Oracle, 60 acres at River North, 1,200,000 sq. ft. of space, $1.2B Investment, 8,500 jobs

[Flatrock]

17 minutes ago, downtownresident said:

Oracle’s thing are these spread out campuses, I’m grateful it’s next to downtown, and that it will drive dense development of the East Bank, instead of driving more sprawl in Williamson Co. 

THIS!!! I'm totally glass half-full  on this HUGE announcement. What an amazing 'Get' for our city! What a seemingly excellent win-win deal our city has struck. This is fabulous. 

[titanhog]

45 minutes ago, markhollin said:

 

 

Are they actually going to dig a canal to make a little “river” through the campus off of the Cumberland? 

[MLBrumby]

Great news!  Whatever Oracle puts there will be a major upgrade from the warehouses there now. Also, don't forget the Landings will showcase a nice riverfront (actually the closest in view from downtown).  And being a regional HQ is very major b/c it will include jobs from all divisions of the company.  There will also be nearly that many more indirect jobs created to support Oracle et.al.  That will create a significant bump in air passengers in/out of BNA.  

Now if only the state could get a joint technology effort from all area universities to support Amazon, Asurion, Oracle, etc.  A specialized education hub for CS (Vandy), Telecom (TTU/UT), Electronics/EE (UT), Logistics (TSU), Cloud/Media (TTU/Belmont/TSU),  etc.   My perfect location would be the TSU Avon Williams campus. 

[smeagolsfree]

Bear with me as this is all rather confusing and we still do not know all of the moving parts. From what I gather from the map that was on the TN  site and the parcel viewer< i can roughly figure out where the campus will sit if those were correct.

The large areas in blue that are directly north of Top golf that front Cowan that are currently getting infrastructure upgrades are part of the campus as well as the part that sticks up with the thumb towards I 65. The are east of that still would be owned by Monroe. The two areas that are in blue that when you go to my map are noted as Oracle add up to around 60 acres. That seems to jive with the TN map.

Now there is one area that is know as parcel B that is owned by Creek Lane that stick up to the north of there parcels I had not had on the map. The areas that are not highlighted are still owned by Monroe.

[downtownresident]

Some more reporting from the NBJ, detailing the timeline of River North/Oracle: https://www.bizjournals.com/nashville/news/2021/04/14/timeline-how-oracle-and-river-north-converged.html?ana=twt

Key upcoming dates:

April 27th, scheduled public hearing by the Metro Development Board to discuss/vote on the arrangement. 
May 4th, Metro Council votes on tax sharing plan. 

Edited April 14, 2021 by downtownresident

[Binbin98]

42 minutes ago, MLBrumby said:

Great news!  Whatever Oracle puts there will be a major upgrade from the warehouses there now. Also, don't forget the Landings will showcase a nice riverfront (actually the closest in view from downtown).  And being a regional HQ is very major b/c it will include jobs from all divisions of the company.  There will also be nearly that many more indirect jobs created to support Oracle et.al.  That will create a significant bump in air passengers in/out of BNA.  

Now if only the state could get a joint technology effort from all area universities to support Amazon, Asurion, Oracle, etc.  A specialized education hub for CS (Vandy), Telecom (TTU/UT), Electronics/EE (UT), Logistics (TSU), Cloud/Media (TTU/Belmont/TSU),  etc.   My perfect location would be the TSU Avon Williams campus. 

I suppose this is Oracle’s version of HQ2.

Regardless of how it look in the renderings I do think this will be a good get for Nashville, however if I were living in East Nashville right now I would be considerably concerned about rents skyrocketing. The addition of a major tech campus like this on the east bank is surely going to increase growth in that section of the city tremendously, and unfortunately it’s extremely likely that residents in the projects on the east bank will be forced out sooner than later. I wouldn’t be surprised in the least if those buildings were replaced by shiny new apartment towers. I’m happy for the growth in East Nashville but remember it doesn’t affect everyone equally.

[CandyAisles]

I wouldn't describe this as HQ2.  It likely will be as impactful as Austin.  I think Austin is simply a "location" for tax purposes and optics (closer to California).

