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Modera McGavock (formerly Hotel Broadway plan), 28 stories/310', 400 residential units, 16,000 sq. ft. restaurant/retail


markhollin

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7 hours ago, Binbin98 said:

I think in terms of the whole Nashville's economy slowing down thing, I believe the media really over-exaggerates what is really happening. Nashville's economy is doing just fine even with a slowdown, growing markets need to slow down every once in awhile to absorb the houses/hotel rooms/office space/condos it has built over a certain period of time. If this doesn't happen for a market the market becomes over-saturated and the bubble bursts sort to speak. What in reality seems to be happening is that Nashville is growing and absorbing quite fast, but also in a way that allows the market not to burst, however the media tells it as Nashville's economy is about to crash which doesnt seem to be true. Don't get me wrong I think in the future at some point Nashville's allure may be a bit less than it was at first, but that does not mean that Nashville lost its appeal or will lose its great economy. I actually feel Nashville's economy will always be on the good side of things, mainly because people come to and invest in Nashville for Nashville itself, rather than a specific tourist attractions/business headquarters that bring people to a city despite the city itself (if you get what I mean)

Sorry for the long post, I just came back from my econ class and felt like I needed to put what I learned to use :D 

There has been a slow down in construction overall throughout the economy, it's not specific to Nashville or any one city. People are still on the fence about the future of the economy (there's never been an economic expansion period that has lasted this long in history), thus most banks have stopped lending for these projects for the time being to see how things shake out over the next several months / years.

https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/elyrazin/2017/08/02/bank-of-the-ozarks-stock-drop-cre/&refURL=https://www.google.com/&referrer=https://www.google.com/

https://www.fool.com/investing/2017/10/14/does-bank-of-the-ozarks-make-loans-that-other-bank.aspx

Quote

"Despite living 350 miles west of Nashville in Little Rock, Ark., [Chairman and CEO George] Gleason and his ... Bank of the Ozarks have funneled more money into Nashville's construction boom than any lender around in recent years," wrote Meg Garner for the Nashville Business Journal in April. Even "those in the development community warn that the city has too many apartments on the market."

Even in my county in Georgia, growth continues, but there isn't a whole lot of new construction or land sales happening.  A lot of stuff is in the works, but it has all been sitting in limbo for some time.

Edited by urbanplanet17
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1 hour ago, urbanplanet17 said:

There has been a slow down in construction overall throughout the economy, it's not specific to Nashville or any one city. People are still on the fence about the future of the economy (there's never been an economic expansion period that has lasted this long in history), thus most banks have stopped lending for these projects for the time being to see how things shake out over the next several months / years.

https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/elyrazin/2017/08/02/bank-of-the-ozarks-stock-drop-cre/&refURL=https://www.google.com/&referrer=https://www.google.com/

https://www.fool.com/investing/2017/10/14/does-bank-of-the-ozarks-make-loans-that-other-bank.aspx

Even in my county in Georgia, growth continues, but there isn't a whole lot of new construction or land sales happening.  A lot of stuff is in the works, but it has all been sitting in limbo for some time.

Yes I agree, its not just Nashville that is being cautious. Even if tomorrow the economy has a collapse, Nashville still has many projects under construction or about to start construction (with financing), so I'd say stay in Nashville/Austin/Raleigh/Denver/Portland etc... if a depression happens because there probably will still be construction in those places, albeit less :D 

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  • markhollin changed the title to Modera McGavock (formerly Hotel Broadway plan), 28 stories/310', 400 residential units, 16,000 sq. ft. restaurant/retail

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