River North, 105-acre Cowan Street corridor, Phase One: five 4-7 stories, 650 residences, 85 K sq. ft. retail, 50 K sq. ft. office, mile long riverfront park; Phase Two: two 12 story office buildings, pedestrian bridge across river

[markhollin 97772]

Monroe Investment Partners, based out of Chicago, continues to expand the massive footprint of their planned mixed-use development on the NE side of the inner belt, covering 105 acres in the Cowan Street corridor along the eastern side of the Cumberland River.

Initial concepts include 2,000 apartments & town homes, 1.9 million sq. ft. of office space, a restaurant/entertainment zone, public green space along the riverfront, and docks for water taxis.  Approximately nine 12-story buildings, four 8-story buildings, six 10-story buildings, existing Soundcheck warehouse, and 5 ponds. Plans, however, are quite flexible.
 

http://www.tennessean.com/story/money/real-estate/2016/08/10/chicago-investor-buying-45-more-acres-near-topgolf-complex/88517932/

http://www.bizjournals.com/nashville/news/2016/08/10/chicago-investor-buying-another-swath-of-east-bank.html

http://www.bizjournals.com/nashville/blog/real-estate/2015/02/exclusive-massive-project-envisioned-for.html

http://www.nashvillepost.com/home/article/20481820/any-redevelopment-of-our-60-acres-will-happen-organically

http://www.tennessean.com/story/money/real-estate/2015/02/17/landowner-envisions-apartments-entertainment-zone-near-riverfront/23587743/

Monroe Investments map 2, Aug. 2016.pdf

 

 

Monroe Investments map 2, Aug. 2016.pdf

[markhollin 97772]

Monroe Investment Group also purchased the 2.4 acres immediately to the north of Nissan Stadium between Woodland and Main Streets in July of 2015:

http://www.tennessean.com/story/money/2015/07/17/chicago-investor-pays-east-nashville-site/30306729/

[BnaBreaker 9393]

I know that according to some we're supposed to just be happy with whatever development we get, but I absolutely despise this plan.  I realize it's only in the preliminary stages of planning, but nonetheless it is extremely troubling to me that the initial leanings of the developer are to go with a suburban office park style development complete with freaking retention ponds.  That cannot be allowed to happen like this.  

Edited August 10, 2016 by BnaBreaker

[claya91 1042]

Cowan St?? Good luck finding flood insurance for that magnitude of risk.

[fieldmarshaldj 2086]

8 hours ago, claya91 said:

Cowan St?? Good luck finding flood insurance for that magnitude of risk.

As far as I know, I don't believe that area ever had substantive residential (let alone commercial) development (despite proximity to downtown) since the city was founded.

[angelawitts 0]

Is it really true? I don't believe either. 

Edited August 11, 2016 by angelawitts

[smeagolsfree 19510]

It was all under water all the way to the Interstate during the flood of 2010.

One way around this is to elevate the land or build the buildings on pedestals. This could open up the area's close to the river for green space too.

[UTgrad09 4435]

Pedestals are exactly what I was thinking. 

[titanhog 15663]

Ok...WOW!  If this ever comes to fruition, it would be HUGE.  However, I have to think this render is a "best-case scenario," unless someone knows something more.  Still, a good sign for future development across the river.

The biggest property owner on Nashville's East Bank is eyeing a spring start to construction of what eventually is expected to be a 105-acre mixed-use development that's being called River North.

Chicago-based Monroe Investment Partners LLC plans to begin the work with a 40-acre first phase called The Landings at River North planned just north of the Kelly Miller Smith Memorial Bridge near where Jefferson Street becomes Spring Street. The overall River North Development District will span 125 acres, including where the Topgolf sports entertainment complex is rising.

http://www.tennessean.com/story/money/real-estate/2017/01/10/name-plans-unveiled-huge-project-cumberland-rivers-east-bank/96355154/

http://www.bizjournals.com/nashville/news/2017/01/10/massive-river-north-project-could-juice-east-bank.html

[Nashville Cliff 1395]

I'm almost as excited about the planned Cleveland and Grace Street connectors over I-24 and the planned pedestrian bridge across the river as I am about the mixed used aspect.

[smeagolsfree 19510]

Told you all to stay tuned. I knew most all would like the proposal.

 

 

[dmillsphoto 3681]

4 minutes ago, Nashville Cliff said:

I'm almost as excited about the planned Cleveland and Grace Street connectors over I-24 and the planned pedestrian bridge across the river as I am about the mixed used aspect.

I know right? Having a second pedestrian-dedicated bridge would be awesome. That said, great vision. I'm not holding my breath on this coming to fruition any time soon.

[titanhog 15663]

Just now, smeagolsfree said:

Told you all to stay tuned. I knew most all would like the proposal.

 

 

I guess the question I have is what parts are for sure happening soon...and what parts are just their vision of what they hope happens if businesses relocate...hotel developers want to build...or apartment / condo developers want to build?

Btw...I would think this could possibly give some businesses that are looking at Cool Springs a reason to think twice.

[Nashtitans 1246]

Been awhile since we had a 20+ tower announcement...

