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2017 Nashville Development In Review

markhollin

By markhollin
in Nashville

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markhollin Galactalopolis

markhollin

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What a stellar year for Nashville development!  Probably the largest ever in terms of tall buildings completed, projects underway, announcements for upcoming  concepts, and economic/tourism growth.  Here are highlights.  

2017 CHRONOLOGICAL ANNOUNCEMENTS IN REVIEW: 

  • SoBro Hyatt House (6 stories, 217 rooms) at 5th Ave. South and Lea Ave.
  • Germantown Union (5-7 stories, 250,000 sq ft office space, boutique hotel, food hall grocery)
  • The Landings at River North will be Phase I of that major development. 40 acres, mixed use, riverfront park, marina included.
  • Hyatt Regency (25 stories, 591 rooms) will be anchor of Phase I of Nashville yards. More phases will include four other 25-30 story towers, four 8-15 story buildings, 4,000 seat heater, 700 seat club 10 screen Regal Cinema, $1 billion price tag 
  • World One Hotel (40 stories, 829 rooms, 2,500 seat theater) proposed at Hermitage and KVB
  • TownPlace Suites (8 stories, 200 units) for 1414 Charlotte Ave.
  • Hilton Tapestry Printing House (10 stores, 175 rooms) for 3rd Ave. South and Peabody
  • South Sixth (10 and 11 story residential, 297 units) for 6th Ave South and Lea
  • Lifestyle Communities SoBro, Phase I (11 stories) for 3rd Ave. South and Ash
  • StayBridge Suites (4/5 stories, 163 units) at Charlotte and 21st Ave. North
  • Madison Mill redevelopment to be offices now, called Millworks on Charlotte
  • 5th & Broadway plans finalized. 33 story residential tower, 26 story office tower
  • Embassy Suites (30 stories, 506 rooms), Curio Hotel (19 stories, 215 rooms)
  • Broadway Lofts (6 stories) on 2nd Ave. South
  • Gateway 808 (7 stories, 330 units) at Rosa Parks Blvd. and Garfield
  • Hyatt House West End (14 stories, 201 rooms) at Hayes and 21st Ave. North
  • Belcourt Village mixed-use (4 stories) across from Belcourt Theater
  • IKEA at 1-24/Hickory Hollow Parkway in Century Farms
  • Greer Stadium redevelopment plan, 300 units affordable/workforce and market rate housing, retail, shops, artisan center, park/greenways
  • Graduate Hotel (12 stories, about 200 rooms) at West End and 20th Ave. North
  • Virgin Hotel (14 stories, 260 rooms, music club) at Division and Music Square West finalized
  • W Hotel (16 stories, 350 rooms) in Gulch
  • Endeavor Phase II, Hotel (28 stories, 300 rooms), Residential Tower (28 stories), Office Tower (21 stories, 325,000 sq ft) for Demonbreun and 12th Ave. South
  • Tennessean sells 10 acre property to Highwood Properties and Jim Caden for $55 million. No plans announced yet.
  • Werthan Packaging Warehouse at Taylor and 5th Ave. North to be redeveloped as 100,000 sq ft of office space 
  • Kenect Nashville (20 stories, 421 units) for Division and 19th Ave. South
  • Capitol View Hampton Inn (11 stories, 168 rooms) for 11th Ave. North and Jo Johnston
  • Holiday Inn Airport (6 stories, 200 rooms) at Perimeter Place
  • MLS Soccer Stadium (28,000 capacity, $275 million) at Fairgrounds plus 8 new replacement structures, 10 acres of private development by team owners (hotel, restaurants/retail, affordable housing), and 40 acres of park land
  • Crescendo Apt Tower downgraded to 6 stories, 210 units along Division St.
  • Elm Street Methodist (Tuck Hilton) sold to Corsair Distillery, for new brewery/restaurant project, plus boutique hotel next door (no renderings yet)
  • Amazon HQ2 possibility for Nashville. City/State sent major (undisclosed) proposal. Many lists place Nashville in the Top Ten of finalists.
  • Airport renderings and timeline on $1.2 billion expansion.  Includes new main concourse terminal, dozens of new gates, international upgrades, TSA upgrades, 16 story hotel, light rail station.
  • Mass Transit Plan rolled out with 5 light rail/bus spokes coming into a downtown 1 mile underground terminal tunnel running north south beneath 5th Avenue
  • CB Ragland unnamed hotel (20-30 stories) at 2nd Ave South and Molloy
  • Vanderbuilt University Tower (20 stories) along with set of 6 story dorms for West End and 24th Ave. South. Work to begin in first quarter of 2018.
  • Eakin raises Trolley Barn site office building from 6 to 9 stories, and now 280,000 sq ft.
  • Condos (9 stories, 140 units) by Devine & Eptstein for 5th Ave. South and Carroll St.
  • Residences at 15th & Carroll now to be 12 stories, 105 units and 10,000 sq ft of retail
  • Hampton Inn (7 stories, 126 rooms) at Skyline Center
  • One KVB Circle (32 stories, 475,000 sq ft office, 25,000 sq ft retail, 1,200 car garage) for SE corner of Music City Circle
  • McGavock Street Partnership Boutique Hotel (21 stories, 470 rooms, 200 seat club) for McGavock and 13th Ave. south
  • Turnberry hints at a second phase of JW Marriott on small lot next door—another 35 stories for 470 more rooms?
  • House of Blues (18 stories, 1,200 seat club, boutique hotel, offices) for 1st Ave. South, 1/2 block south of Broadway
  • Creed Investments Office (16 stories) at NW corner of Chet Atkins and 19th Ave. South
  • PSC Metals buys more land on east bank site.  Now control 43 acres.
  • 2nd Avenue Partners development will be reduced from two 40 story towers to one, that will be slightly taller (now 550’), that will be called 151 1st Ave. South. With a 9 story high-level hotel, retail, and 374 car garage. Will break ground in 3rd quarter of 2018.
  • 35 story apartment building proposed for the .65 acre lot at 805 Lea Ave, just south of Music City Circle.
  • Nashville Yards announces some further specs on first phase.  Besides the 25 story Hyatt Regency, there will also be an 18 story residential building; a 15 story office building; and a 10 story office building. The second phase will include a 32 story office tower on the north side of Church St. plus other buildings not yet finalized.
  • New designs on the Federal Courthouse were released.  Will be 4 and 5 stories, but height will probably be close to 80’ in sections. To break ground in summer of 2018.
  • The 130 acres NE of Opryland will now be developed in a co-venture between Ryman Hospitality and Lincoln Development over the next decade or so.  Most likely mixed use of office, multi-residential, and retail.
  • Graduate Hotel at NW corner of West End and 20th Ave. North will be 12 stories, 200 +/- rooms. No renderings yet.
  • Tennessee State Library and Archives (3 stories) finalized and ground broken at SE corner of Jefferson and 6th Ave. North
  • TownPlace Suites (12 stories, 156 rooms) massing renders released for 306 Gay St.
  • Fairfield Inn West End downsized to 7 stories/156 rooms (had been 10/200). Mid 2019 completion predicted.
  • Cambria Suites Airport (4 stories/200 rooms) just east of Century City
  • The Derby Apts. (5 & 6 stories, 285 units, retail) at First Tennessee Ballpark to start in early 2018. Section adjacent to ballpark along 3rd Ave. North to be announced in first quarter of 2018.

