Peabody Union (27 story residential, 354 units, 251,000 sq. ft. office, 50,000 sq. ft. retail), Peabody Plaza (9-story, 280,000 sq. ft. office), & 4 smaller buildings, MDHA Trolley Barn sites

[downtownresident]

So we’ve gone from SoBro to LoDo(lower Downtown). 

1 minute ago, smeagolsfree said:

Well, that is new and the first I have heard of Rob Lowes project there. He is planning a project for a something long term. Time to reach out to him. Last time WW reached out to him was a little before the end of the year when there were markings on the property corners, and he said there was nothing planned yet. I guess he sort of didn't know these things get released in the mix when you mention stuff to Metro!

It honestly looks like a placeholder. It looks like they copied the Tishman Speyer placeholder over that lot, as well as the CB Ragland lot. 

[smeagolsfree]

They also have a placeholder on lot J at 1st and KVB.

[nashville born]

@titanhog Google maps shows the Bode as an existing small either residential or hotel type structure.  Perhaps they're speculating on the lot's future development.   Hopefully, the same goes for the Lot J item.  I'm with you on this massing depiction.  Clearly they weren't too concerned with accuracy.  I hope Lot J is a LOT taller.

[PaulChinetti]

https://www.bode.co/downtown-nashville-hotel

Pretty cool rehab of an old apartment. 

[markhollin]

Starting to get a bit of depth in excavation.

Looking north from patio of Peabody Union:

Looking NE from intersection of Peabody St. and Lea Ave:

Looking north from intersection of Peabody St. and Lea Ave:




Looking north from Peabody St., just east of Crockett St:

[lmc123]

3 hours ago, markhollin said:

Starting to get a bit of depth in excavation.

Looking north from patio of Peabody Union:

Looking NE from intersection of Peabody St. and Lea Ave:

Looking north from intersection of Peabody St. and Lea Ave:




Looking north from Peabody St., just east of Crockett St:

Are they going down for a multi level parking garage?

[Bark At The Sun]

[markhollin]

Plenty of blasting and excavation.

Looking south from KVB at Rolling Mill Hill Greenway:

Looking SW from KVB at Rolling Mill Hill Greenway:




Looking NE from intersection of Peabody and Lea:




Looking north from Peabody, 1/4 block west of Lea:

[Bark At The Sun]

[VSRJ]

I find it irksome that they couldn't find some way to keep the greenway open during construction...I miss not having to cross KVB to get downtown.

[markhollin]

Hensler-Stiles has landed a $247 million loan for ongoing construction costs of Peabody Union.  The overall cost of the project has been increased to an estimated $300 million. A fall 2024 completion is planned.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/notes-four-seasons-hotel-to-open-in-september/article_8a1dfa4c-f956-11ec-ad33-6bdc5379c77d.html

[Rick Dalton]

Large loan 

[MLBrumby]

The price of delaying this one by 4 years… yikes!

[jjbradleyBrooklyn]

42 minutes ago, MLBrumby said:

The price of delaying this one by 4 years… yikes!

Happy it's still a "go," despite the big increase! Speaks to how good of an investment building highly visible, large-scale skyscraper developments in Nashville really is. 

If this development was in a lukewarm market, and considering the looming chatter of a "recession," it would no doubt be shelved for "better economic conditions" is my guess. 

Thankfully, Nashville is red hot and is one of the best markets in the US right now to build and invest in. 

Edited July 1, 2022 by jjbradleyBrooklyn

[Rick Dalton]

It’s probably still a go because they got a ridiculous (irresponsible) deal on the land. Should’ve sold for much more.

[Bos2Nash]

I mean if we are being realistic $300 million is really not that much for a project this size in a market like we currently are in.

For reference, Haven in the Gulch reportedly cost $100 million. 

[Bark At The Sun]

[markhollin]

Developer Ray Hensler has started referring to the area south of KVB and  nearer to the river as lower Downtown or "LoDo." 

In regards to the Peabody Union, Hensler said he sees the project as an option for people who want to escape the hustle and bustle of Lower Broadway.

No office tenants have been finalized. CBRE Inc. brokers say they’re looking for a “whale,” or a tenant who wants to lease all or most of the space. They’re being selective, too.

“We're not in a hurry. We've got patient capital, and we feel like we're focused on a good strategy,” Hensler said.

That goes for retail, the project’s main driver, too. There are two spaces specifically for restaurants, one of them two stories, and Hensler hasn’t found the right concept yet.

“We really want to just let this thing marinate a little bit and get a little bit more construction behind us,” Hensler said.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/07/07/lodo-hensler.html

Some updated renderings:

 

[UrbanWes03]

An absolutely gorgeous project. So much activation and the plazas and rooftops are such a great touch! Wasn't REI rumored to be a tenant in this? Really rooting for that if so as that would be a really nice catch!

[titanhog]

Do we really need to name another section of SoBro as LoDo?

[Skyscrapergeek]

Seriously, LoDo???? And I thought Pie Town was goofy.  Actually shouldn’t it be LowDown?

[Rick Dalton]

Looks great

[thenorthchannel]

Hensler still indicating residences will be apartments for rent vs condos for sale?

[TNinVB]

As it moves further south, it’ll be LoLoDoToSoOfSoBro for short. 

[donNdonelson2]

To keep with the theme of Music City, we need a clump of neighboring communities consisting of Do Re, Mi Fa, So La,

 Ti Do! 

 

(image from letsplaykidsmusic.com)

Edited July 8, 2022 by donNdonelson2