Inner Loop - CBD, Downtown, East Bank, Germantown, Gulch, Rutledge

[markhollin]

^ ^ ^  
As far as I understand, the parcel in the lower left corner (SW) that borders on 5th and Peabody is still unaccounted for, correct?  You have  the Marriott Tri-Brand on the NW corner, the Joseph on the NE corner, and the Holiday Inn on the SE corner.   Any rumors about that SW site…or will it have parking garage for the Tri-Brand?

Agree with you completely, MLBrumby, on realigning some of the streets like Peabody, Lea, and Elm.  

[Paramount747]

Nice design! I hope this is built!

[MLBrumby]

Possible number of rooms on that block...  983

300 unit Joseph Hotel

204 unit AC Hotel by Marriott

126 unit Residence Inn by Marriott

125 unit SpringHill Suites by Marriott

228 unit Holiday Inn

Almost 23% more than the Omni. 

[CenterHill]

2 minutes ago, MLBrumby said:

Possible number of rooms on that block...  983

300 unit Joseph Hotel

204 unit AC Hotel by Marriott

126 unit Residence Inn by Marriott

125 unit SpringHill Suites by Marriott

228 unit Holiday Inn

That's impressive for one block, to say the least.    

I'm normally not a fan of the parking pedestal model, but I understand the infrastructure logistics at work here.   Pizzuti has done a great job with the design. 

[Hey_Hey]

Add to that the rooms at the Westin (400), Omni (800), HGI (200), Hyatt Place (255), and Hampton (I'll guess 200 rooms) and there will be close to 3000 rooms along KVB. 

[nvestnbna]

On November 24, 2015 9:22:59 PM, MLBrumby said:

I know this was referenced in earlier articles about other properties downtown... Getahn Ward has the scoop in the Tennessean... http://www.tennessean.com/story/money/real-estate/2015/11/24/preservationist-prestons-son-suitor-sobro-block/76342438/ 

My research tells me this warehouse was built in 1962 and sits where the old Gerst Haus brewery stood.  Can anyone confirm? 

That is correct.

[nvestnbna]

5 hours ago, markhollin said:

^ ^ ^  
As far as I understand, the parcel in the lower left corner (SW) that borders on 5th and Peabody is still unaccounted for, correct?  You have  the Marriott Tri-Brand on the NW corner, the Joseph on the NE corner, and the Holiday Inn on the SE corner.   Any rumors about that SW site…or will it have parking garage for the Tri-Brand?

Agree with you completely, MLBrumby, on realigning some of the streets like Peabody, Lea, and Elm.  

My understanding is there is a 60' wide lot fronting Peabody at 5th that is not part of the tri-brand project - at all. They tried to buy it but couldn't make a deal. 

[markhollin]

A few more details regarding The Joseph Hotel and the Pizzuti family in this from NBJ:

http://www.bizjournals.com/nashville/blog/2015/12/exclusive-what-itll-take-for-this-100m-luxury.html

Warby Parker Eyewear plans to lease several more floors, and potentially add as many as 250 employees for L&C Tower:

http://www.bizjournals.com/nashville/blog/2015/12/exclusivewarby-parker-eyes-long-term-home-in.html

 

[CenterHill]

18 hours ago, markhollin said:

A few more details regarding The Joseph Hotel and the Pizzuti family in this from NBJ:

http://www.bizjournals.com/nashville/blog/2015/12/exclusive-what-itll-take-for-this-100m-luxury.html

 

Joseph Hotel passed MDHA round 1.    Tennessean: 

Luxury hotel concept approved

In other business Tuesday, MDHA's design review committee approved concept plans for the 300-room Luxury Collection hotel Columbus, Ohio-based The Pizzuti Cos. plans for a 0.75-acre site at Korean Veterans Boulevard and Fourth Avenue South.

The developer, however, has to return for review, including related to active use, glazing, bike parking and signage.

The Joseph Nashville hotel will occupy 14 floors including ballroom space. The five levels of parking will include 380 spaces with 180 for exclusive use by the Nashville Symphony, which has an agreement to sell the project site to The Pizzuti Cos. A restaurant and bar will be on the ground floor with amenities including a fitness center and spa on the rooftop.

