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


smeagolsfree

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River Tower Condos at 700 1st Ave. North (5 stories facing  1st Ave. North, 6 stories facing river, 37 condos) is the new working name for the project that had previously been known as Water Tower Condos (7 stories, 39 units).  CA South Development is now the only developer, taking over for Andy Devine.  The Bradley Projects is serving as architect, and Certified Construction Services will be the contractor. Knighthead Funding of Connecticut is the financier.  Construction is to resume in December, provided that MDHA Design Review Committee OK's the new design.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21095734/metro-to-vote-on-riverfront-condo-building

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This screen shot from Smeagolsfree's excellent development map shows the site highlighted in red at the center of the frame:

River Tower Condos, Nov 4, 2019, site map.png

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Clay Street Commons will be the name of a mixed-use development featuring two 3 story buildings with a total of 61 rental units, plus 5,000 sq. ft. of ground level retail split evenly between the two structures.  It will cover 3 lots totaling 1.13 acres at 1919 9th Ave. North and across the street at 1928 9th Ave. North, which cost a cumulative $2.275 million.  A spring 2020 groundbreaking is planned. The Bradley Projects wills serve as architect. Certified Construction will be the contractor. No renderings yet.

More at the Nashville Post here:

https://www.nashvillepost.com/business/development/article/21095891/north-nashville-parcels-sell-for-228m

And behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2019/11/06/gulch-visionary-d-c-developer-pursue-north.html?iana=hpmvp_nsh_news_headline

Clay Street Commons, Nov 6, 2019, site.png

 

This screen shot from Smeagolsfree's excellent development map shows the site highlighted in teal at the center of the frame:

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Craig, Bos2Nash, told me Saturday at the meet that he saw core drilling equipment on site at the round about site where the AME HQ is. This is the land that J. David Byerley wants to develop and created circle south partners.

I still dont think he will pull it off. I may get surprised. My guess is he will land bank it and sell the property as he is not really developed anything that I can see. His partner in Dickson was supposed to have redeveloped the Octagon building on Music Row into a hotel and according to the NBJ he got his loan about two years ago, but still has not started. At some point that bank will want to know where their money is, if not already.

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This is related to the above post.

Water sewer permitting studies completed. I may know something in a month or so because it takes about that long for the details to show up showing the scope fot eh project.

There were four permits like the one below.

https://epermits.nashville.gov/#/permit/3730056?initial=1&searchType=permit&orderBy=fullAddress ASC,permitNumber ASC&searchText=&page=16&searchCode=ADDR

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Historic Nashville released its "Nashville Nine" most notable endangered properties for 2019.  I often think their lists are knee jerk over-reactions, and don't pay them much heed.  

The final listing caught my eye because of news imbedded within it I don't believe we have heard before:

The Federal Reserve Bank of Atlanta building

The Nashville Branch of the Federal Reserve Bank of Atlanta, built in 1922, is one of the region's best standing Neoclassical architectural structures, according to Historic Nashville Inc.

The Federal Reserve moved to Eighth Avenue North in 1958 and vacated the building, at 226 Third Avenue North. 

Bill Miller, owner of the Johnny Cash Museum and other entertainment destinations in the downtown area, purchased it in 2018. 

"There are current talks of expanding the building for hotel use, adding significant height to the historic building," Historic Nashville Inc. states. "This expansion could cause the building to no longer be considered contributing to the National Register-listed Historic Financial District and could compromise its overall historic integrity."

This is interesting for a several of reasons:

1) Bill Miller seems to be quite concerned with keeping his developments within downtown historical buildings tasteful.

2) Miller has not been one to dabble in hotels.   All of his developments have been museums or eateries/bars (Johnny Cash Museum, Patsy Cline Museum, House of Cards, Johnny Cash Kitchen and Saloon, Nudie's Honkey Tonk, Skull's Rainbow Room, and the soon-to-be opened Sinatra's in the Southern Turf Building.

