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

[markhollin]

^ ^ ^ This image from a Metro filing shows a piece of the "South Greenway" section of public space planned at Oracle Corp.'s River North East Bank campus.
 

[lmc123]

On 4/28/2022 at 4:40 PM, markhollin said:

^ ^ ^ This image from a Metro filing shows a piece of the "South Greenway" section of public space planned at Oracle Corp.'s River North East Bank campus.
 

Any update on the Oracle development? This was posted about 10 weeks ago.

[lmc123]

Pedestrian bridge permit filed. Estimated construction to begin in one year. Would mimic a single-sided suspension bridge deck design similar to one in Columbus, Ohio.
https://www.bizjournals.com/nashville/news/2022/07/28/oracle-pedestrian-bridge.html

Edited July 28, 2022 by lmc123

[markhollin]

A pedestrian bridge linking Germantown and the waterfront near Oracle Corp.'s planned Nashville tech campus could open in 2025 and feature a distinctive design with cables only on one side.

Those details are disclosed in a permit application that Terracon Consultants Inc., working for Oracle, has filed with the state Department of Environment and Conservation.

Construction on the bridge, for pedestrians and bicyclists, could begin in May 2023 and end in June 2025, according to Terracon's filing.

A final bridge design is expected in September or October, at which point Oracle would bid the work to contractors, the filing notes. Agencies such as the Tennessee Department of Environment and Conservation, the U.S. Army Corps of Engineers and the U.S. Coast Guard are among those with oversight or input into the bridge plans.

While designs are still preliminary, the permit filing describes the intended concept as an "arch structure with a single-sided suspended bridge deck design." That verbiage indicates a look similar to this pedestrian bridge in a suburb of Columbus, Ohio, in which cables only run on one side of the bridge.

The bridge over the Cumberland River would land in Germantown on a spur-road at the intersection of Adams and Taylor streets, between The Griff apartment complex and the rear of the Neuhoff mixed-use development.

On the East Bank, the bridge would land adjacent to a planned roundabout bordering Oracle's campus and next to this mixed-use development under construction by MRP Realty and Creek Lane Capital.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/07/28/oracle-pedestrian-bridge.html

This is the bridge near Columbus,  Ohio:

 

[MLBrumby]

Looks similar to the concept drawings of the ped bridge formerly proposed over the RR tracks in the Gulch.  

[Bos2Nash]

We shall see.... I am not imagining a tower element included in the bridge, but that is just my "uninformed" thought

[PaulChinetti]

This will be a pretty great connection, bring on more!

I hope it has some design to it and it's not a boring flat bridge. 

[smeagolsfree]

Me thinketh the NBJ may have jumpeth the gunneth on this story!

[markhollin]

Oracle has filed for preliminary permits on the pedestrian bridge and riverside greenway.
 

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/permit-patrol-8-august-2022/article_e9d96022-1506-11ed-9ebc-3bcaad52f9f1.html

[markhollin]

Oracle's founder/chairman, Larry Ellison, is shaping the design for the riverfront campus.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/08/23/larry-ellison-oracle-campus-planning.html

[lmc123]

Any movement on this?

[smeagolsfree]

Oracle laying off employee's 

https://www.newschannel5.com/news/after-nearly-a-quarter-billion-in-promised-taxpayer-dollars-oracle-looks-to-be-carrying-out-layoffs

[WebberThomas4]

It’s unfortunate for those employees, but I am not concerned about this long term. A lot of major tech companies are laying off employees - it’s not unique to Nashville or Oracle. 
 

Tech companies are typically the canary in the coal mine when a recession is looming. I think that’s what we are seeing here. 

[PaulChinetti]

Oracle made $10.5 Billion in revenue last quarter. They are dumping people to appease shareholders. They will be fine and this will continue as if nothing has happened. 

[Flatrock]

I've heard (anecdotally) that it's several hundred in Nashville, most of whom have relocated from out of state this year (mainly Cali). This will absolutely have an impact on Nashville, IMO.  

