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markhollin

127 Rosa Parks, 24 story, 250 room hotel, 134 residential units, 245 capacity garage

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The Post interviewed  real estate research specialist Ed Branding to get his thoughts on this project:

“While HRI Properties has not yet released the plan for its mixed-use building, they have a wide range of uses from which to select: residential, office, hotel (and ‘a hotel's two best friends, restaurants and retail’), perhaps something institutional to adjunct with or extend the mission of Hume Fogg High School. They pretty much have the pick of the yard.

“The central sub-district of the downtown core is intended to have the highest density in the county, with higher intensity encouraged north of Broadway than south, so 24 stories on a half-acre of land is right up Nashville Next's alley. And they could go 30 stories. More if they used the downtown code's bonus height program to add affordable units to, say, house some of the people who work at the bottom of the hill but have to drive in from Dickson and the far end of Central Pike because that's as close in as they can afford to live."

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21026682/major-permit-issued-for-gulch-project

 

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I fear that what's driving the latest frenzy of twenty-something residential towers is the Air BnB (et.al.) trend.  Certainly, it's boosting rents overall, but are these companies throwing up towers just because of the tourism boom? If so, then what happens when that busts? 

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I almost wouldn't be surprised to see some of those apartment buildings sell for a lot less than what the original developer wanted them to go for, too.

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30 minutes ago, MLBrumby said:

I fear that what's driving the latest frenzy of twenty-something residential towers is the Air BnB (et.al.) trend.  Certainly, it's boosting rents overall, but are these companies throwing up towers just because of the tourism boom? If so, then what happens when that busts? 

Better deals for renters. 

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On 10/10/2018 at 1:55 PM, MLBrumby said:

I fear that what's driving the latest frenzy of twenty-something residential towers is the Air BnB (et.al.) trend.  Certainly, it's boosting rents overall, but are these companies throwing up towers just because of the tourism boom? If so, then what happens when that busts? 

The financial projections behind these huge projects are quite extensive and based on research and decades of experience.  It's very difficult (impossible) for me to imagine all those MBAs and CFAs making that kind of mistake.  Maybe one or two, but not a dozen.  Yes, a boom can be a powerful thing and can pull you off of your rational plan, but we're not yet in a boom relative to some of these other cities.

There are new jobs here in multiple industries.  That much is very good but I don't know how well we're doing in this area relative to our competitor cities.

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Thanks for that update Mark. We were about to reach out to the church , so HRI seems the better fit at this time. I have been checking their website but nothing right now.

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I really like how much this will help connect CBD to Nashville yards. This looks like the new 805 Lea renderings. 

Now I wish that one parking lot behind Hume-Fogg on the corner of Commerce and 7th would do something similar.

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Great detail diagrams! Thanks.

Notice how there is no parking pedestal. I see some garage above ground. Is any of the parking u/g?

Anyone know how the yard around the new courthouse will be landscaped? Will it have a wall? A fence? The entire block is to be developed, but the courthouse stands only on about a third of the property. Two other existing structures will remain (for now anyway). But that leaves a lot of the site fronting Commerce. Will that be a parking lot? I assume the Church Street and 7th Avenue sides will be landscaped as green space.  Would be nice to see that wrap around to Commerce. 

Edited by MLBrumby
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FROM THE DOC......" A parking garage is planned for two sub-grade levels as well as the 2nd, 3rd, and 4th floors.  Sub-grade parking will account for at least 75 parking spaces.  Above grade structured parking will serve residents and hotel valet totaling approximately 170 spaces.  The total gross square footage including all levels of the parking garage is approximately 485,000 sf."
 

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I'm sorry, but I'm not a big fan of the random window placement design that we're seeing in a lot of architecture today. I don't want a glass box, and I don't mind asymmetry, but I just....don't like this look.

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I believe the new building will be to the east of the existing office building and from that angle looks to be behind/above it. 

127 Rosa Parks Tower, Aug 12, 2019, render 8.png

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1 hour ago, UTgrad09 said:

I'm sorry, but I'm not a big fan of the random window placement design that we're seeing in a lot of architecture today. I don't want a glass box, and I don't mind asymmetry, but I just....don't like this look.

I don't really mind the appearance of the render but I think this is a good point.  I've also noticed new buildings that may have gone a bit overboard with this trend and there's always the risk that in a few short years it may look very dated and undesirable like an orange shag carpet in a bedroom that we really wish had never been installed. 

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1 hour ago, UTgrad09 said:

I'm sorry, but I'm not a big fan of the random window placement design that we're seeing in a lot of architecture today. I don't want a glass box, and I don't mind asymmetry, but I just....don't like this look.

Talk to our fellow poster Candyailes about that.

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Just curious: When developers release renders and specs for a building like this that includes an unnamed hotel, do they usually already have a deal in place with a hotel? Or do they announce the project and renders first as a way to dangle a carrot for the potential hotel tenant? 

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A few more details:

- The hotel lobby in HRI's proposed building would be located on the sixth floor, above the parking garage.

- A restaurant and bar also will be located on the sixth level. 

- Retail spaces along Commerce Street, where the apartment lobby would also be located.

-No word yet on  costs and the financial backers. 
 

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2019/08/12/new-orleans-developer-purses-downtown-high-rise.html?iana=hpmvp_nsh_news_headline
 

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9 hours ago, markhollin said:

- The hotel lobby in HRI's proposed building would be located on the sixth floor, above the parking garage.

This fairly common. But still weird to me

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