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

[titanhog]

5 hours ago, markhollin said:

Moxy Hotel (former Richards and Richards Building fronting both Broadway and Third Avenue South), approved for $2 million permit to add 2 floors (total of 6) for 161-room boutique hotel, and design 4 restaurants into the structure.
http://nashvillepost.com/blogs/postbusiness/2015/12/29/sobro_boutique_hotel_project_lands_2m_permit

I just noticed there's only one Moxy hotel open at the moment (in Milan, Italy)...but two will open in the next few months (in New Orleans and Tempe, AZ)...with more world-wide openings later in 2016.  Have to believe they'll do this one right, with Marriott attached.

[titanhog]

Metro going to use eminent domain to get the Greyhound parking lot.

http://www.tennessean.com/story/news/2015/12/29/metro-turns-eminent-domain-greyhound-property/78037536/

What do you guys think about this?  Greyhound is made to move by eminent domain when the city built the MCC...and they moved to their current location south of Lafayette.  Now...the city wants a portion of their new land for the Division connector.  Seems like the city could find a way to not smack these guys twice.

[Pyramid Scheme]

3 hours ago, titanhog said:

Metro going to use eminent domain to get the Greyhound parking lot.

http://www.tennessean.com/story/news/2015/12/29/metro-turns-eminent-domain-greyhound-property/78037536/

What do you guys think about this?  Greyhound is made to move by eminent domain when the city built the MCC...and they moved to their current location south of Lafayette.  Now...the city wants a portion of their new land for the Division connector.  Seems like the city could find a way to not smack these guys twice.

This kind of reminds me of the quartering acts Parliament enacted in the 18th century. Whether it seems justified or not, property rights should be absolute, the government or local residents or anyone else should not have a say on property that's not theirs.

[samsonh]

2 hours ago, Philip said:

This kind of reminds me of the quartering acts Parliament enacted in the 18th century. Whether it seems justified or not, property rights should be absolute, the government or local residents or anyone else should not have a say on property that's not theirs.

Greyhound doesn't care about leaving the property. They just want more than metro is offering. There will come a solution and it will be fair, sometimes these situations work out greatly in the favor out the party being taken over. 

[nashwatcher]

1 hour ago, samsonh said:

Greyhound doesn't care about leaving the property. They just want more than metro is offering. There will come a solution and it will be fair, sometimes these situations work out greatly in the favor out the party being taken over. 

If you look at what the Division St Extension will take from the greyhound sight, it appears it is only the edge of their parking lot and won't have much impact on their operations. This is just Greyhound trying to get more money. I guess they don't need to have a working relationship with the city government if they're turning down almost a million dollars for a sliver on the edge of their property line.

[UTgrad09]

6 hours ago, Philip said:

This kind of reminds me of the quartering acts Parliament enacted in the 18th century. Whether it seems justified or not, property rights should be absolute, the government or local residents or anyone else should not have a say on property that's not theirs.

I don't want to go off on a long tangent here, but if we had absolute property rights, then I think a lot of our nation's critical infrastructure, especially in the last 50-60 years, would not have been possible.

 

In terms of this deal -- I think Metro is giving a fair offer in terms of value ($870k for about 1/5 of an acre). But I can see Greyhound's issue, too. Nashwatcher is right that it shouldn't affect the daily operations of Greyhound too much (except, perhaps, during construction). However, they will lose virtually all of their on-site parking (14 spaces directly, and 8 more will become useless without a lot of re-working). That's 22 parking spaces for their customers on-site. In order to have any parking at all

Now if that is their main issue, it seems there would be a simple solution for both parties. Metro already acquired (and flattened) the property directly behind Greyhound http://www.padctn.org/prc/property/92695/card/1 (518 Ash St), which is about a half acre (minus a small part that will become part of the Division ROW). This property is also adjacent to land Greyhound already uses for what appears to be employee and extra bus parking http://www.padctn.org/prc/property/92694/card/1 (718 6th Ave S). Why not just transfer the remaining property of 518 Ash to Greyhound? Call it an even trade. 

