505 CST - 545 feet - 45 Floors

[nashmoney]

It "looks" super tall (taller than batman) from this pic...oh well.

 

Looks like Batty will forever be Nashville's tallest. Maybe there is contract somewhere that the city signed that says the batman building has to be Nashville's tallest for 200 years. That's the only thing i can think of...

 

[CenterHill]

The height was nice but would have cost an extra $75M.   That's playing in a different league of financing.    

 

I'm fine with the redesign and it gets something out of the ground at 505 Church.   A key CBD site that has been vacant way too long.    Let's do it!     

[fieldmarshaldj]

45 stories ? WHUT ? I'm sorry, folks, but this sucks. This location deserves a "Signature" Tower, not another undersized shorty for an appallingly flat skyline. This is a premier location and that a building almost half the height of the original proposal is a slap in the face.

[NikOnder]

Given the massing in the CBD in this area, the added height would have really helped this to have significant impact on the skyline. As it stands, at 550' it should still be pretty dramatic.  Given the lower elevation of the bat man building and the significant percentage of it's height that is spires, this could still "look" like a new tallest, I think.

It's a little disappointing, but if this brings it closer to reality, then why not? 

Edited April 2, 2015 by NikOnder

[dmillsphoto]

The elevation ASL at 505 CST is 607'. It's 512' at the Batman building. This will be the tallest to the eye test.

[Nashville Cliff]

Someone has a solid plan to build a 45 story apartment tower in the heart of the CBD and people are complaining?  Fer reals?

[TNinVB]

Too bad it lost some height, but due to the location and elevation of site I'm sure it'll still look like the cities tallest. Just wish it didn't look so boxy. I guess with all the other projects happening I feel guilty complaining at all. Let this tower rise!!

[BnaBreaker]

Wow...this is the city of let downs.  When it was redesigned the first time from game-changing, world class, self-sustaining, one-of-a-kind skyscraper to this generic box, at least we had the increased height we could hold onto.  Now it's a short generic box.  Yes, sunshine squad, obviously this is better than a parking lot, and for that I'm pleased, but sorry, after originally being promised the bone marrow crusted Wagyu beef Filet Mignon with black truffle butter, I don't think it's unreasonable to experience disappointment in the short-term over getting the fast food dollar menu burger instead. 

Edited April 2, 2015 by BnaBreaker

[Vrtigo]

 

Would have loved to see a more interesting crown now that they are saving some cash on the height.

 

Oh well. Bring on the (shorter) cranes! Let's get it done!

[titanhog]

Now I kinda wish he could go back to the Signature Tower design and build that at 550'.

 

I won't complain about getting a 550' tower in the CBD...but I am disappointed about the height.  It's like someone telling you they're going to buy you a pony and they show up with a mule. 

[rookzie]

I can deal with this "low-down" (as it were), and I am certain that it won't end up being watered down.  I just hope that it does not keep on getting whittled down (to an iKEA-sized runt), but my biggest concern is with Paramount747.  With this, someone needs to check up on him (to protect him from himself; he might have hyperventilated).

-==-

[Hey_Hey]

I am disappointed that we won't have a new tallest, but the height will still stand out. This should have the highest occupied floor of any building in Nashville and the topography will make it feel even taller than it is. Batman has always seemed shorter than it really is because so much of it is the spire.

This sets the stage for additional height to come as it will continue to show the strength of the nashville urban housing demand.

[samsonh]

45 stories ? WHUT ? I'm sorry, folks, but this sucks. This location deserves a "Signature" Tower, not another undersized shorty for an appallingly flat skyline. This is a premier location and that a building almost half the height of the original proposal is a slap in the face.

 

If you can help raise more equity for the project and bear that risk I am certain he would build a higher tower for you!

[fieldmarshaldj]

If you can help raise more equity for the project and bear that risk I am certain he would build a higher tower for you!

 

Hey, man, if I could, I would !

[Guest]

Good for the city. Good for Tony. I'm very happy they are moving forward as the more residences we can get to the center the more it will alleviate our immediate traffic issue while a long term solution is put in place.

People definitely don't understand what it really takes to do a huge project and yes, a 150 million dollar 45 story tower is a huge project for this region. Complain about boxy? Like it or not we aren't Chicago, New York, or even Atlanta with our core district rents yet. This is a financeable successful project and it is far from ugly.

Reality is hard to swallow I guess. This board seems only swayed by skyline, never mind that the person only interacts with the first floor. Our on street environment could use a massive improvement over 90% of the city and this project will be a huge success in doing just that.

Edited April 2, 2015 by Guest

[Neigeville2]

Maybe he's just breaking the news gradually; eventually it'll just be a little tent or pavilion on top of the parking garage.

 

Of course this is better than nothing and it's well past time something got built there, but after the curvy office building with the solar panels and stuff, this is like a tin shed.

[troyboytn]

Disappointing. My prediction...Knoxville will break 618ft first. (btw, I'm being dead serious).