In related news - Amazon reports Q3 earnings after the bell today. It'll be interesting to see how they're faring, and potentially how that might affect us.

As @WebberThomas4  mentioned - big tech is a bellwether and harbinger of the broader economy. 

[dmillsphoto]

34 minutes ago, PaulChinetti said:

Oracle made $10.5 Billion in revenue last quarter. They are dumping people to appease shareholders. They will be fine and this will continue as if nothing has happened. 

DINGDINGDINGDINGDING

[andywildman]

5 hours ago, WebberThomas4 said:

Tech companies are typically the canary in the coal mine when a recession is looming. I think that’s what we are seeing here. 

 

5 hours ago, Flatrock said:

As @WebberThomas4  mentioned - big tech is a bellwether and harbinger of the broader economy. 

My $0.02: tech companies have been chasing top-line growth (more volume, more users, more sales) regardless of how much cost they added, because debt was cheap and capital was flowing.

Now that rates are rising, companies and owners that were fine with losses in pursuit of users (largely tech companies) are tightening their budgets and pursuing profitability via lower costs.

Oracle's latest filings show revenues up 14% year over year, but costs up 40%, meaning their income is down vs last year. They - like most tech companies - are reducing headcount to get costs in line with revenue.

[lmc123]

Oracle pays $23M for more land in River North. Site of possible pedestrian bridge landing.

https://www.bizjournals.com/nashville/news/2022/12/15/oracle-corp-river-north-23-million.html

[applebees615]

Very exciting and reaffirming of their commitment to Nashville. Am I correct thst this was the site of landings part II?


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[downtownresident]

37 minutes ago, applebees615 said:

Very exciting and reaffirming of their commitment to Nashville. Am I correct thst this was the site of landings part II?


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It was part of the land assembled by Creeklane for the Landings. I believe this was part of the third phase where an office tower was to have gone. 

[smeagolsfree]

11 hours ago, downtownresident said:

It was part of the land assembled by Creeklane for the Landings. I believe this was part of the third phase where an office tower was to have gone. 

Puts their 2nd phase to bed.

[MidTenn1]

Hastings Architects has posted a sampling of some of their projects on Instagram and included was a conceptual (?) layout of River North including the Oracle Campus which I haven't seen before. The rendering is very detailed and includes a park, canals, the pedestrian and vehicular tunnels under I-24 and the pedestrian bridge and a not previously announced vehicular bridge over the Cumberland. And it looks like a ramp will be constructed from Cowan Street to I-24.

From the description of the rendering on Instagram;

Quote

River North – 125-acre master plan and UDO has catalyzed the anticipated radical transformation of the East Bank

I wonder how up-to-date this is. 

Edited January 2, 2023 by MidTenn1

[MidTenn1]

Here are a few pages from the ARAP application for approval of a pedestrian bridge. The full application can be found here if you scroll to item 22 on the 'Search all Documents' in the box in the upper right. It is labeled 'Application Package'. It is a large PDF file and will download directly to your computer or phone. Be advised.

 

 

The red line is my marking,

 

Edited January 2, 2023 by MidTenn1

[smeagolsfree]

17 hours ago, MidTenn1 said:

Hastings Architects has posted a sampling of some of their projects on Instagram and included was a conceptual (?) layout of River North including the Oracle Campus which I haven't seen before. The rendering is very detailed and includes a park, canals, the pedestrian and vehicular tunnels under I-24 and the pedestrian bridge and a not previously announced vehicular bridge over the Cumberland. And it looks like a ramp will be constructed from Cowan Street to I-24.

From the description of the rendering on Instagram;

I wonder how up-to-date this is. 

That site plan clearly shows areas that have yet to be sold and are still owned by Monroe. The vehicular connection into Germantown has not been talked about for some time either. I think this is an old plan to be honest.  I am also pretty sure the Oracle project will not have near that many buildings.

[WebberThomas4]

 

A permit submitted yesterday for an Oracle owned building on Cowan. Notice at the bottom that it says the building will be demolished in 18 months or August of 2024.