 

Property in question:

https://www.google.com/maps/@36.1513801,-86.7743631,3a,75y,53.12h,87.16t/data=!3m7!1e1!3m5!1sE435fkcxHCuARMMUjBeDiQ!2e0!6s%2F%2Fgeo2.ggpht.com%2Fcbk%3Fpanoid%3DE435fkcxHCuARMMUjBeDiQ%26output%3Dthumbnail%26cb_client%3Dsearch.TACTILE.gps%26thumb%3D2%26w%3D392%26h%3D106%26yaw%3D350.56497%26pitch%3D0!7i13312!8i6656

[titanhog]

I think Greyhound has every right to stick it out and make Metro pay...especially being this is the second time in less than 10 years that Metro has used eminent domain on them.

It's not just about the money...or about what will properly serve the most citizens.  It's about doing the right thing.  Just seems the city should have tried a little harder to not take some of their land twice...no matter how small or insignificant the land is to the owner.  You see the new Greyhound property in one of your proposals and you say "ok...let's figure out a way around these guys.  We don't need to go through this with them twice."  Plus...there's going to be an obvious delay because the Greyhound officials aren't going to take this lying down...AND...it's going to cost the taxpayers that much more money.  A fail on behalf of Metro.

However...I do like UTgrad's idea.

[Granthammond]

On 12/29/2015 at 10:30 AM, MLBrumby said:

I am referring to next year. Someone mentioned the growth cycle and my broker recently advised cashing out in many positions.  We shall see. Hope I'm wrong... as my ego is not nearly as fragile as my investments. I hate losing money.  LOL

I am in agreement for the fringe areas. I am currently selling off the bottom 50% of my portfolio and putting that cash towards 6-12 month projects in A+ areas. 

[Pyramid Scheme]

17 hours ago, UTgrad09 said:

I don't want to go off on a long tangent here, but if we had absolute property rights, then I think a lot of our nation's critical infrastructure, especially in the last 50-60 years, would not have been possible.

I understand that they're not absolute in this country, but I think they should be. I have family who have giant interstates cutting through their land that they didn't want and I've always imagined how I would feel if it were my property. I think it's mistreatment. Who's the government to say they know better what to do with your land than you? When I talk about property rights I come from a sort of philosophical point of view, I think it's a critical thinking for ensuring liberty and I wish we would practice it.

With all that being said, if all Greyhound is doing is haggling then let'm at it. I hope they get as much as possible out of Metro.

Edited December 31, 2015 by Philip

[UTgrad09]

6 hours ago, Philip said:

I understand that they're not absolute in this country, but I think they should be. I have family who have giant interstates cutting through their land that they didn't want and I've always imagined how I would feel if it were my property. I think it's mistreatment. Who's the government to say they know better what to do with your land than you? When I talk about property rights I come from a sort of philosophical point of view, I think it's a critical thinking for ensuring liberty and I wish we would practice it.

With all that being said, if all Greyhound is doing is haggling then let'm at it. I hope they get as much as possible out of Metro.

So, from an absolute property rights perspective, you would have no issue with your neighbor building literally anything on their land, even if it devalued your land?

[SoundScan]

It goes beyond property values--absolute property rights would have a devastating effect on quality of life. Without eminent domain, zoning regulations, codes enforcement, etc. the Unites States would likely be a third world country. Sure, in a agrarian society 400 years ago absolute property rights would probably work fine, but the world has become too dense, too advanced, and too complex for property owners to live on an island, so to speak.

[nashwatcher]

http://www.bizjournals.com/nashville/blog/2015/12/crema-owner-buys-two-parcels-in-sobro.html

SoBro property on Hermitage sold for $4 million

[smeagolsfree]

Mainland buys land on SoBro's round-about.

http://nashvillepost.com/news/2015/12/31/local_developer_eyes_project_on_sobro_roundabout_site

[titanhog]

17 minutes ago, smeagolsfree said:

Mainland buys land on SoBro's round-about.

http://nashvillepost.com/news/2015/12/31/local_developer_eyes_project_on_sobro_roundabout_site

What do you think Smeagols?  Tall tower?