[NashRugger]

That's a very outlandish prediction.

[MLBrumby]

Bring the Sudekum Building back!  Coming in June, Mr. Giarratana will announce that he will build a building that will reach 300' at the corner of 5th and Church. Until something gets built there, nothing is there. 

Edited April 3, 2015 by MLBrumby

[fieldmarshaldj]

That's a very outlandish prediction.

 

Not as outlandish as you might think. Look at Mobile, Alabama of all places. It managed to beat Nashville's then-tallest L&C in height in 1965 (breaking the 400-foot mark), and they outstripped our "Batman" Tower in 2007 with the RSA-Battle House Tower at 745 feet. Knoxville could just as easily pull off a surprise. We broke 400 over 45 years ago, Knoxville has as well. We can't even break 500 feet with occupied floors (excluding Batman's spires). Omaha, Tulsa, OK City, Little Rock, Louisville, et al, all have us beat. Consider we were set to jump to above 1,000 feet with the Signature and we're still stuck.

Edited April 3, 2015 by fieldmarshaldj

[volsfanwill]

my favorite line in the article, "Giarratana has retained the air rights above the parking garage."  

such a tease.

but really, I would have liked a little more but I wont complain.

Ron, get Tony to the meet saturday, maybe we can convince him to add just 5 more floors, to break that 50 floor barrier, and add a nice hat on top. a nice pointy hat.

hmmm. well now that I think about it, with the height of the building and the height of the land it sits on, I wouldnt be surprise if communication antennae end up on it at some point.  so build a s[ire to attach them to!

[UTgrad09]

The height was nice but would have cost an extra $75M.   That's playing in a different league of financing.    

 

I'm fine with the redesign and it gets something out of the ground at 505 Church.   A key CBD site that has been vacant way too long.    Let's do it!     

 

I am definitely disappointed that it is 200' shorter. A tower at that height would have been a game-changer. But yes...there's that extra $75 million to contend with.

 

With 500 units, the average cost is $300,000 per unit. That's reasonable for our market. The next 15 floors would have been units that are in the elite level of housing options for Nashville. I believe the top 6 floors were to be penthouses. The fact may have been that he just didn't have enough commitments from the ultra-high end market to make that a reality. The original proposal was for 630 units....so assuming all things are equal (I'm sure this proposal will still have penthouses and larger units -- but perhaps not as many), then the 15 floors cut 130 units. Those 130 units would cost $75 million, or over $575,000 per unit. That may have just been above the threshold that lenders were willing to risk.

 

 

We also have to consider the timing. Tony essentially has to have this thing ready to go by the time Metro finishes the new garage. $225 million may have been too ambitious for the time frame (and whatever Tony would have had to raise in equity). Could it have happened if he waited? Maybe. I don't know the numbers he's seeing or what the lenders and investors are telling him. It may have just been one of those things where he had to pull the trigger, or risk the entire proposal folding.

 

In the end, I am happy to see something this big take the place of an empty parking lot. While it is a prominent intersection, there are a number of other surface lots that have the potential for something more "remarkable" down the road. We may just see our new tallest proposals move west.

 

 

 

I know it seems like never ending disappointment with all of these proposals that end up getting reduced in height (or grandeur), but at least that says to me that developers are aiming high. We have to remember that this is business, not charity. We have to remember that the market is part of what determines what developers can do. If the market allows for a 750' building, then I'm sure one will be built. I realize most of you are old, and dangerously close to death, so this waiting must be torturous. But take solace in the fact that folks like me, dmills, and aries will be able to realize your dreams.

[UTgrad09]

Also, I don't see Knoxville building anything taller than 300' in the next 10 or so years. Even that is a stretch. 

[CenterHill]

 I realize most of you are old, and dangerously close to death, so this waiting must be torturous. But take solace in the fact that folks like me, dmills, and aries will be able to realize your dreams.

 

I was nodding with everything you said in your post until that last part.     LOL

[rookzie]

I am definitely disappointed that it is 200' shorter. A tower at that height would have been a game-changer. But yes...there's that extra $75 million to contend with.

 

...

...

 

I know it seems like never ending disappointment with all of these proposals that end up getting reduced in height (or grandeur), but at least that says to me that developers are aiming high. We have to remember that this is business, not charity. We have to remember that the market is part of what determines what developers can do. If the market allows for a 750' building, then I'm sure one will be built. I realize most of you are old, and dangerously close to death, so this waiting must be torturous. But take solace in the fact that folks like me, dmills, and aries will be able to realize your dreams.

 

Assuring. (Ron just has to feel the same).  Now I have some closure and can stop tossin' and turnin' at night.  I might have to put you in my living will.

 

I might as well be that "close", as I probably won't live long enough to see my "pipe-us dream-us" of light rail or a Murf' commuter rail or even intercity rail come to reality ─ not around here anyway.

-==-

Edited April 3, 2015 by rookzie