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

[samsonh]

Yes agreed. The Adelicia is far ahead of the other condo developments in terms of luxury in my opinion, and its really not even close.

[Leif]

Yes agreed. The Adelicia is far ahead of the other condo developments in terms of luxury in my opinion, and its really not even close.

Having looked at most of the high rises I didn't really follow Adelicia's price premium, could you elaborate on what you think separates it from the pack?

[NashRugger]

I've toured many of the newer developments and the only other project that comes 2nd to The Adelicia is Terrazzo. All of the Novare projects, Rhythm, and other smaller developments simply do not have the amenities, the finishes, or floor plans that The Adelicia offers.

[smeagolsfree]

There is an article in the Post today about a project in German Town. I gave this to WW as I had forgot about it. Just remembered yesterday. This is an addition 3 buildings at Morgan Park Place.

[samsonh]

Exactly, the interior finishes just blow the other projects out of the water. The Terrazo is nice but has a rather industrial feel to it. I also like the Rhythm a bit fwiw.

[CandyAisles]

Yes agreed. The Adelicia is far ahead of the other condo developments in terms of luxury in my opinion, and its really not even close.

 

Local architects give a damn.

[timmay143]

Oooooo Electrolux appliances!!

[mirydi]

I don't know if everyone has seen this yet, but I came across a newer render of Tony's proposed Marriott hotel not too long ago and it shows a little more details in this one versus the older ones that were going around. Looks a little different too. Anyway's just thought I would share.

 

 

 

 

Here is the older one.

Edited November 7, 2013 by mirydi

[Nathan_in_DC]

Are there any mid-range apartment projects planned for the gulch? It'd be awesome to see some more apartments in the $1000-$1500 range in the area to attract a more diverse set of residents in the area.

[mirydi]

Isn't the buidling at 4th and Church that is being converted from office to a boutique hotel next door to this property? And doesn't the city have a surplus building at 4th/Union that they were talking about selling to a hotel user? If so, this stretch of 4th could change into a hotel strip. Not that that would be a bad thing.

 

But I do think that Nashville is getting pretty full on the hotel side, particularly on the small-to-medium-size, limited-service hotel side. So maybe I would vote for condos here? I don't know.

 

Nashville's office vacancy rate is no doubt shrinking, but it appears that a lot of that is due to the supply of CBD office space shrinking. Maybe all of these office building reuses that are removing office space from the CBD market will help to spur more downtown office construction.  Because we need somewhere for those downtown apartment and condo dwellers to work downtown!

As far as Nashville getting full on the hotel side, I honestly don't think that's the case. Tourism is booming more now than ever before and growing year after year, the MCC is generating a ton a demand on it's own, and Nashville is becoming a hot bed for such big events like the 12 straight SEC tournaments announced just recently. I would expect more big events to follow as Nashville's popularity continues to grow. The Omni hotel booked 250K+ rooms 6 months before even opening. That's just insane amount of rooms! Not only that but Omni said on their website and I quote "This milestone was among the quickest reached by an opening Omni property, and also reinforces that there is strong local, regional and national interest from meeting and event planners in the Music City."

 

I would also like to point out that Mark Bloom recently stated that he expects several more high end hotels downtown in the next couple of years in this article posted the other day. http://www.tennessean.com/article/20131102/BUSINESS02/311020066/Nashville-s-Gulch-neighborhood-may-ripe-luxury-hotel

 

I'm sure he's stating that because he know's just how strong the demand still is for hotels here both full service and limited service. If anyone know's how the hotel market is right now it's him.

 

I really don't think Tony's proposed Marriott or the proposed Hyatt on lower broadway (smaller full service hotels) along with the Omni are gonna cut it in the full service department. Maybe if the proposed 30 story Westin gets built that might slow things down a bit, but until another really big full service hotel gets built downtown, or two, I wouldnt count on Nashville being full on the hotel front.

Edited November 7, 2013 by mirydi

[mirydi]

This was posted in the NP this morning.

 

Some October numbers for Omni

http://nashvillepost.com/blogs/postbusiness/2013/11/7/some_october_numbers_for_omni

Omni Nashville Hotel officials have released some statistics for the recently opened facility’s October effort.

They include the following:

• 11,272 future room nights booked

• 94 group meetings

• 13,000-plus covers served at Barlines

 

11,272 rooms booked in one month, for one full service hotel.

 

I would say atleast one or two Omni sized or larger full service hotels are needed, and can certainly exist without the market being oversaturated.

[CenterHill]

There is an article in the Post today about a project in German Town. I gave this to WW as I had forgot about it. Just remembered yesterday. This is an addition 3 buildings at Morgan Park Place.