[markhollin]

4 hours ago, nashwatcher said:

http://www.bizjournals.com/nashville/blog/2015/12/crema-owner-buys-two-parcels-in-sobro.html

SoBro property on Hermitage sold for $4 million

Smart move.  All of these small parcels along the west side of Hermitage are going to have high potential once the MHHA properties across the street that surround the Trolly Barns and the Rolling Mill Hills developments are completed. Not to mention City Lights which will sit directly behind this strip.  So intriguing that an area that hasn't even been an afterthought for 50 years is going to be utterly transformed in a matter of 5.  

[smeagolsfree]

1 hour ago, titanhog said:

What do you think Smeagols?  Tall tower?

Hard to say right now. I do not think they are done with land acquisition. I will say they may go tall as I doubt the land was cheap.

[markhollin]

2 hours ago, smeagolsfree said:

Mainland buys land on SoBro's round-about.

http://nashvillepost.com/news/2015/12/31/local_developer_eyes_project_on_sobro_roundabout_site

So excited about this, as well as the other pie-piece-shaped lots surrounding the Music City Roundabout. Anxious to see the "significant" designs.  

Also, curious to see which of the adjacent properties Mainland is seeking.  Would seem to me the 1.5-acre site immediately to the east on the other side of 7th Avenue (currently four primarily unused, nondescript 1-story  structures and a couple of usually-empty surface lots) that borders the Downtown Police Precinct  and the NES power station would be a nice tie-in. 

 

[PruneTracy]

9 minutes ago, markhollin said:

Also, curious to see which of the adjacent properties Mainland is seeking.  Would seem to me the 1.5-acre site immediately to the east on the other side of 7th Avenue (currently four primarily unused, nondescript 1-story  structures and a couple of usually-empty surface lots) that borders the Downtown Police Precinct  and the NES power station would be a nice tie-in.

Those parcels plus the one mentioned in the article add up to the 2.5 acres referenced earlier. Hopefully Metro will also hand them 7th Avenue if they are successful in consolidating the block, as that is now a thoroughly useless segment of roadway that screws up the Peabody/Lafayette intersection to boot.

[Pyramid Scheme]

7 hours ago, UTgrad09 said:

So, from an absolute property rights perspective, you would have no issue with your neighbor building literally anything on their land, even if it devalued your land?

Obviously it would bother me, but who am I to tell him he can't. Actually something like that is happening to my property, that's life. Also, we should probably not talk about this here. I think this started from the Greyhound issue and we've thoroughly discussed it.

Edited December 31, 2015 by Philip

[nashwatcher]

29 minutes ago, markhollin said:

So excited about this, as well as the other pie-piece-shaped lots surrounding the Music City Roundabout. Anxious to see the "significant" designs.  

Also, curious to see which of the adjacent properties Mainland is seeking.  Would seem to me the 1.5-acre site immediately to the east on the other side of 7th Avenue (currently four primarily unused, nondescript 1-story  structures and a couple of usually-empty surface lots) that borders the Downtown Police Precinct  and the NES power station would be a nice tie-in. 

 

Excited about this too. I wonder how long it will be before all the parcels along Lafayette within the inner loop get developed...

SoBro truly has been a blank canvas developers from across the country have painted on. Now lower SoBro is next (especially with Division St Extension on it's way)

[smeagolsfree]

Maybe  a certain property owner can chime in here and maybe give us some more information.

[MidTenn1]

On 12/31/2015 at 4:30 PM, PruneTracy said:

Those parcels plus the one mentioned in the article add up to the 2.5 acres referenced earlier. Hopefully Metro will also hand them 7th Avenue if they are successful in consolidating the block, as that is now a thoroughly useless segment of roadway that screws up the Peabody/Lafayette intersection to boot.

For reference...

I hope something with appropriate massing (ie.like the Element at the Music Row Roundabout) is facing the KVB roundabout.

[markhollin]

Entertainment and hospitality offerings of Gulch to be focus of signage.

http://www.tennessean.com/story/money/real-estate/2016/01/04/directories-planned-nashvilles-gulch/78271038/

 

[TNinVB]

Saw these in line while checking out at Marshals. Made me think of something but couldn't quite put my finger on it lol

[smeagolsfree]

I'll bet there are 27 of the in the box to.