 

But that bridge and riverfront tho

Edited January 10, 2017 by Nashtitans

[markhollin 97772]

Nashville Post's take on the announcement:

http://www.nashvillepost.com/business/development/article/20848542/start-looms-for-first-phase-of-massive-riverfocused-project

Really like this portion:  "As part of the overall development, Monroe Investment Partners will donate almost 50 acres of River North property to Metro Government for the development of a riverfront greenway system, interior site public parkland, roads and common areas."

Eventually, we are going to have one of the more beautiful downtown riverfronts (on both sides!) in the nation. It is very easy to imagine the parks stretching from the I-65/40 overpass in the north all the way down to the I-24 overpass on the southern end. Who woulda thunk it just 15 years ago?   Makes me very proud of what is going to transpire in the next 15 years to complete this amazing transformation of the Cumberland River from a dingy industrial tool to a gorgeous asset.  

[smeagolsfree 19510]

Now that everyone has had a chance to see this, let’s just talk reality. I do not mean to burst the bubble or ruin everyone’s high, but is this a feasible project?

 

What the rendering represents is just phase I which looks to have at least a dozen high-rise buildings. Can these be built and filled in a reasonable amount of time? The developers must get financing on each one of the towers, office tenants, hotel operators, etc. I have my doubts. Don’t get me wrong, I love the project, but this is ambitious even for a city like Dallas, Houston, or even Chicago.

 

The build out for a project would be multiple decades, IMO, even if everything is built.

 

Will this detract from Downtown, the Gulch, and Midtown?

 

I just want to play devil’s advocate and get some discussion going as this will be a huge topic on this board for years and years to come.

[titanhog 15663]

^^That's my question, as well.  I don't see anything close to that density happening soon unless Nashville suddenly lights it up like Atlanta did in the past.  However...I think it's a good alternative to Cool Springs for some...but it certainly will take away from DT / Sobro that way, too.  As long as the city will allow some height there (more than the current 15 stories)...it's good to know we have another area ready to go for those looking at the inner loop.

[dmillsphoto 3681]

Humble opinion - no it's not feasible. Number one reason being this is all flood plane land. Number two is, as mentioned, the time to fill and overall scope. It's a lot.

[Nashtitans 1246]

They said they're eyeing a spring start for construction??

 

[titanhog 15663]

10 minutes ago, dmillsphoto said:

Humble opinion - no it's not feasible. Number one reason being this is all flood plane land. Number two is, as mentioned, the time to fill and overall scope. It's a lot.

I have a feeling it will be a development that starts with one "taker" in the beginning...and that first development will help drive the future "look" of the area.  In other words...let's say someone like Toyota said, "we want to place our new North American HQ in middle TN...and we're looking at Nashville or Cool Springs...and right now we're liking Cool Springs because of the campus-style structure we can build."  Well...the city and the developer may decide to allow Toyota to build their "Cool Springs" type development on this land (not that I would like a campus-style HQ built in the core...just sayin').  Something like that could totally change the way this development goes.

I have a feeling this is very similar to a developer just buying land and getting everything ready and then waiting for people to come along and either buy a plot of their land or have them build a structure on the land for them.

7 minutes ago, Nashtitans said:

They said they're eyeing a spring start for construction??

 

I'm thinking they're just talking about getting the land ready...and maybe making some early infrastructure changes.

Edited January 10, 2017 by titanhog

[LA_TN 6842]

Big dreams.

[markhollin 97772]

I think it is feasible if only looked at over a very long term.  I'm pleased with the donation of 50 acres of land along the riverfront and a few other parkland/common areas as part of the initial plan. The marina will be a big plus as well with the start-up phase. It may only be a couple of more modest structures initially.  I'm thinking the roll-out will be similar to The Gulch with a primary developer, but many tracts developed by others within the overall footprint as time goes by over several decades. 

BTW, here's a pic I shot 9 months ago from where Cowan Street currently curves near the riverfront on what would be the northern third of the development.  This spot is where one of the planned vehicular bridges will head east over to G-Town river is in the plan. That hulking brick structure on the other side of the Cumberland is the Neuhoff Packing Plant, which will hopefully also be set for a wonderful redevelopment in the next several years, alongside the Hammer Mill mixed-use plan just to it's right. There will be some lovely views of downtown from all along these River North properties.

 

[Flatrock 1358]

Re: River North - I think I expected a pseudo-suburban low/mid-rise office park kinda situation. Seems I was off a bit. 10-15 year vision with that kind of scale, I reckon. Wow, indeed. Rock on. 

[wmaddbb2018 1385]

I share some of the sentiments of some on the board.  I am hopeful this will be a game changer, but the idea of doing 10+ 10-12 story buildings sounds incredibly ambitious for any city in America including NYC or LA.  I mean this is literally like building a whole downtown for almost any city in America, it's very very ambitious.  But who knows maybe I'm just wrong, and I hope I am.  

[CenterHill 4334]

Impressive for sure.    I love it for the very reason that it provides an alternative to Cool Springs for corporate relocations.   I could see it growing out gradually and deliberately over 10-15 years, much like the Gulch.

But, the floodplain issue is very real.    Owners have to insure these developments and that's an enormous amount of investment to put in an unprotected floodplain.    This shot from the 2010 flood shows what happened to this very property.