[smeagolsfree]

Metro planning 100 units at Cheatham Place

http://www.tennessean.com/story/money/real-estate/2015/12/02/metro-housing-plans-100-apartments-cheatham-place-complex/76672010/

[markhollin]

Germantown Barista Parlor sets grand opening dates/times for this weekend:

http://www.bizjournals.com/nashville/blog/2015/12/barista-parlor-sets-germantown-soft-opening-dates.html

[think365]

1 hour ago, smeagolsfree said:

Metro planning 100 units at Cheatham Place

http://www.tennessean.com/story/money/real-estate/2015/12/02/metro-housing-plans-100-apartments-cheatham-place-complex/76672010/

Are these units going to be considered part of Cheatham Place?

[smeagolsfree]

Not sure.

[markhollin]

New restaurant to be developed at site of former Dollar General store on 5th Ave. just a few doors down from the Frothy Monkey.

http://www.bizjournals.com/nashville/blog/2015/12/nashville-restaurant-group-buys-ex-downtown-dollar.html

http://www.tennessean.com/story/money/real-estate/2015/12/02/downtown-nashville-dollar-general-building-sold/76681712/

Edited December 2, 2015 by markhollin

[smeagolsfree]

Gulch property sales again and this time to a hotel developer.

https://www.nashvillepost.com/news/2015/12/3/sobro_parcel_under_contract_with_hotel_developer

[markhollin]

^ ^ ^ Good Lord!  That's a $2.65 million profit on a turn-around of just a month!  

[BnaBreaker]

26 minutes ago, markhollin said:

^ ^ ^ Good Lord!  That's a $2.65 million profit on a turn-around of just a month!  

Apparently, I'm in the wrong business!!  Wow. 

[titanhog]

1 hour ago, markhollin said:

^ ^ ^ Good Lord!  That's a $2.65 million profit on a turn-around of just a month!  

He did the same thing with RCA Studio A, right?  Bought it and flipped it within a short time for a nice profit.

[Tim29tn]

On December 1, 2015 at 7:49:42 AM, PHofKS said:

So the block between 4th and 5th and KVB and Peabody may look like this??

..assuming the Tennessean's (latest?) description of it as a 21 story building with 300 rooms is the correct one.

Love the infill, but surely by the time things get finalized there will be a bit more of height differential in these hotels. 

[markhollin]

^ ^ ^  The Northpoint Marriott Tri-Brand is scheduled at 19 stories, compared to The Joseph which is announced at 21--although the rendering looks more like 22. 

[Rockatansky]

18 hours ago, markhollin said:

^ ^ ^ Good Lord!  That's a $2.65 million profit on a turn-around of just a month!  

Obscene.

[Hey_Hey]

He's the type of "developer" that gives developers bad names.  He collects properties for far less than they are worth and then sells then to an actual developer to do something with the property.  He's akin to the residential wholesalers that target people who don't  know what their property it worth by lying to them and paying FAR less than its actual value. 

He will get taxed like crazy on this. Property flippers pay income tax on the profits plus both sides of social security/FICA tax. He will pay almost 50% of that profit in taxes. 

[wmaddbb2018]

2 minutes ago, Hey_Hey said:

He's the type of "developer" that gives developers bad names.  He collects properties for far less than they are worth and then sells then to an actual developer to do something with the property.  He's akin to the residential wholesalers that target people who don't  know what their property it worth by lying to them and paying FAR less than its actual value. 

He will get taxed like crazy on this. Property flippers pay income tax on the profits plus both sides of social security/FICA tax. He will pay almost 50% of that profit in taxes. 

That's still over a million bucks after tax for - month. Sign me up.

[MLBrumby]

If you build it, Google will come... http://www.tennessean.com/story/money/real-estate/2015/12/04/google-fiber-pursues-more-space-nashvilles-gulch/76786772/

[titanhog]

1 hour ago, Hey_Hey said:

He's the type of "developer" that gives developers bad names.  He collects properties for far less than they are worth and then sells then to an actual developer to do something with the property.  He's akin to the residential wholesalers that target people who don't  know what their property it worth by lying to them and paying FAR less than its actual value. 

He will get taxed like crazy on this. Property flippers pay income tax on the profits plus both sides of social security/FICA tax. He will pay almost 50% of that profit in taxes. 

If I could buy a property one day and sell the next and make a buck, I'd do it.  It's not up to the buyer to decide the price the seller will take.