 

Looking forward to poking through the interstate at Cleveland and Grace Street.  My guess is that Grace Street becomes the pedestrian throughway that could carry on towards the proposed pedestrian bridge...maybe dying into the Nuehoff development at Taylor Street?  Those familiar with that Germantown project know that a bridge would be super impactful here.

[MLBrumby]

I wonder if TDOT will move up its plans to widen I-24 through there.  I seem to recall 2024-2027 as the current schedule.  The timetable for Oracle is 9 years. 

[bigeasy]

I like it! 

I don't really understand the disappointment people have with these not being taller. I personally don't think Nashville needs height on this side of the river, esp not right now.  A "Cool Springs" style campus is perfect for over there in my opinion. It drastically improves what is there, and provides at least some bump up in the density.

[OnePointEast]

27 minutes ago, MLBrumby said:

I wonder if TDOT will move up its plans to widen I-24 through there.  I seem to recall 2024-2027 as the current schedule.  The timetable for Oracle is 9 years. 

Wait, what? Never knew this. Do you have any information over it?

Edited April 14, 2021 by OnePointEast

[markhollin]

More on the Oracle incentives at NBJ here:

https://www.bizjournals.com/nashville/news/2021/04/14/heres-how-oracles-incentives-would-work.html


More from NBJ on how the Oracle campus will spur East Bank activity:

https://www.bizjournals.com/nashville/news/2021/04/14/east-bank-reaction-to-oracle-hub.html


Oracle says the Austin campus is blueprint for Nashville vision.  More at NBJ here (including slide show of Austin location):

https://www.bizjournals.com/nashville/news/2021/04/14/oracle-nashville-austin-hq.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=0#cxrecs_s


NBJ: How Oracle would rank among the biggest jobs deals in state history--and how it stacks up to Amazon's announcement:

https://www.bizjournals.com/nashville/news/2021/04/14/oracle-ecd-jobs-deals-amazon.html?cx_testId=40&cx_testVariant=cx_34&cx_artPos=0#cxrecs_s


Also, a crisper rendering:

[nashvylle]

Alright @PillowTalk4 I'm going to get you excited-

Jobs lead to exiting towers, even if the jobs themselves are not in exiting towers. 

The design of Amazon's two office towers were not exciting. But 5K jobs lead to exciting ancillary development (aka 801 Prime, 900 Church, Gibson Residences, Flank Hotel etc.). None of those aforementioned towers would be under construction right now without Amazon, in my opinion. 

8,500 jobs over 10 years in the core is amazing for any city... and I believe will also lead to more exciting development outside of River North, such as Nissan Stadium and TA Trucking Site, down the street from River North and directly across the river from CBD. Personally I wouldn't want Nashville to look like it has two downtowns (like Houston in some ways), but a centralized core where all the excitement is and urban neighborhoods around the core (Germantown, River North, Wedgewood Houston, midtown, etc.). 

I am sure you like all the towers rising in Austin... not as many towers would be constructed without Oracle (among other companies) in Austin, despite its boring office design. 

8,500 jobs in CBD could lead to some insane traffic would could in some ways inhibit growth in the CBD, but River North is in a particular area that won't lead to traffic inside the core. 

We currently have close to 15K-20K jobs over the next 10 years... so take the office park design outside the core for creative design inside the core.

[BnaBreaker]

41 minutes ago, bigeasy said:

I like it! 

I don't really understand the disappointment people have with these not being taller. I personally don't think Nashville needs height on this side of the river, esp not right now.  A "Cool Springs" style campus is perfect for over there in my opinion. It drastically improves what is there, and provides at least some bump up in the density.

Personally, I'm thrilled we're likely landing this, and I don't have any problems with it in terms of height or design or anything like that.  I get that they wanted a campus environment, and an 'office-in-a-park' sort of set up is what comes with that.  This is probably an ideal spot for a development of that type.  I just figured for that $1.2 billion price tag that there'd be more to it than three moderately sized low rise buildings, a parking garage, and a park.  But maybe the rendering is not yet complete, or maybe infrastructure work makes up a big chunk of that total.  I don't know.  

