Buckingham Gulch Tower 38 Floors, 450+ ft., 345 residential units, 4,900 sq. ft. retail

[Flatrock]

Dangit! This thread is the worst click bait. Every new comment, I can't help but look...even knowing the project is likely a ghost. I guess one can hope....and be grateful for all the amazing development we've been blessed with. 

[BnaBreaker]

34 minutes ago, Flatrock said:

Dangit! This thread is the worst click bait. Every new comment, I can't help but look...even knowing the project is likely a ghost. I guess one can hope....and be grateful for all the amazing development we've been blessed with. 

Click here to see 27 Amazing photographs of birds...number 14 had me crapping me pants!!!

[UTgrad09]

2 hours ago, smeagolsfree said:

I was referring to the amount of time that has gone by. 

Again, though, we're approaching 2 decades on that pipe dream, while most pipe dreams that don't come to fruition are gone and forgotten within 5 years.

I'm not trying to argue with you as much as I'm saying WES is a special case. Something we will talk to our grandchildren about as a cautionary tale against being a stubborn asshole.

[markhollin]

Seeing that Buckingham Aertson is just now opening in Midtown, there are 350 condos to fill there before they're going to want to move forward with the tower in the Gulch. Some folks have already started moving in, and from what I heard from a source, they have about 15% of the units on 21st Ave. committed at this point.

[wmaddbb2018]

3 minutes ago, markhollin said:

Seeing that Buckingham Aertson is just now opening in Midtown, there are 350 condos to fill there before they're going to want to move forward with the tower in the Gulch. Some folks have already started moving in, and from what I heard from a source, they have about 15% of the units on 21st Ave. committed at this point.

None of those are condos, all apartments just FYI.

[markhollin]

I was told by someone who works there that they are all now condos.  Interesting.  

[samsonh]

1 hour ago, markhollin said:

I was told by someone who works there that they are all now condos.  Interesting.  

Nope definitely apartments. Converting to condos is a big deal for developers and there would be tons of news about this conversion(like 1212)

[smeagolsfree]

Some folks are clueless as to what the difference is between a Condo and a Apartment. It is a fine line. In NYC, some folks refer to buying an apartment and not a condo. I think everyone on here know what is meant by a condo vs apartment.

[markhollin]

Interesting tidbit in Tennessean article today on apartment rental prices leveling out in Nashville right now:

Buckingham Cos. doesn't have immediate plans to start a project on a 0.48-acre site at 701 12th Ave. S. in the Gulch for which the developer has a special exception that allows for a 38-story residential tower.  "We understand the limitations imposed on us by the zoning approval, but we're not going to make a decision prematurely," Scott Travis, senior vice president of development with the developer of Aertson Midtown said, referring to a deadline to obtain building permits. 

[titanhog]

2 hours ago, markhollin said:

Interesting tidbit in Tennessean article today on apartment rental prices leveling out in Nashville right now:

Buckingham Cos. doesn't have immediate plans to start a project on a 0.48-acre site at 701 12th Ave. S. in the Gulch for which the developer has a special exception that allows for a 38-story residential tower.  "We understand the limitations imposed on us by the zoning approval, but we're not going to make a decision prematurely," Scott Travis, senior vice president of development with the developer of Aertson Midtown said, referring to a deadline to obtain building permits. 

Well...that stinks.  Was hoping the deadline may nudge them to go ahead with this.

[BnaBreaker]

Well, at least they haven't pulled the plug on it or anything.  Just being cautious. 

[MLBrumby]

I believe a major deadline for approved zoning is coming up next week for this one. If a permit is not issued by October 15, zoning reverts back to its original 20-story limit.  

From the Buckingham site.

http://www.buckingham.com/developer-nears-key-deadline-38-story-gulch-skyscraper

[MidTenn1]

5 hours ago, MLBrumby said:

I believe a major deadline for approved zoning is coming up next week for this one. If a permit is not issued by October 15, zoning reverts back to its original 20-story limit.  

From the Buckingham site.

http://www.buckingham.com/developer-nears-key-deadline-38-story-gulch-skyscraper

From the article..."...a more slender building, at 450 to 475 feet tall...."

I didn't realize it could be up to 475'.

 

Edited October 9, 2017 by PHofKS

[titanhog]

With just a few days left, I'd assume this is dead for the time-being.  They'll have to start over if they want to build something similar in the future.

[urbanplanet17]

Given how far we're into this economic expansion cycle, it's becoming very hard for investors to get financing for these projects (Bank of the Ozarks is pretty much the only place backing them now).

So it's safe to assume most residential-only projects of this scale that have been proposed will probably remain in limbo.

[Mr_Bond]

This is a sad day for Nashville.  That building would have been a wonderful addition to the skyline!

[MLBrumby]

I have not heard that this is officially dead. Any word from Buckingham? They always said they would need to finish the Aertson first and it's probably not been 6 months. 

[titanhog]

I just hope if they decide to place this back on board, they'll still attempt the same building.

[Pdt2f]

Was their financing for this ever solidified? As someone mentioned in another thread there aren't many lenders that are active right at the moment, and I would think it would be hard to secure the money for another residential project of this magnitude in the core. Maybe they're waiting for a certain capacity to be reached with Aertson before they get moving. 

[ariesjow]

Start of proposed Gulch project placed on indefinite hold

Quote

Indianapolis-based Buckingham Cos. has put on indefinite hold its development of a 38-story mixed-use tower in The Gulch, Nashville Business Journal reports.

The triangle-shaped parking lot on which the tower had been eyed is located at the southwest corner of the intersection of Division Street and 12th Avenue South.

In mid-October 2015, Buckingham won approval from the Metro Board of Zoning Appeals. That permission was valid up to two years shelf life but has since lapsed, NBJ reports. The company did not seek to obtain building permits during the timespan.

The project met with some opposition, as some residents of Terrazzo, Icon and Twelve Twelve argued the tower would block their views. Buckingham undertook sunlight studies and agreed to various conditions and changes so as to work with the opposition.

 

[Binbin98]

This doesnt really surprise me actually, when developers try to do two projects at once it usually backfires. I actually kind of hope this project dies and another developer takes the spot with a tall office building or something, that's really what the Gulch needs right now, not residences. I just don't want to see this become another west end summit lol

[LA_TN]

They own the property. It took years for them to start Aertson (we all thought it was dead). So, I am not concerned at this point

[Buildtall]

Maybe this can get started now with Amazon coming.  

[MLBrumby]

Unfortunately, not without another fight over height...the variance expired months ago. It's a strange shaped lot, and only something tall would make it worthwhile. So the developers may go for it again.

[LA_TN]

I thought about this earlier, also...