markhollin

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

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On 4/26/2018 at 9:01 AM, 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.   

seems to me Nashville gets a Signature Tower announced every time a real estate bust is forthcoming.

Edited by ricky_davis_fan_21
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1 hour ago, ricky_davis_fan_21 said:

seems to me Nashville gets a Signature Tower announced every time a real estate bust is forthcoming.

Funny you mention that. The same thought came to my mind then went away.

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I want as many of these buildings to get started before the next economic downturn.  I have no doubt it won't be as deep and long as 2008, but I'm sure it would cancel a few projects.  Now that 5th and Broad is well underway and Nashville yards has two anchors on either end (Amazon and the Grand Hyatt), I really, really hope the 2nd Ave condo/hotel projects gets started.  I suspect Paramount won't start until ~2020-21 if everything went well, and I would expect us to be in a recession by then.  If Nashville can weather this next recession better than most of the other cities in the US then I think we'll see continued development a year or two after it ends, so I still have hopes that it will be completed by 2023 time frame. 

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I personally hope Tony's goal is to keep increasing the height of the city with these towers so that eventually he can build whichever version of the signature tower and it not look too tall, and that he hasn't given up on siggy.

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10 minutes ago, BnaBreaker said:

Bridgestone Tower would also be between 5th/3rd and Snodgrass in the above graphic.

Fixed it. Thanks.

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50 minutes ago, PHofKS said:

A comparison of Nashville tallest buildings, current and proposed. The Paramount will impact the skyline, no doubt, but not like the Oklahoma City skyline.

 

 

If it's on a high elevation street it will.

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1 hour ago, Ingram said:

 

If it's on a high elevation street it will.

What do you mean "if"?  We know exactly where it's going...which is right down the street from 505.

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3 hours ago, ruraljuror said:

What do you mean "if"?  We know exactly where it's going...which is right down the street from 505.

 

Well then Nashville will look out of wack just like Oklahoma City.

Edited by Ingram

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Well then Nashville will look out of wack just like Oklahoma City.

Why? The building really isn’t that tall... in 1993, Charlotte had maybe 3 buildings over 400 feet, and then built Nations Bank (BofA Corp center) at nearly 900 feet. It was stoic, beautiful. Nashville has fleshed out its skyline more than enough to support this building. If the original Siggy Tower was back in play, MAYBE I’d be on your side, but being a few hundred feet taller than everything else isn’t that bad. It’s not like you’re building Taipei 101.

 

Edit: if anything, Nashville will finally have that one tall building to give it some Focus. Batman Building was always an awkward tallest building to have anyway.

 

Sent from my iPhone using Tapatalk

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9 hours ago, ricky_davis_fan_21 said:

 Batman Building was always an awkward tallest building

I agree. Not because I don’t like the AT&T building but rather because so much of its height is the twin spires. The 5/3 building (and now obviously 505) always “felt” taller because it’s height wasn’t just from spires . It was fully occupied space all the way to the top, which I really appreciate.

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On 12/26/2018 at 5:46 PM, subkyle said:

 

Photo by Nashville Post

Santa Claus has delivered Music City an unexpected Christmas gift — a massive color electronic image of the proposed skyscraper that would transform the downtown skyline.

Nashville-based Giarratana LLC had the image of the planned luxury residential tower Paramount — to rise about 750 feet and to be the result of a possible land swap with Metro — go live during Christmas day at the massive The Nashville Sign located at the Broadway and West End Avenue split in Midtown. The image’s running will end today, Giarratana LLC President Tony Giarratana told the Post.

Of note, the image includes the phrase “Make no small plans.” Niccolo Machiavelli (1469-1527), an Italian diplomat, historian and philosopher whom many consider the father of modern political science, is largely credited with coining the phrase. In addition, Daniel Burnham — the late Chicago-based architect — gets credit for the phrase, too.

Prior to now, the image of the proposed 65-story tower had not been made public. Giarratana said he wanted the rendering to run publicly for the first time in a special manner.