[TheRaglander]

1 minute ago, BnaBreaker said:

Personally, I'm thrilled we're likely landing this, and I don't have any problems with it in terms of height or design or anything like that.  I get that they wanted a campus environment, and an 'office-in-a-park' sort of set up is what comes with that.  This is probably an ideal spot for a development of that type.  I just figured for that $1.2 billion price tag that there'd be more to it than three moderately sized low rise buildings, a parking garage, and a park.  But maybe the rendering is not yet complete, or maybe infrastructure work makes up a big chunk of that total.  I don't know.  

Agreed.  Generally these new build-outs for large IT firms aren't massive towers.  There is nothing appealing for companies like these with massive towers where your employee base is scattered among dozens of floors.  As an employee, a beautiful campus (like this one ) with a freakin' river running through it is far more appealing because I like to take breaks and enjoy the outdoors during work.  Look at Apple and the Google HQ.  All "wide and short".   Don't get me wrong though... lets see a 700' residential or hotel tower!

[Armacing]

4 hours ago, samsonh said:

The C suite stays in California, they move back office and jobs that require less talent and less pay to Tennessee.  California is doing just fine. Tennessee would be well served trying to incubate our own talent to be able to create our own Fortune 500 companies, it requires substantial investments in education to do so. 

We just need California to pass that net worth tax they have been talking about.   Maybe that will shake loose a few executives...

[nashvylle]

20 minutes ago, BnaBreaker said:

Personally, I'm thrilled we're likely landing this, and I don't have any problems with it in terms of height or design or anything like that.  I get that they wanted a campus environment, and an 'office-in-a-park' sort of set up is what comes with that.  This is probably an ideal spot for a development of that type.  I just figured for that $1.2 billion price tag that there'd be more to it than three moderately sized low rise buildings, a parking garage, and a park.  But maybe the rendering is not yet complete, or maybe infrastructure work makes up a big chunk of that total.  I don't know.  

I imagine that’s just the look of the campus for initial 2,500 employees. You can’t fit 8,500 people in those buildings even if they were standing side by side 

[smeagolsfree]

59 minutes ago, OnePointEast said:

Wait, what? Never knew this. Do you have any information over it?

Here is what I can find as far as TDOT/I 24 related and scheduled projects.

271 Project Nashville 2035 RTP TDOT Nashville Ellington Parkway Widening Widen Ellington Parkway (SR 6) from 4 to 6 lanes from North 1st Street to Boardmoor Drive Exit 44 - Exit 47 Corridor Capacity Congestion 1 2035ID = 1012-218, FY 2016 - FY 2025

 

176 Project Nashville 2035 RTP TDOT Nashville I-24 at North 1st Street Interchange Construct HOV ramps to and from I-24 and CBD at North 1st Street, Exit 47 Exit 47 Operational - Interchange Modification Accessibility & Congestion 1 2035ID = 1014-211, FY 2016 - FY 2025 

 

177 Project Nashville 2035 RTP TDOT, Metro Nashville Nashville I-24 Additional Lanes I-24 Additional Lanes from I-24/I-65 junction (S of Fern Avenue) to Trinity Lane. Replace underpass to accommodate 6 lanes in each direction. Exit 46 - Exit 87 (I-65), MP 45 for I-24 MP 45 - Exit 46 Roadway Capacity Congestion 1 2035ID = 1012-152, FY 2026 - FY 2035

 

173 Project Nashville 2035 RTP TDOT, Metro Nashville Nashville I-24 Additional Lanes I-24 Additional Lanes (4 to 6) from I-65 to Old Hickory Boulevard (SR-45), Exit 40 - Exit 44 Exit 40 - Exit 44 Roadway Capacity Congestion 1 2035ID = 1012-245, FY 2016 - FY 2025

 

[PillowTalk4]

29 minutes ago, nashvylle said:

Alright @PillowTalk4 I'm going to get you excited-

Jobs lead to exiting towers, even if the jobs themselves are not in exiting towers. 

The design of Amazon's two office towers were not exciting. But 5K jobs lead to exciting ancillary development (aka 801 Prime, 900 Church, Gibson Residences, Flank Hotel etc.). None of those aforementioned towers would be under construction right now without Amazon, in my opinion. 

