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

[DDIG]

15 minutes ago, smeagolsfree said:

Well he didn't mess around. Now his new Economic Development Guy can bring in the next big fish. "We're gonna need a bigger boat"!

Some premium office space available around town. Would be nice to grab a few to fill up some of our current buildings.

Edited May 5, 2021 by DDIG

[downtownresident]

State incentives will top $100 million per Bob Rolfe. 
 

More from the NBJ here: NBJ

Now when is the announcement? 

[DDIG]

12 minutes ago, downtownresident said:

State incentives will top $100 million per Bob Rolfe. 
 

More from the NBJ here: NBJ

Now when is the announcement? 

To solve the great tunnel debate, looks like TWO tunnels. One for pedestrians, one for cars.

[markhollin]

The state of Tennessee is pitching-in more than $100 million in incentives and related spending to help secure Oracle's new Nashville campus.  About $60 million of this will be in the form of a jobs grant. Another $38.4 million will be to pay for the two connections (Grace St. and Cleveland St.) underneath the I-24 inner belt. 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2021/05/07/tn-oracle-incentives-ecd-tdot.html

[smeagolsfree]

2 hours ago, DDIG said:

To solve the great tunnel debate, looks like TWO tunnels. One for pedestrians, one for cars.

Might as well put a police precinct at both ends of the Grace St. tunnel. That will be a muggers paradise.

[jkc2j]

This will be very transformative for the Dickerson Pk. area. Can imagine the road from about North 1st St. and Spring St, all the way to Trinity Lane to be completely revamped.

Edited May 7, 2021 by jkc2j

[donNdonelson2]

3 hours ago, smeagolsfree said:

Might as well put a police precinct at both ends of the Grace St. tunnel. That will be a muggers paradise.

Alert some of our city’s finest songwriters...I’ll “donate” this line (for a writing credit & some “mail box money”).

”I’ve seen both ends of grace in a muggers paradise.”

Three chords and the truth! 

[markhollin]

Oracle finishes buying all the parcels for their 60 acre campus at River North.  Total purchase price of $254 million.

More at The Tennessean here:

https://www.tennessean.com/story/news/2021/06/02/oracle-nashville-riverfront-development/7513883002/


At NBJ here:

https://www.bizjournals.com/nashville/news/2021/06/02/oracle-closes-on-east-bank-land.html


And behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/oracle-spends-more-than-253m-on-river-north-property/article_f36a64d6-c3dd-11eb-ad2e-e32b1898f861.html

[OnePointEast]

A quarter of a billion dollars for land. Damn!

[DDIG]

25 minutes ago, OnePointEast said:

A quarter of a billion dollars for land. Damn!

So he sold for $253 mil to Oracle, I think $42 mil to the first purchaser, and still has around 30 acres left to sell? Not a bad flip. 

[rolly]

And wasn't that quarter billion dollars of land just under flood waters?

[titanhog]

3 hours ago, rolly said:

And wasn't that quarter billion dollars of land just under flood waters?

Yep…2012, right?

[smeagolsfree]

I am sure they are well aware of that. They must have a plan!

[downtownresident]

Just now, smeagolsfree said:

I am sure they are well aware of that. They must have a plan!

Yep, no one drops a quarter of a billion dollars without some way to counteract the flood threat. 

[Buildtall]

I would imagine it will be like Atlantic station in Atlanta. 

[titanhog]

Oracle offices built like this will take care of the flooding problem. 

 

[Cadelfins]

9 hours ago, titanhog said:

Oracle offices built like this will take care of the flooding problem. 

 

Now that's funny. Thank you I needed that this morning.

[smeagolsfree]

Welcome to the forum Cadlefins! You can always count on the unexpected here. 

Where in world did you find that one Titan? Looks like something they did in China I would expect. It is rather cool.

[PaulChinetti]

I imagine they will install a flood wall or something like downtown was going to do but quickly forgot about after the last flood.  
 

Which then will make the flooding worse everywhere else. 

[titanhog]

4 hours ago, smeagolsfree said:

Welcome to the forum Cadlefins! You can always count on the unexpected here. 

