505 CST - 545 feet - 45 Floors

[UTgrad09]

Well could Tony be courting HCA/Sarah Cannon/Parallon? Could this explain the delay in starting WES? Could this be the reason Tony wanted to add 145 feet to the 505 Tower? HCA first talked with him in the 1990's. Could they be back in talks?

 

 

HMMMMMMM.

 

I alluded to that in one of the other threads. It's pure speculation, and I would have to think that someone somewhere would've heard a little birdie talking...but I guess it's plausible. I don't know what HCA's plans are. They have a lot of land where they are...which, if they moved, they could sell or redevelop. WES is certainly a prominent site, but absolutely nothing like what 505 would be (6-750 ft vs ~300 ft). It would be interesting to see a cost comparison. There would certainly be a lot more to brag about in terms of 505 being potentially LEED Platinum, and it's immensely more of a landmark design (unless Duda does something spectacular with the resdesign of WES).

 

It would make Tony a very busy man in 2013/14 if he's doing 505 along with the Marriott and SoBro. That would be about a half billion in construction from just his projects. Could he pull that off?

 

It would also be devastating for Palmer. I honestly don't know what he could do after that. He couldn't build it as spec. And at some point the city is going to tell him he has to do something with the hole.

 

I'm honestly a little torn. I don't want to see Palmer destroyed over this, and I don't want to see a lake there on Broadway for an indefinite period of time...but I really, really want to see 505 get built.

[nashvylle]

It is very hard for any developer to do multiple buildings at once. Why? because banks want collateral, and a developer only has so much. Even if 505 CST was fully leased, TG has to have collateral to back it, has to have ample liquidity, and a total net worth. 

 

I don't think we wills see 505 for a few years. Patience is a virtue. 

[UTgrad09]

It is very hard for any developer to do multiple buildings at once. Why? because banks want collateral, and a developer only has so much. Even if 505 CST was fully leased, TG has to have collateral to back it, has to have ample liquidity, and a total net worth. 

 

I don't think we wills see 505 for a few years. Patience is a virtue. 

 

That's what I was thinking. There's so much on Tony's plate right now, it would be hard to do it all at once. 

 

And trust me, I'm probably one of the more patient people on this board.

[gannman]

My dream would be to put Parallon and SCRI in WES now. I think part of the appeal to WES is that it has two towers so that each company can have their own signage and separate identity. Once WES is built, then move HCA to 505 CST. Hopefully, by this time Tony should be completed with some of his projects. I'm not sure how much square footage HCA takes up at their current campus, but I'm sure they could fill most of the building. Would they need the 750ft version or would the ~600ft as planned suffice?

Edited August 12, 2013 by gannman

[MidTenn1]

I kinda see HCA building a couple of 25 story buildings on the empty lot on Charlotte across the tracks from their current HQ to house a new HQ at some time. I have no inside information, it would just seem to make more business sense on their part.

 

The story behind the rejection of the downtown, 50 story building some years ago involved a Frist family (re) takeover of the company at that time and applying a more 'conservative' approach toward HQ growth and image. I think the same management approach still applies, hence no 'garish' presence on the skyline.

 

Edited August 12, 2013 by PHofKS

[mirydi]

Well, this is the biz journal's main article as of right now. 

 

http://nashvillepost.com/news/2013/8/12/faa_oks_increased_height_for_proposed_downtown_skyscraper

 

 

FAA OKs increased height for proposed downtown skyscraper

505 CST could now rise 750 feet

 

That's all it say's unfortunately.

 

Edit: Sorry I meant Nashville Post

Edited August 12, 2013 by mirydi

[arkitekte]

So what all can we really take from this?

 

1. Tony G. has something lined up; therefor the need for more space in the tower.

 

2. Tony G. doesn't have anything particular lined up, he is just trying to generate news by requesting and being granted a taller tower.

 

3. A previous Tony G. proposal (or what's left/ a portion of a previous proposal) is now going in 505. 

 

I don't think he would just randomly ask for the height limit to be granted up to 750' for the hell of it, but who knows. 

[UTgrad09]

So what all can we really take from this?

 

1. Tony G. has something lined up; therefor the need for more space in the tower.

 

2. Tony G. doesn't have anything particular lined up, he is just trying to generate news by requesting and being granted a taller tower.