8,500 jobs over 10 years in the core is amazing for any city... and I believe will also lead to more exciting development outside of River North, such as Nissan Stadium and TA Trucking Site, down the street from River North and directly across the river from CBD. Personally I wouldn't want Nashville to look like it has two downtowns (like Houston in some ways), but a centralized core where all the excitement is and urban neighborhoods around the core (Germantown, River North, Wedgewood Houston, midtown, etc.). 

I am sure you like all the towers rising in Austin... not as many towers would be constructed without Oracle (among other companies) in Austin, despite its boring office design. 

8,500 jobs in CBD could lead to some insane traffic would could in some ways inhibit growth in the CBD, but River North is in a particular area that won't lead to traffic inside the core. 

We currently have close to 15K-20K jobs over the next 10 years... so take the office park design outside the core for creative design inside the core.

Okay ... 

To be clear I absolutely think this is great  for Nashville.  My disappointment is strictly with the development concept.  Nothing else.  Nashville should welcome and embrace Oracle to the fullest.  This opportunity will create higher paying jobs, increase job opportunities for grads representing all the major universities in Nashville and throughout TN.  It will bring additional hi-tech companies to Nashville as well.  Further increasing job opportunities.  So, I'm not at all knocking Oracle for choosing Nashville.  I was just hoping that we would see more in terms of their campus than what they've presented.  That's all. 

It's kind of hard to get the vision for River North out of my head and see it watered down to this concept.  Granted, there will be room for additional development around the Oracle campus.  I just hope that will help fulfill the River North vision as it was conceptually depicted.

[nashvylle]

5 minutes ago, PillowTalk4 said:

It's kind of hard to get the vision for River North out of my head and see it watered down to this concept.  Granted, there will be room for additional development around the Oracle campus.  I just hope that will help fulfill the River North vision as it was conceptually depicted.

Take the original renderings for River North and place them around Nissan Stadium, TA Trucking site, and CBD. 

[nashville born]

So many perspectives; each one valued.  I am excited to see Nashville land this major tech player AND the EIGHT THOUSAND FIVE HUNDRED jobs AND the economic impact all that brings.   Population growth (in addition to more traffic) increases the tax base which in turn funds more services and better infrastructure, etc.  So many positives IMO.  Restaurants, hotels, bars, entertainment venues, and, as Nashvylle said, more exciting towers will certainly follow.  Either that or Nashville's homeless rate is about to go through the roof.  

Perhaps many of us, myself included, were enamored with the possibilities, especially after seeing the initial conceptual renders for River North.  Now we're dealing with a sort of psychological bait and switch.  While Oracle's arrival signals a likely death knoll to that fantasy, I'm choosing to focus on the new fantasy it's arrival brings.  Here's hoping a BUNCH of those 8,500 want that downtown life.  That means Alcove, Prime, and 805 Lea might soon be joined by the 37-story Linux Place, the 50-story Cloud View, and 809 Lea.  Shucks, who knows...Paramount anyone???

Giddy-up!

Edited April 14, 2021 by nashville born

[Luvemtall]

Signature tower? ...... 

[nashville born]

11 minutes ago, PillowTalk4 said:

It's kind of hard to get the vision for River North out of my head and see it watered down to this concept.  Granted, there will be room for additional development around the Oracle campus.  I just hope that will help fulfill the River North vision as it was conceptually depicted.

Just the point I was making.  I think many of us are feeling that disappointment.  No harm in that at all.

[bigeasy]

What would a develop like this do for housing in town? Any speculation into what areas of town a typical employee for this would like to live in? Just assuming we hit the 8,500 number, then I would assume you have 8,500 additional houses. Does this impact mostly Davidson county our would you see people living in Williamson, Wilson, etc?

[PillowTalk4]

15 minutes ago, nashvylle said:

Take the original renderings for River North and place them around Nissan Stadium, TA Trucking site, and CBD. 

I like that.  But I was hoping for the entire East Bank to be developed with mid rise and high rise buildings intermingled the entire distance.

[titanhog]

I would imagine just having Oracle and Amazon in Nashville will spur A LOT of new tech jobs…with more office towers and residential towers announced over the next 5 years.