3) I wonder if the Historic Nashville folks got this confused with the Indigo Hotel purchase of the Nashville Trust building (1902) directly across the street at 231 Third Ave. North.  The hotel has announced plans that have been approved by the city for 12 story addition on top of the old bank.

If Miller is, indeed, interested in building a hotel on top of HIS bank, it would be quite unique to have two such entities directly across the street from each other.  And if Miller does propose this, I'm sure it will be done in a classy way that does not take anything away from the integrity of the foundational structure.

I have heard rumor that Miller plans an Elvis Presley Museum/restaurant for this location.

Here is the Nashville Post article about Miller's purchase 19 months ago:

https://www.nashvillepost.com/business/development/article/21001198/cash-museum-owner-buys-downtown-neoclassical-structure

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I of course would much rather see buildings retain at least a semblance of their exterior architecture than be completely torn down and lost, but there is much to be said about a reuse that maintains the original interior layout of some of these buildings. Even if you're changing the use of the building entirely, then keeping the interior layout and the original architect's vision alive is awesome. You see quite a bit of that here in the UK, especially with old inns being modernized. The old beams and winding corridors make for an unforgettable experience sometimes. I don't know if the surrounding lots would work for this, but it'd be cool to see something like what happened to the Philadelphia Corn Exchange. They added a modern hotel (the Ritz Carlton) to the side of it and kept the vast domed hall of the Exchange as the reception area, a restaurant, and bar.

Edited by Nathan_in_the_UK
Typo
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Here is the Nashville Nine from the Tennessean. My take on Nashville Historic Inc. is they sound the alarm 20 to 30 years too late. They are so far behind the curve its ridiculous and the list should not be limited to NINE properties as the focus needs to be on all of the properties that are endangered. If gives the misconception that there are only nine properties that are in danger.

These folks are idiots and have always been so in my book as they have failed the city or in the words of Arrow.  "You Have Failed This City". Again, the efforts should have started 50 years ago and this problem has accelerated the last ten and the only win they have is Studio A. That one was just a by the skin of their teeth.

https://www.tennessean.com/story/money/2019/11/07/2019-s-nashville-nine-most-endangered-historic-properties-named/2517874001/ 

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Global Shares, and Irish fintech company, will base its U.S. HQ in Nashville at 501 Union St. (7 stories), and hope to fill 200 new positions over the next 2 years. Additionally, the structure will get a facade update after MDHA approval earlier this week.  No word on if interior will get upgrade as well.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2019/11/08/irish-fintech-firm-launches-nashville-office-plans.html?iana=hpmvp_nsh_news_headline

And behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21096467/downtown-office-building-to-see-exterior-update
 

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I wonder if they plan to just paint that hideous exposed aggregate cladding, or if they will smooth coat the surface? Certainly not a huge improvement either way, but I really hope they will go with the "smooth coat" option. Now if that fabulous Rae's Sandwich Shop would just be open more often that JUST Monday through Friday lunch hours!!!

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You would be surprised what a coat of white paint will do to a building.

In Houston, a lot of older buildings in the Uptown district are going with the look and it's a noticeable improvement. Sure, you can't fix an ugly design with just some paint, but it's definitely an upgrade from an ugly brown, beige, or yellow.

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On 11/6/2019 at 12:41 PM, smeagolsfree said:

Craig, Bos2Nash, told me Saturday at the meet that he saw core drilling equipment on site at the round about site where the AME HQ is. This is the land that J. David Byerley wants to develop and created circle south partners.

I still dont think he will pull it off. I may get surprised. My guess is he will land bank it and sell the property as he is not really developed anything that I can see. His partner in Dickson was supposed to have redeveloped the Octagon building on Music Row into a hotel and according to the NBJ he got his loan about two years ago, but still has not started. At some point that bank will want to know where their money is, if not already.

I get to quote myself here and say my guess was correct... Details to follow.

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