Where in world did you find that one Titan? Looks like something they did in China I would expect. It is rather cool.

Google search. I think it’s either a proposal or actual build in Miami.

[smeagolsfree]

7 hours ago, PaulChinetti said:

I imagine they will install a flood wall or something like downtown was going to do but quickly forgot about after the last flood.  
 

Which then will make the flooding worse everywhere else. 

I think it will be more like creative architecture. I think there will be raised structures with parking below, so if anything does get flooded it will be parking only. No reason to displace more water than you need to with a wall. I think that is what you will see with a lot of the newer structures on the Eat bank. 

The developers know the risk and they will plan for the worst case scenarios. Garages are a feature that can easily be flooded without a lot of damage and can be easily repaired. 

[titanhog]

In the plans, there is a canal that runs inland.  Would that displace enough flood waters to make a difference?

Edited June 6, 2021 by titanhog

[smeagolsfree]

I am not an engineer, so I do not know. That is a question for someone a lot more educated than myself.

[AsianintheNations]

2 hours ago, titanhog said:

In the plans, there is a canal that runs inland.  Would that displace enough flood waters to make a difference?

I thought about that, but the canal would equilibrate to the same water level as the river itself and would have negligible effect on the overall height of the river. I would imagine that when the river floods, so would the canal, unless it has some manner of diverting water e.g. to a bypass or some sort of storage reservoir (there's nothing existing for it to connect to, so it'd just be a water cul-de-sac by default). The canal could help with draining stormwater to prevent accumulation if the surrounding parking lots and buildings drain into it, but that doesn't address the river level rising and basically flooding based on elevation. Similarly with adding more vegetation that could absorb more of the rain than non-permeable surfaces, which also would not address the river level rising. The bottom line is that the source of the water causing the elevated river level is basically the entire drainage basin upstream.

So the ways I can think of to stop the East Bank from flooding during very heavy, concentrated rainfall would be (1) make changes to the Old Hickory Dam so that it can be used to manage flooding downstream (I don't think that is what it's designed for, but it could serve that purpose), (2) building a wall to keep back floodwaters and hope it doesn't get breached, (3) raise the elevation of the land as a whole and/or the buildings (via stilts), or (4) create a diverting floodway for the Cumberland River (example: https://en.wikipedia.org/wiki/Red_River_Floodway which diverts water away from Winnipeg that would otherwise flood the city). (1) and (4) would require political will and a lot of $$$, so I would imagine (2) or (3) would be the actually feasible options. As @PaulChinettipointed out, the water has to go somewhere, so flooding in other locations would be worse. Option (5), they could do absolutely nothing to mitigate the risk of floods and just pay for good flood insurance, which current renderings would suggest is the default course of (in)action, as there are no such walls, hills, or stilts in the image.

Edited June 6, 2021 by AsianintheNations

[smeagolsfree]

Actually the dams in the TVA system were to created to serve many purposes,  two of which are flood mitigation and  hydroelectricity. By doing these two things it also helped with economic development, river navigation, TVA also developed fertilizers and taught better crop management to farmers as part of the new deal. There are some of the dams have lock systems like Cheatham Dam which is just west of you  by about 15 miles. Interesting to see the barges go  through the lock system there. Cheatham is not part of TVA, but the Corps of Engineers.That pretty much connects Nashville to the Tennessee, Thus the Ohio and the Mississippi rivers. The Tennessee River has a number of locks to raise barges from Paducah  elevation of 302’ to Knoxville at 813’.

When you grow up here, you are a little more familiar with the purposes of this entity. The flooding in the south was a lot worse before the TVA dams were brought into the picture. Sorry for the history lesson. 

9 hours ago, AsianintheNations said:

So the ways I can think of to stop the East Bank from flooding during very heavy, concentrated rainfall would be (1) make changes to the Old Hickory Dam so that it can be used to manage flooding downstream (I don't think that is what it's designed for, but it could serve that purpose), (2) building a wall to keep back floodwaters and hope it doesn't get breached, (3) raise the elevation of the land as a whole and/or the buildings (via stilts), or (4) create a diverting floodway for the Cumberland River (example