“I did this for Christmas Day,” he said. “We discussed it with our friends with Blackbird Media, which owns and operates the sign. They were enthusiastic about the idea and made it happen.”

If standing today, Paramount would be Nashville’s tallest building (the AT&T Tower, the so-called “Bat Building,” stands 613 feet at its spires’ tips).

Chicago-based Goettsch Partners is handling the design. Giarratana said he was drawn to the firm for its ability to “open the base” of Paramount, which will face the entrance of the Nashville Main Library within the 600 block of Church Street.

“The [footprint of the park parcel] is small and we did not want to ‘crowd’ the library,” he said.

Goettsch has won various awards. Of note, Vladimir Andrejevic, who had been with Chicago-based Solomon Cordwell Buenz (which designed Giarratana LLC’s nearby 505 tower) is now at Goettsch.

Giarratana said the Paramount design has been inspired by Goettsch’s 110 North Wacker Drive building in Chicago. The building will include a glass-bottom swimming pool to extend over the street-level drive aisle in a cantilevered fashion. The tower will be rather slender (a roughly 10,500-square-foot floor plate vs. 12,500 square feet at 505). Various renderings are expected to soon be made available, he said.

Paramount could materialize if Metro and Giarratana LLC can finalize a land swap deal involving the pocket park site across Church Street from the main library. Of note, the tiny green space was the first urban pocket park created since Nashville's post-late-1990s urban renaissance.

As part of the deal, Giarratana LLC would transfer to Metro its parking lot at 301 James Robertson Parkway so that the city can create a replacement pocket park.

Relatedly, Giarratana LLC would commit $2 million toward the conversion of the James Robertson lot into a replacement park and waive a development fee to assist Metro in developing city-owned land located at 505 Second Ave. N. a services center and apartment building for the homeless. The project would cost about $25 million and offer 100 units.

Giarratana issued a press release recently, in response to three Nashville Civic Design Center articles showing options to upgrade the park, noting his offer is "the best chance to make a transformative change in the plight of the homeless."

“This proposal has been extremely collaborative, and has included Metro officials, agencies and other groups, and was designed to make a real impact,” he said in the release. “The status quo of the current park is unacceptable for people at risk, for downtown residents, property owners and visitors, and on the downtown quality of life.”

An informal poll by the Post shows a greater variety of entities supporting the land swap than opposing. For example, Giarratana's proposal has drawn support from, among others, Mayor David Briley, District 19 Metro Councilmember Freddie O'Connell (in whose district the property sits), the Urban Residents Association, the Nashville Public Library Board, the Nashville Downtown Partnership, the Nashville Convention and Visitors Corp. and the Nashville Area Chamber of Commerce.

In contrast, various homeless advocates and some members of the real estate industry oppose the swap.

In November, the Metro Parks Department Board of Commissioners voted 4-3 to approve the land swap. Though the vote is not binding, it could have influence on the Metro Planning Commission (which will vote on a rezoning), Metro Development and Housing Agency Design Review Committee (for design) and on the 40-member Metro Council, which ultimately will need to approve both the land swap and the rezoning.

If Paramount materializes, it would rise one block west on Church Street of Giarratana’s aforementioned mixed-used skyscraper 505, which stands 525 feet tall and 45 stories

From the post

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It is now clear that at one point that Metro had considered the purchase and conversion of the Morris Memorial Building into the homeless center that would feature housing units on its upper floors as part of the whole Church Street pocket park/Paramount Tower plan.  However, that fell apart at least 6 months ago. It is not known at this time if the city still has plans for how this historic structure might fit into a larger strategy.

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2019/01/09/documents-metro-considered-nixing-controversial.html?iana=hpmvp_nsh_news_headline

 

Screen Shot 2019-01-09 at 7.59.37 AM.png

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If you ask me, the Metro politicians simply did NOT want the homeless shelter so close to their place of business. 

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25 minutes ago, satalac said:

That rendering is much better! 

Very much so. I found an even higher quality one and replaced the one above. If you click on it (Desktop) you can zoom in and see more features.

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