 

3. A previous Tony G. proposal (or what's left/ a portion of a previous proposal) is now going in 505. 

 

I don't think he would just randomly ask for the height limit to be granted up to 750' for the hell of it, but who knows. 

 

I would say it's between 1 and 2, with a definite lean towards 2. He might have something in his sights, but I doubt it is lined up. The increase in potential height is probably to expand the market making sure the tower is large enough for even some of the biggest corporate relos.

[mirydi]

I would say it's between 1 and 2, with a definite lean towards 2. He might have something in his sights, but I doubt it is lined up. The increase in potential height is probably to expand the market making sure the tower is large enough for even some of the biggest corporate relos.

You really think Tony would petition the FAA for a height increase to 750ft just for publicity? I guess while possible, I'm thinking there is something going on behind the scenes that we're not aware of. I think something is up, and not just the height of this tower...

[nashvillwill]

While I would guess this is leaning more towards option #2, I will say that this project seems to have a little buzz going. It was announced, what, 2-3 years ago? It seemed like it would die a slow death, but I think Tony hasn't thrown in the towel quite yet. Personally, I love this building. I hope to see this get built, much more than I ever did Siggy.

[UTgrad09]

You really think Tony would petition the FAA for a height increase to 750ft just for publicity? I guess while possible, I'm thinking there is something going on behind the scenes that we're not aware of. I think something is up, and not just the height of this tower...

 

I don't think the FAA 'petition' is really as big of a deal as some make it out to be. Basically, commercial planes shouldn't be flying directly over downtown in the first place. They would just have to reroute traffic a half mile or so north or south...if they really even need to do that.

 

Don't get me wrong, I hope something is up...but arkitekte's theories are plausible as well. By doing this, it renews interest in his tower...keeps it on the public mind...and keeps it marketable. 

 

I'm just not going to get too worked up over it right now. I'd say the tower as it is, is somewhat of a long shot. It's not a pipe dream...but it really does require a big time tenant to happen. And it might happen soon, or it might take 5 years or more. The key is to be patient.

[UTgrad09]

While I would guess this is leaning more towards option #2, I will say that this project seems to have a little buzz going. It was announced, what, 2-3 years ago? It seemed like it would die a slow death, but I think Tony hasn't thrown in the towel quite yet. Personally, I love this building. I hope to see this get built, much more than I ever did Siggy.

 

I thought Siggy was a good design, but I didn't feel it was anything special, other than the incredible height. This, from a design perspective, would set us apart from a lot of other cities, and would really be unique to Nashville...or at least put us in the 'cutting edge' category for architecture. It would be a nice change to be on the front end of a trend for once.

[BnaBreaker]

I thought Siggy was a good design, but I didn't feel it was anything special, other than the incredible height. This, from a design perspective, would set us apart from a lot of other cities, and would really be unique to Nashville...or at least put us in the 'cutting edge' category for architecture. It would be a nice change to be on the front end of a trend for once.

 

Agreed.  This would truly be a one of a kind tower.  It's like nothing else in the world.  Even buildings like Devon Tower in OKC or BoA tower in Charlotte, while beautiful in their own right, are very similar looking to other towers that are out there. 

[mirydi]

I don't think the FAA 'petition' is really as big of a deal as some make it out to be. Basically, commercial planes shouldn't be flying directly over downtown in the first place. They would just have to reroute traffic a half mile or so north or south...if they really even need to do that.

 

Don't get me wrong, I hope something is up...but arkitekte's theories are plausible as well. By doing this, it renews interest in his tower...keeps it on the public mind...and keeps it marketable. 

 

I'm just not going to get too worked up over it right now. I'd say the tower as it is, is somewhat of a long shot. It's not a pipe dream...but it really does require a big time tenant to happen. And it might happen soon, or it might take 5 years or more. The key is to be patient.

I guess we will find out sooner or later. The thought of this tower going up in Nashville makes me feel all warm and fuzzy inside. I love this tower! I would probably be crushed if this turned out to be another signature tower.

 It would be a nice change to be on the front end of a trend for once.

This.

[mirydi]

Agreed.  This would truly be a one of a kind tower.  It's like nothing else in the world.  Even buildings like Devon Tower in OKC or BoA tower in Charlotte, while beautiful in their own right, are very similar looking to other towers that are out there. 

