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Moore Building/15 Stories/222 FT/227,000 sq. ft. office/8,500 sq. ft. retail, internal garage, 19th & Chet Atkins


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14 hours ago, NashvilleObserver said:

Another "big fix" that would make our downtown area really POP is developing all the PARKING LOTS!!! I can't stand that so many locations in our city, perfect for a 30-story apartment or office, are just slabs of asphalt.

You will find some consolation if you compare downtown aerial photos now with aerial photos from about 10 years ago, especially before Music City Center construction began. The change is dramatic. I'm impressed with how many massive parking lots have gone away and replaced by construction projects.

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Over the weekend, I checked out a link from The Tennessean (probably still there) that showed the Nashville skyline through the years. As recently as 2010 (when the Pinnacle building was built) the skyline was really small. But as things started moving south of Broad, and then west of Rosa Parks, including some big (but not necessarily tall) buildings in Midtown, the difference in the past 9 years has been nothing short of stunning. As we've discussed (lamented) here, Nashville doesn't have a tall skyline, but it now has a lot of breadth. In the next 5 years, the projects on line are going to make it look like a "bona fide" big city.  At some point, someone is going to build a 50+ tall tower that's going to separate Nashville from all its other midsize peers, but the biggest reason for that will be (not the new supertall but) the 31-block long skyline. 
It is beginning to remind me of an earlier Atlanta (except much better, but in relation to growth) during its extreme boom phase.

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As Smeagolsfree mentioned a few days ago, the demo permit has been granted valued at $34,600 for Demo Plus to start the razing of the two structures on the .76 acre site at the NW corner of 19th Ave. South and Chet Atkins Place. An early 2020 start date for construction is being eyed.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21104533/start-on-midtown-highrise-takes-step-forward

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Portman Holdings  finalized the $8.2 million purchase for The Moore Building site this week, and despite having their construction loan for the $118 million project lined-up, have decided to pause the construction start due to the Covid-19 pandemic.Mike Green of Portman says, "We closed on the property because we still believe a lot in the deal and didn't want to see all that hard work go to waste. It's great to have a piece of Nashville that we own," said Greene, who is Portman's vice president of development. "We should have our full building permit approved shortly and be ready to press the 'go' button as soon as we see the other side of the hill on the virus situation."

A couple segments of a Q&A here:


Let's take the clock back to the start of this year. How did you expect the timing of all this to unfold? Pre-COVID-19, we had targeted a late February/early March closing and construction start. As we approached closing and the picture around COVID started to look more and more serious, we decided to look harder at the timing for construction start. We didn’t want to start construction and then find out almost immediately that Nashville had stopped inspections, there was a federal mandate to close all businesses including construction sites or that material and labor were just unavailable. It seemed very sensible to pause and see how the virus affected the country before charging into a potential construction delay claim.

What signs will you be looking for to give you the confidence that the pandemic has crested and is under control? We are looking for infection numbers to start coming down and for stay-at-home orders to end. We are also looking at how quickly employment, travel and retail numbers start to come back. I think everyone is hoping for a V-shaped recovery and to get back to normal as quickly as possible.

Does the surge of office space already under construction in downtown and Midtown impact your thinking at all? As responsible developers, we always keep an eye on supply, but we believe strongly in this building’s location, size and design. Music Row is a great neighborhood. It has quieter streets, less traffic, and great restaurants. Compared to downtown, we think the Music Row experience is much better for the office user. Also, at 226,000 square feet, this is a great building size for the neighborhood. It's larger than what’s currently offered, but not so much to overpower the neighborhood.

How many months will construction take, once it begins? It's a 20-month construction schedule.

Will you start spec [without tenants], or look to secure some pre-leasing first? We are strong believers in Nashville and this building. Once we can see some light at the end of the COVID tunnel, then we will take measure of its overall effects on the office market. Ultimately, that is going to inform us as to whether or not to start spec. We have purchased the site and have a fully permitted project, so we can move quickly at the right time.

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2020/04/17/exclusive-they-just-bought-land-and-lined-up-all.html?iana=hpmvp_nsh_news_headline

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  • 6 months later...

A stormwater grading permit has been applied for with Ragan-Smith Associates (engineering and land-planning) listed on the permit. As a reminder, co-developer David W. Creed and  Portman Holdings had decided to put groundbreaking on hold earlier this year due to the pandemic.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/construction/article/21144223/permit-patrol-2-november-2020

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1 hour ago, markhollin said:

A stormwater grading permit has been applied for with Ragan-Smith Associates (engineering and land-planning) listed on the permit. As a reminder, co-developer David W. Creed and  Portman Holdings had decided to put groundbreaking on hold earlier this year due to the pandemic.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/construction/article/21144223/permit-patrol-2-november-2020

Are they just wanting to tidy up the lot and keep water off the neighbors while they wait to build?

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