Paramount Tower, 65-68 stories, approx. 750', 200 units, $240 million, Church Street Park

[markhollin]

It appears that all the moving parts for Tony Giarratana's magnum opus seem to be falling into place.  His long-held dream for Nashville's definitive tall boy will come to fruition on the lot currently held by the Church Street Park, directly north of the Downtown Library, and between 6th Ave. North and Capitol Blvd. It would also include the  3 story structure at 206 Capitol Blvd., as well as the surface lot at 208 Capitol Blvd that was once the home of Knickerbocker Theater.

Portions of the story from Nashville Post:

Giarratana said he is not ready to discuss details of the skyscraper that would rise from what was Metro’s first pocket parkHowever, he has said in the past he would like to develop a tower of at least 650 feet, and insiders feel the skyscraper, if it materializes, could reach 750 feet tall.

Giarratana and Metro officials are discussing a land deal that would see Giarratana Nashville LLC develop a tower of an undisclosed height at the city’s Church Street Park site between Sixth Avenue and Anne Dallas Dudley Boulevard (Capitol Blvd.)

In exchange for that property, the company would develop an affordable housing apartment building and homeless services facility (anchored by the Metro Homeless Commission) of eight stories on a distinctively shaped property that Giarratana  owns at 301 James Robertson Pkwy.  Another thread has been started for that project.

Giarratana unveiled the basics of the plan Monday night at a meeting of the Urban Residents Association. He stressed the effort remains in the very preliminary stages.

“We’ve studied a number of solutions and opportunities and here is one we feel has merit,” Giarratana told the Post, adding the company will continue to discuss the plan with Metro officials and downtown business owners, property owners and residents.

Erik Cole, Metro’s chief resilience officer, said Giarratana would devote $5 million to improve Anne Dallas Douglas Boulevard with green space to compensate for the loss of the pocket park.

Cole said Metro Planning Commission will need to approve a rezoning of the park site and that the Metro Council will need to OK the land deal. It is unclear if Giarratana Nashville will acquire five adjacent parcels north of the pocket park.

More behind the paywall at Nashville Post:

https://www.nashvillepost.com/business/development/article/21002392/giarratana-targets-downtown-park-for-skyscraper

Also more behind the paywall at NBJ:

https://www.bizjournals.com/nashville/news/2018/04/25/giarratana-eyes-condo-skyscraper-in-proposed-land.html

Looking NW at the lot from 30th floor of 505 CSt:

Looking north at lot from above Downtown Library:

 

Looking NW from intersection of 6th Ave. North and Church St:

 

The lot is the  turquoise square in the center of this screen shot from Smeagolsfree's excellent Development Map:

[MagicPotato]

  

[Pdt2f]

Happy it’s in the CBD, going to be a great centerpiece to the skyline. Hope he puts some serious effort into a good crown to make it distinctive. Bummed about the loss of that park though, I’ve always thought it was a wonderful little oasis. 

[chris holman]

[Bos2Nash]

58 minutes ago, markhollin said:

Erik Cole, Metro’s chief resilience officer, said Giarratana would devote $5 million to improve Anne Dallas Douglas Boulevard with green space to compensate for the loss of the pocket park.

Can someone point this out to me? Can't seem to find it on Google

[donNdonelson2]

Sad reality of that little jewel of a park is that is completely overtaken by homeless folks in daytime. They have every right to use the park, of course, BUT, the ones who are under the influence, or are otherwise obnoxious or threatening, have made use of the park by many of the general population rather undesirable. 

2 minutes ago, Bos2Nash said:

Can someone point this out to me? Can't seem to find it on Google

Otherwise known as Capitol Boulevard 

Capitol Blvd
Nashville, TN
https://goo.gl/maps/drvW2VukosN2

[Bos2Nash]

1 hour ago, markhollin said:

Erik Cole, Metro’s chief resilience officer, said Giarratana would devote $5 million to improve Anne Dallas Douglas Boulevard with green space to compensate for the loss of the pocket park.

 

12 minutes ago, donNdonelson2 said:

Sad reality of that little jewel of a park is that is completely overtaken by homeless folks in daytime. They have every right to use the park, of course, BUT, the ones who are under the influence, or are otherwise obnoxious or threatening, have made use of the park by many of the general population rather undesirable. 

Otherwise known as Capitol Boulevard 

Capitol Blvd
Nashville, TN
https://goo.gl/maps/drvW2VukosN2

Wild Suggestion here.... Take the 5 million and shut down Capital Blvd (with exceptions for local deliveries and hotel garage access) and create a pedestrian corridor to replace the park. That money could really go a loooooong way in creating a comfortable corridor park here. This would also be a great way to show off the state house from the urban setting instead of peering up from the bottom of the hill in Bi-Centennial.

Edited April 25, 2018 by Bos2Nash

[BnaBreaker]

Yes, there are certainly parcels I'd like to see developed before this little park and charming three story building are torn down, but in this case I'd say it's definitely a worth while trade off it it means that we *FINALLY* get a tower of some proper respectable height!  I'm looking forward to the details!

2 minutes ago, Bos2Nash said:

 

Wild Suggestion here.... Take the 5 million and shut down Capital Blvd (with exceptions for local deliveries) and create a pedestrian corridor to replace the park. That money could really go a loooooong way in creating a comfortable corridor park here. This would also be a great way to show off the state house from the urban setting instead of peering up from the bottom of the hill in Bi-Centennial.

I love the suggestion, I'm just not sure that street is the right place for something like that given the fact that it about 75% of it is fronted on both sides by blank walls.  Doesn't make for a very interesting pedestrian experience!