Both of those towers are towards the top of my imaginary favorite tower list. Actually, Charlotte has two towers on my list. The Duke Energy tower is another. That tower looks epic lit up at night, as does Devon. Lucky beotchs lol!

[MLBrumby]

I think Devon is a far more attractive building than both Duke and BofA are. That building is simply art!

[mirydi]

I think Devon is a far more attractive building than both Duke and BofA are. That building is simply art!

If I could choose just one to be built here than yeah my choice would be Devon. It's size/cladding/lights ect, are amazing. But the BofA and Duke are no slouches. Those tower's are gorgeous and are beasts as well. If 505CST got built and it was 750ft tall, I would put it up against any of those said towers any day of the week. 

 

Tony if your reading this, please build 505CST...

[smeagolsfree]

Tony says find me a tenant. Wish we could say build it and they will come, but we are not that lucky.

[MLBrumby]

Yes... but then again, that makes things like the UBS move to downtown this week such positive news.  They're growing, they'll be moving from Harding Place and I-24 area, and they're willing to make the commitment to downtown for more than 1/7 of an empty tower.  It's not the same thing as a new relo to Nashville, but you have to have those local moves to fill up space downtown and build the critical mass.  Will 505 CST happen?  I don't know... but it wouldn't just happen without coincidental growth in the overall market.  

[mirydi]

Another article talking about the FAA approval for height increase. This one say's that the FAA approved it to reach 770ft. Anyways, here is the article.

 

http://www.bizjournals.com/nashville/morning_call/2013/08/giarratana-gets-faa-ok-to-build.html

The Federal Aviation Administration has granted additional air space for Tony Giarratana's proposed 505 CST tower downtown, Nashville Post reports.

Giarratana Development unveiled plans for a 605-foot mixed-use tower at 505 Church St., where Giarratana once planned his Signature Tower, in 2011.

According to the Post, the FAA has approved enough air space to allow the proposed tower to reach 770 feet tall. For comparison, downtown's tallest structure, the AT&T Building, reaches 617 feet.

 

[chris holman]

I almost dont see why the FAA wouldn't approve the hight , they approved signature tower , at the time the proposal was on the table at over 1000ft.

[mirydi]

I almost dont see why the FAA wouldn't approve the hight , they approved signature tower , at the time the proposal was on the table at over 1000ft.

That does seem kind of ridiculous doesn't it? I honestly don't see why it makes a difference or why someone needs FAA approval anyhow. I mean it's not exactly like planes are flying around all over the ciy at altitudes anywhere near 1000ft anyway.

 

Everytime I fly out of Nashville by the time we get anywhere close to downtown we are so high up it's not even close. 

Edited August 13, 2013 by mirydi

[nashvillwill]

I'm guessing there is a very simple reason for the permit. Tony had to submit a permit by law. With this permit, I'm sure there was a permit fee paid directly to the FAA. Check cashed, stamped and approved.

[mirydi]

This isn't really 505CST related, but the last sentence of this article goes to show you just how little office space is available, and why if a large company wanted to relocate here there isn't really anywhere for them to go. All the more reason that 505CST has a good chance of getting built, and should be.

 

http://www.bizjournals.com/nashville/blog/2013/08/franklin-american-mortgage-company.html

 

"I don't think there is any place out there that you can get 70,000 feet right now,"

 

While he could be talking about just in the Franklin area, I'm pretty sure that goes for downtown as well. There just isn't any large space available right now for a company to relocate it's headquarters here. Kind of hard to get companies to move here when there isn't enough space to suit there needs.

Edited August 15, 2013 by mirydi

[bwithers1]

This isn't really 505CST related, but the last sentence of this article goes to show you just how little office space is available, and why if a large company wanted to relocate here there isn't really anywhere for them to go. All the more reason that 505CST has a good chance of getting built, and should be.

 

http://www.bizjournals.com/nashville/blog/2013/08/franklin-american-mortgage-company.html

 

While he could be talking about just in the Franklin area, I'm pretty sure that goes for downtown as well. There just isn't any large space available right now for a company to relocate it's headquarters here. Kind of hard to get companies to move here when there isn't enough space to suit there needs.

Well, UBS apparently just found 90,000 SF at the old Regions center and are taking up only a small part of that building.  If the new buyers of the Regions building are truly set on repositioning that building, they could have that gut rehab done long before Tony's building would get off the ground to open up new office space inventory.