    Other news of 2017:
     
  • A plethora of announcements for developments along Dickerson Road corridor.
  • A handful of large housing developments announced along West Trinity Lane corridor.
  • Real estate starting to get gobbled-up for developments near proposed Light Rail stations.
  • At least 6 months of home sales setting new records. Year end aggregate around 8% over 2016, and 10% higher values than 2016.
  • Home values have risen nearly 50% in 4 years.
  • Nashville ranked #1 hottest real estate market
  • Nashville ranked #3 most attractive city for college students by SmartAsset
  • Nashville Unemployment Rate to new record low of 2.3%—Lowest major city in U.S.
  • Tennessee State Unemployment to record low 3%
  • Nashville ranked #3 Fastest Growing Economy by Headlight Dates
  • Nashville #3 hottest business market according to Forbes
  • Nashville had the lowest office vacancy rate in the nation (7%), and #6 in rent growth (10%)
  • Airport set many new month-to-month passenger records.  For FY, the ended at 15.6 million up over 10 % from ’16.
  • Nashville #2 for millennials to get job/buy house/start life according to Business Insider. Nashville #2 city in job growth since 2007 behind Austin.  172,600 new jobs, 25% growth in decade
  • Nashville ranked #4 most dramatically changed city in America in last decade by MagnifyMoney.com. Only Austin, DFW, and Houston were higher.
  • Nashville has now surpassed New Orleans in tourist traffic.
  • Nashville #1 Best Place to Ring in New Year according to USA Today Readers’ Poll.
  • Bridgestone Arena chosen as best arena in nation by industry insiders again in Pollstar Magazine.
  • Predators going all the way to Stanley Cup Finals brought huge national/international  spotlight on city for weeks.
  • Predators rated #1 Best Value in Sports by ESPN.com, compared with 130 other major league franchises.
  • Nashville rated the #1 Minor League Baseball City in America out of 160 metro areas.
  • Nashville awarded the 24th franchise in Major League Soccer, thus assuring the new soccer stadium at the Fairgrounds and adjoining rebuilds/development.