 

 

Any idea where these will go?   The corner lots at Van Buren and 5th and VB at 4th seem likely, bookending the existing Morgan Park Place residences west of 4th.   I always assumed those corner lots were slated for eventual mixed use, but residential would would work fine there, especially with the potential for retail in the Werthan shed complex across the street on 5th.  

 

Speaking of Werthan, the Flats project is really coming along.   Nice architectural touch in what looks to be very tall window frames on the top floors facing the downtown skyline.    The more I see about this project, the more I like it.

[Nathan_in_DC]

This was posted in the NP this morning.

 

Some October numbers for Omni

http://nashvillepost.com/blogs/postbusiness/2013/11/7/some_october_numbers_for_omni

11,272 rooms booked in one month, for one full service hotel.

 

I would say atleast one or two Omni sized or larger full service hotels are needed, and can certainly exist without the market being oversaturated.

 

Over 11k room-nights in *one hotel* seems outstanding. 

 

Does anyone know if there's any way to get comparison numbers for any other hotels in the area?

[rwvaugha]

I believe these are indeed going at the corner of 5th and VB. At some point I saw design plans but cannot remember where.

 

From the Nashville Business Journal today:

ZM Development Co. hopes to break ground in January on Morgan Park West, a $5 million residential project in Germantown, Nashville Post reports.

The project, part of the broader Morgan Park Place development, will feature residential units in three buildings.

Homes in the project will range from 2,200 square feet to 2,700 square feet, with starting prices in the low $500,000s.

[Hey_Hey]

Are those numbers actually good? I'm not in the hospitality industry, so don't know how it works exactly. They have 24,000 room nights per month (800rooms x 30 days), so 11,272 room noghts booked in one month would only give a 47% occupancy rate.

[mirydi]

Are those numbers actually good? I'm not in the hospitality industry, so don't know how it works exactly. They have 24,000 room nights per month (800rooms x 30 days), so 11,272 room noghts booked in one month would only give a 47% occupancy rate.

The 11,272 rooms booked this month are future rooms accorgind to the article. Not how many room nights the hotel had booked total for the month. 2 days before the Omni opened the the hotel had nearly 400,000 rooms booked. So tack those 11,272 on to that number. All in all I would say the numbers are very good.

 

Two days before opening, Omni closes in on 400,000 booked rooms

http://www.bizjournals.com/nashville/blog/2013/09/two-days-before-opening-omni-closes.html

The hotel just crossed 395,000 room bookings, said Roadarmel, the hotel's director of sales and marketing. There are 450 meetings booked, including 14 local conventions for next year, a new record for the city, he said. So far, the bookings have been 65 percent group bookings and 35 percent leisure.

According to the Omni blog, Nashville's advanced bookings have been among the quickest reached by an opening Omni property, a sign that downtown was hungry for a luxury hotel of its type.

 

[smeagolsfree]

They will take up three existing corners that have nothing on them.

[samsonh]

Um I agree that these numbers aren't necessarily out of the park. Not all rooms will book at least a month ahead, but I'd guess more than half do. Producer2?

[smeagolsfree]

Two more apartment buildings up for approval by MDHA. WW told me about this yesterday and is behind pay wall at the Post. I think the height will be 5 stories. These were announced last year but they are moving a little faster now. There will be retail space included as well as some public space.

[BnaBreaker]

nice. location?

[dmillsphoto]

nice. location?

 

Rolling Mill Hill in the empty spaces.

[rwvaugha]

I found the site plans on Metro's Development Tracker site: http://maps.nashville.gov/MPC/2013/091213/2006SP-022-001_plan.pdf

[MLBrumby]

If the daily fishwrap can be believed, it appears the Dean administration has struck a land swap deal with the state and Embrey at Sulphur Dell for the new ballpark.  Details are to be announced on Monday... http://www.tennessean.com/article/20131108/BUSINESS01/311080160/Dean-reaches-deals-Sounds-ballpark?odyssey=mod{sodEmoji.|}breaking{sodEmoji.|}text{sodEmoji.|}FRONTPAGE

[satalac]

Oooooo Electrolux appliances!!

That's what killed me at Terrazzo. I used to install appliances for Whirlpool and did many of the units in Terrazzo. All base model washers and driers.

[MLBrumby]

These new projects will join the original buildings of RMH (Metro, Art Deco, Victorian), Nance Place, Ryman Lofts and CityView, which had ground broken in July. 

 

RMH    http://www.rollingmillhill.com/   

 

CityView (7 stories) Under construction at the site of the smokestack next to the Victorian and the Metro http://nashvillepost.com/blogs/postbusiness/2013/7/15/ground_breaks_for_cityview_apartments_on_rolling_mill_hill     

 

And the Terwilliger-Pappas project across Hermitage Avenue from the trolley barns (7 stories)  from Post http://www.bizjournals.com/nashville/blog/2013/09/new-developer-makes-first-play-for.html

Edited November 10, 2013 by MLBrumby