that episode!!

[wmaddbb2018]

All in favor of SoDaSoPa say "aye". 

[dmillsphoto]

Historic Kenny's House...

[wmaddbb2018]

[Dale]

43 minutes ago, MLBrumby said:

Agreed... I think "Uptown" sounds so country... Like we're goin' uptown on Mundy morn!  Northeast Gulch...SeGul (Seagull) LOL... reminds me of that Southpark episode. 

As a Charlottean, I resemble that remark.

Edited December 16, 2016 by Dale

[smeagolsfree]

Well it would be confusing as you would have downtown, then uptown, then midtown in that order going west.

[bigeasy]

2 hours ago, wreynol4 said:

All in favor of SoDaSoPa say "aye". 

As long as we get a Shi Tpa Town!!!

[BnaBreaker]

I get why the developers want to give it a name for marketing purposes, but that doesn't mean we have to call it that.  I mean, this is just a several block area of downtown.  It is a cohesive part of the built fabric.  It doesn't need a special name, does it?  

[titanhog]

1 hour ago, BnaBreaker said:

I get why the developers want to give it a name for marketing purposes, but that doesn't mean we have to call it that.  I mean, this is just a several block area of downtown.  It is a cohesive part of the built fabric.  It doesn't need a special name, does it?  

Depends if they turn it into a specific shopping / destination district.

[markhollin]

I've done some reconnaissance around the Hyatt Regency site that will be part of the Nashville Yards development (former LifeWay Campus). The hotel will be on the plot that once held the LifeWay Bookstore at the NW corner of Broadway and 10th Ave. North (directly across from Union Station).  The dimensions of the site are about 125' wide and about 225' in length (facing Broadway). That means the footprint is essentially the same as that of the Renaissance Hotel.  

Since we don't have any renderings yet, we can only surmise what the mass of the structure might be.  We do know that they plan on 540 rooms, and that they tend to be on the large size, since the Hyatt Regency is known for it's luxurious rooms and suites. They have also stated that there will be 60,000 sq. ft. of meeting space, which would be equal to about 4 levels when taking into the account the sq. footage of the lot. Additionally there will be several top notch restaurants on site.  Since there is no reasonable mass parking available anywhere within a few blocks, it would seem they will need a fairly large garage for the clientele as part of the design.  

As you can see from some photos further down this post, there is about 20 feet of "below grade" space the drops down on the north side of the Broadway viaduct beneath the building.  I think that would most likely be a starting point for a garage.  It's possible they could dig deeper, but apparently there are potential flooding issues in that area of the Gulch that they would have to contend with.  If they build upward from that ground level, it would seem there would need to be at least 6 stories of parking need, because the narrowness of the site would only permit about 4 rows of vehicles per floor. 

So, here are my thoughts on how the height of the Hyatt Regency will play out:

-6 levels for parking (2, maybe 3, below street level of Broadway)

-1 level for lobby, administration, and main restaurant

-4 levels for 60,000 sq. ft. of meeting space

-20 stories for 540 rooms and suites, amenities deck, etc. Much of this is dependant on if it will be one solid mass rising straight up on the entire lot, or if it might be an L or U shape for the units, or perhaps a more slender tower sitting atop a larger base (like The Westin, or Renaissance). It could potentially be even taller. 

Grand Total of 31 stories.  28 or 29 will rise from street level at Broadway.

Will be interesting to see how close or far off I am when details are finally announced---hopefully in the not-too-distant future. 

Looking west at intersection of Broadway and 10th Ave. North:

 

Also looking west, but from the driveway of the Holiday Inn Express on the east side 10th Ave. North:

 

Looking east from the CSX tracks in The Gulch.  The edge of the hotel would be just to the left of the ventilation grates at the far left. Hopefully that billboard will be removed.

 

Looking SE from the tracks

 

Close-up of the below grade height from the Broadway Viaduct down to ground level.  Probably two levels of parking could fit in that depth.

 

Looking north along the western edge of the property from Gulch level underneath the Broadway Viaduct:

 

Looking east with the Broadway Viaduct on the right:

[MLBrumby]

That sounds about right, Mark.  Hyatt Regencys like to go tall as a part of their brand.  That would be a prominent site too... as a 30+/- story tower would be visible from lower Broadway. 

[titanhog]

1 minute ago, MLBrumby said:

That sounds about right, Mark.  Hyatt Regencys like to go tall as a part of their brand.  That would be a prominent site too... as a 30+/- story tower would be visible from lower Broadway. 

Yeah...it appears on maps that some of the highest points downtown stretch from the capital through that area close to Lifeway and over to around where JWM is being built.

[wmaddbb2018]

Any estimate on height?

[Hey_Hey]

My guess based on Mark's thoughts:

4 parking levels above ground, 12' for each level: 48'

Main entrance/lobby level:  25'

4 level of meeting space, 20' for each level: 80'

20 floors of hotel rooms, 10' for each level: 200'

Top level partitions/shielding of equipment: 8'

Grand total: 361' in 29 above ground floors 

Edited January 22, 2017 by Hey_Hey