 

ACTUAL CONSTRUCTION IN 2017:

Total tower cranes that were up during the year: 52

Buildings topped out:

505 Church Street Tower, 45 stories
JW Marriott Hotel, 34 stories
Bridgestone Americas Tower, 30 stories
222 2nd Ave. South Tower, 25 stories
Marriott Tri-Brand Hotel, 21 stories
Cambria Suites Hotel, 19 stories
Vertis Green Hills, 19 stories
The Morris, 19 stories
Kimpton Hotel, 17 stories 
Broadstone Gulch Apts, 14 stories
Vanderbilt Children’s Hospital Expansion (4 stories on top of 8)
Aertson Apts, 12 stories
Noelle Hotel addition, 11 stories
Bruin Hills Dorm, Belmont Univ., 11 stories
Dream Hotel, 10 stories
LifeWay, 10 stories
2400 Crestmoor Marriott Residence Inn, 9 stories
BWSC Offices, 8 stories
2400 Crestmoor Green Hills Hilton/offices, 8 stories
30th and Poston Condos, 7 stories
The Olmstead Apts, 6 stories 
Capitol View Phase II, Apts/Office/Retail, 6 stories
River House Apts, 6 stories
Solis Apts, 6 and 4 stories
The Bobby Hotel addition, 6 stories
Millennium Music Row, 6 stories
Lifestyle Communities Germantown, 6 and 4 stories
One C1TY Apts, 6 & 5 stories
The Atlas (Madison Grove) Apts, 5 stories
Peyton Stakes Apts, 5 stories
Hampton Inn SoBro addition, 5 stories
The Monroe Apts, 5 and 4 stories
Eastside Heights Apts., 5 stories
1260 Martin Apts, 5 stories
Broadstone 8th South, 5, 4, and 3 stories
8th South Condos, 5 stories
Melrose Phase II Apts, 5 stories
Cleo Apts., 5 stories
Harry O’s Restaurant/Bar, 5 stories

Other significant developments topped-out in 2017:

V21 Apts/office/retail, 4 stories
Vanderbilt Barnard Dorms (4 and 9 stories)
Eastland Apts, 4 stories
Walden Woods Apts and Townhomes, 4 & 3 stories
Octave Apts, 4 stories
Family Justice Center, Metro Police HQ, 4 stories
The Duke Apts, 4 stories
The Wabash Offices, 4 stories
Alloy Tech Hill Apts, 4 stories
Airport Parking Garage, 4 stories
Candlewood Suite Metro Center, 4 stories
Fairfield Inn, Metro Center, 4 stories
Tennessee State Museum, 3 stories
Division Street Connector
Ft. Nashboro rebuild
Top Golf
Stocking 51 in the Nations
Hill Center Brentwood

BY COMPARISON….

2015 MAJOR DEVELOPMENTS TOPPED-OUT:

1212 Condos, 23 stories
Element Music Row, 19 stories
Hilton Garden Inn, 10 stories
Gulch Crossings, 10 stories 
Vanderbilt School of Engineering, 7 stories
1505 Demonbreun, 7 stories
The Edge Midtown, 7 stories
Terra House, 5 stories
Aspire on Charlotte, 5 stories
715 Woodland, 4 stories
23 Hundred Berry Hill, 4 stories
The Melrose, 4 stories
Matthews Company Rehab, 4 stories
City View Rolling Mill Hill, 4 stories
Acklen West End, 4 stories
8 City Blvd, OneC1TY, 4 stories
First Tennessee Ballpark, 10,000 capacity
Ascend Amphitheater, 6,800 capacity


2016 MAJOR DEVELOPMENTS TOPPED-OUT:

The SoBro, 33 stories 
The Westin Hotel, 27 stories
SkyHouse, 25 stories
1201 Demonbreun, 15 stories
Thompson Hotel, 12 stories
Seven Springs AIG, 9 stories
MDHA Parking Garage at 505, 8 stories
Crescent Music Row, 6 stories
Millennium Music Row, 6 stories
The Cadence, 6 stories
The James, 1000 Division, 6 stories
The Gossett, 5 stories 
46th West Apts, 5 stories
Opus 29 Apps, 5 stories
Opus 31 Apps, 5 stories
2700 Charlotte, 5 stories
Stacks on Main, 4 stories
Acklen 12 South, 5 stories
1821 Jefferson, 4 stories
Dillards at Green Hills Mall
Hill Center Sylvan Heights
Hill Center Five Points

What were your favorite developments of 2017?

Later this week, I'll post all the projects expected to top-out or get underway in 2018. It may even exceed 2017!

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dmillsphoto Town

dmillsphoto

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6 hours ago, markhollin said:

William Williams of the Nashville Post has a great piece summarizing all the growth of construction in Nashville during 2017 (currently behind the paywall).  Includes a nod to UrbanPlanet Nashville.  : )

https://www.nashvillepost.com/business/development/article/20987184/citys-development-scene-sees-hot-2017-conclude

**** Includes a nod to the list that Mark Hollingsworth put together above.

 

Take a bow Mark, you deserve it!

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