Ritz Carlton Hotel /Residential (46 stories & 32 stories, 240 rooms, 150 condos, 185 apts,), 560 capacity garage

[smeagolsfree]

The story should be going live any minute but an entity related to the Marriott family is the buyer under an LLC called RC Nashville Development Partners LLC. My guess is that the RC stands for Ritz Carlton. I am unsure is Mainland will still have involvement. 

https://www.bizjournals.com/nashville/news/2020/04/01/d-c-area-developer-pays-35m-for-downtown-tower.html

 

NBJ' s take. I think this is still connected with the Marriott. Tim Morris Is the supposed buyer.

[markhollin]

Tim Morris, via his new RC Nashville Development partners LLC, now owns the 1.4 acre site.  He purchased it for $35 million from Mainland Cos., who had bought it for $9.4 million in 2016. 

From NBJ:

Morris said he envisions a mixed-use development on his newly purchased land. It's anchored at the address of 417 Seventh Ave. S., fronting both Korean Veterans Boulevard and Lafayette Street.

"We’re really early in the evolution of it," Morris said. "We’ve got a vision, and I’m not ready to share what the vision is yet. We've got great zoning that allows for some pretty good density. Our thought was to go ahead and [buy it] and let our plans evolve over the next six to eight months … as we formalize our thoughts."

From The Nashville Post:

RC Nashville Development Partners LLC, an entity that offers an address seemingly once connected to members of the Marriott hotel family.

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2020/04/01/d-c-area-developer-pays-35m-for-downtown-tower.html?iana=hpmvp_nsh_news_headline

 

And behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21125862/developer-sells-kvb-roundabout-site-for-35m

[nashvylle]

$9MM to $35MM... just a 4x multiple. 

[nashwatcher]

GREAT NEWS. Anyone paying $35 million for the land is going to develop something substantial here

[smeagolsfree]

I know more than I did an hour ago and cant say much more, but lets say you guys probably will not be dissapointed.

It will however be a while before this projects starts I am sure of that.

[MLBrumby]

29 minutes ago, smeagolsfree said:

I know more than I did an hour ago and cant say much more, but lets say you guys probably will not be dissapointed.

It will however be a while before this projects starts I am sure of that.

Can you say if it will be taller than the office building proposed at that site (now canceled)?  I believe that was going to be 30 stories before it was bumped down to 25. 

Edited April 1, 2020 by MLBrumby

[smeagolsfree]

That I do not know yet and probably will not for a while as the plans are fuid at this time.

[downtownresident]

Man if we can get this and Circle South, the roundabout will be amazing. 

[markhollin]

Just now, downtownresident said:

Man if we can get this and Circle South, the roundabout will be amazing. 

...and then Tony G. can also do something special with his curved lot on the western edge of the circle.   : )

[MLBrumby]

Here's the website for Academy Development Partners. Must say their body of work is NOT impressive.  Long hoped for a classic granite 50-story tower with 3 segments stepped back (a'la wedding cake) from the roundabout with a V-shaped base from the roundabout. 

http://academydevelopmentpartners.com/development/#1519654296623-86033637-c0cd2afa-81e1

[smeagolsfree]

58 minutes ago, MLBrumby said:

Here's the website for Academy Development Partners. Must say their body of work is NOT impressive.  Long hoped for a classic granite 50-story tower with 3 segments stepped back (a'la wedding cake) from the roundabout with a V-shaped base from the roundabout. 

http://academydevelopmentpartners.com/development/#1519654296623-86033637-c0cd2afa-81e1

It really depends whos money is behind the project.

[MLBrumby]

If it really is a Ritz Carlton, then they won't accept mediocre design/materials. 

[Mr_Bond]

4 hours ago, markhollin said:

...and then Tony G. can also do something special with his curved lot on the western edge of the circle.   : )

I didn't know he owned that little slice of a parking lot!  To me, this information makes the possible Ritz Carlton news even more exciting!

I love this city, and I love UP (on most days)!

[downtownresident]

Here’s a picture of this site from today. 

[Luvemtall]

Does anyone have knowledge of this. Is this real or hoax or just old and not happening.

[smeagolsfree]

Yes, We have been keeping it under wraps for a month and a half. 

I found this a the first part of December and shared it with a number of folks on the board. Not a hoax! This is real. The first building will be Hotel and Condos and the second smaller will be apartments.

The main building will be 42 stories and the other will be 32 stories.

[Skyscrapergeek]

[Andy20]

Targeted opening is Q1 2025. If everything falls into place as they expect, would this probably mean a Q3/4 2022 start based on size and luxury of the buildings?

[smeagolsfree]

I am actually surprised it lasted this long. Its been out there since April.

[Luvemtall]

This is great news! Hopefully we can get hold of this Covid pandemic soon, and investors and developers feel safe to start moving forward. This project, along with Circle South will add a dramatic impact on our beautiful city! 
Tony G , time to build Paramount on your lot here in the circle.  Maybe having  a Ritz will entice to replace Stix with a spectacular fountain with colorful lights.

[titanhog]

1 minute ago, Luvemtall said:

This is great news! Hopefully we can get hold of this Covid pandemic soon, and investors and developers feel safe to start moving forward. This project, along with Circle South will add a dramatic impact on our beautiful city! 
Tony G , time to build Paramount on your lot here in the circle.  Maybe having  a Ritz will entice to replace Stix with a spectacular fountain with colorful lights.

Yeah…if they don’t replace those painted telephone poles with a fountain, they’re crazy.

[smeagolsfree]

We are sitting on a couple of others too just to keep the mystery a foot.

[Luvemtall]

4 minutes ago, smeagolsfree said:

We are sitting on a couple of others too just to keep the mystery a foot.

You always have me sitting on the edge of my chair! Thanks for all you do! Can’t wait to hear what else you have. 

[markhollin]

More details:

- Developers: M2 Development Partners, Armistead Arnold Pollard, Mainland Companies.

- Skidmore, Owens, and Merrill architects

- Projected opening of first quarter of 2025

- $550 million budget

- 42 stories, 32 stories.

- 560 capacity garage

- 240 luxury branded hotel rooms

- 150 condos

- 185+ multi-family apartments

- 10,000 sq. ft. of retail

- 6,000 sq. ft. spa

- 30,000 sq. ft. of meeting space/ballroom

 - Will have LEED and WELL Certifications

Larger, crisper renderings:

[MLBrumby]

From the looks of the shape of the property and the first rendering from the Roundabout perspective, it looks like the hotel building will have a 17-story wing on the south side, up to the first residents' amenity level.