[MidTenn1]

45 minutes ago, Bos2Nash said:

 

Wild Suggestion here.... Take the 5 million and shut down Capital Blvd (with exceptions for local deliveries and hotel garage access) and create a pedestrian corridor to replace the park. That money could really go a loooooong way in creating a comfortable corridor park here. This would also be a great way to show off the state house from the urban setting instead of peering up from the bottom of the hill in Bi-Centennial.

I remember when the Library was built and I read an architectural review (New York Times?) of the then new Library which was favorable, but lamenting the urban landscape between the Library and the State Capitol, in particular the parking garage. Hopefully, some cosmetic improvements can be made some day to rectify that.

[NashvilleObserver]

I am ready for this park to GO! and be replaced by another magnificent Giarratana tower. He seems to love keeping his projects in the same area (Viridian, 505, The Cumberland, and now this)

[VSRJ]

How soon do you think we'll see a rendering (or at least a concept)?

[troyboytn]

So, I'm assuming  condo, apartment, or hotel components. Much too small of a footprint for office unless he plans to purchase the 2-5 buildings/lots to the north which would supply large enough floor plate for class A office space.

[e-dub]

Come on home, player. I love that he believes in Church Street so much!

[MagicPotato]

I want another batman building but taller! 

[CenterHill]

I hate the loss of the park for aesthetic reasons, but agree it is used solely by the homeless and MNPD who are there to keep an eye on them.  

[japan]

7 hours ago, Pdt2f said:

Happy it’s in the CBD, going to be a great centerpiece to the skyline. Hope he puts some serious effort into a good crown to make it distinctive. Bummed about the loss of that park though, I’ve always thought it was a wonderful little oasis. 

It's a nice park but has just been misused for year because of its proximity to the library.

[Nashville Cliff]

I knew as soon as I saw the news flash that I was in for another several months-years of UP Tony-worshiping, fanboy lather.  ; ) 

I saw Tony and Tom Turner from the Downtown Partnership nosing around the area some time ago, so I've been expecting this. I'll miss the park (condescending Metro quotes aside, not everyone who works or lives downtown is afraid of homeless people, who, BTW, will just move around the corner to the "improved" green space). I'll also miss the view from my office (assuming he doesn't buy and demolish my building as part of the package). And I can't say I'm looking forward to yet more blasting, but Church St. is CBD and this is probably a better use for the lot. I'll reserve my judgement until I know more about the plan. 

[smeagolsfree]

I also made the footprint larger since you posted the map Mark. It would go all the way back to the TN Municipal building if he gets what I think he will get.

5 minutes ago, Nashville Cliff said:

I knew as soon as I saw the news flash that I was in for another several months-years of UP Tony-worshiping, fanboy lather.  ; ) 

I saw Tony and Tom Turner from the Downtown Partnership nosing around the area some time ago, so I've been expecting this. I'll miss the park (condescending Metro quotes aside, not everyone who works or lives downtown is afraid of homeless people, who, BTW, will just move around the corner to the "improved" green space). I'll also miss the view from my office (assuming he doesn't buy and demolish my building as part of the package). And I can't say I'm looking forward to yet more blasting, but Church St. is CBD and this is probably a better use for the lot. I'll reserve my judgement until I know more about the plan. 

You are the reason this is out as you were the first to see the writing on the wall or the people on the walk in this case. Thanks Cliff.

[Guest]

^^

No question, a tower is definitely a better use for this ‘park’... more drug den and flop house. One is not required to fear the homeless to state the obvious. I, or should I say my dog frequents the park almost daily, and while there are some very friendly regulars, down-and-out on their luck, there is a very seedy element even they wish would move along, 

I doubt very much the green space improvements being mentioned will devolve into a similarly shocking state. The dog walk/park is one clue, and the luxury tower needing to lure buyers is another. 

[smeagolsfree]

I agree Todd. I also think that the Homeless Service center and any kind of transitional housing would not have any impact on the  folks that would hang out at the park due to the library as that is where the homeless hangout when they cant go to the Mission.

I think any type of park or public space at that location will end up being the same.

[wmaddbb2018]

Does anyone else think that announcing a tower when 505 is going so so sales wise is a smart move? To me, this is a tower that if built wouldn't be around until 2025 or so, and imo draws slight attention away from 505.   

Edited April 26, 2018 by wreynol4

[PaulChinetti]

I'm excited about this and to echo those above, hopefully it has a distinctive crown! 

 

[Hey_Hey]

49 minutes ago, wreynol4 said:

Does anyone else think that announcing a tower when 505 is going so so sales wise is a smart move? To me, this is a tower that if built wouldn't be around until 2025 or so, and imo draws slight attention away from 505.   

I wondered that as well. Are potential buyers going to hold out for a 50th floor condo instead of 38th floor condo?  Possibly, if they are on the fence about buying now. However, I don't know if he had a choice.  A land swap would require Metro Council passage, and I don't think he could hide it at that point.  I suspect that there are supporters lining up for this and that legislation will be introduced over the next few months.  Part of the allure of this is that Nashville will have a distinctive skyscraper as well as providing workforce housing. It takes both parts of that to motivate stakeholders. 

[NashvilleObserver]

1 hour ago, Nashville Cliff said:

I'll miss the park (condescending Metro quotes aside, not everyone who works or lives downtown is afraid of homeless people, who, BTW, will just move around the corner to the "improved" green space). 

I have a feeling many will also frequent Public Square Park as this will be right across the street from the new homeless services facility.

[Rockatansky]

20 hours ago, Bos2Nash said:

Capital Blvd

CapitOl Blvd.