Alcove/900 Church St., 34 stories/418 ft., 356 apts, $160 million

[MLBrumby]

1 hour ago, Bos2Nash said:

Totally understand the desire to go apartments versus condos. Not having to deal with pre-sales and the resultant requests for customization on each condo.

$160 million though??? Pennies in the development world. We are looking at approximately $350 a square for a luxury apartment building. I would expect $450 to $500 per square foot for actual luxury apartments. Wasn't someone mentioning on here about the disappointment in the level of finish for the 505 tower. Are we looking at an overpromised-underdelivered product here? To put things in perspective, I am working on municipal job, non-sprinklered, wood framed building that is 12,000 square feet and it is going for about $210 per square foot.

It doesn't have a garage to add to the costs.  But I'd expect it'll be even a step down from 505. If I were to rent an upscale apartment in the middle of a sunbelt city with no public transportation, I'd for sure insist on having a garage under the building. I've heard Mr. Giarratana plans to negotiate with a nearby garage for residents who want one, but that still means they'll need to step out in the elements. So for those reasons, I believe this will be very very midrange. 

Edited July 30, 2020 by MLBrumby

[donNdonelson2]

14 minutes ago, MLBrumby said:

It doesn't have a garage to add to the costs.  But I'd expect it'll be even a step down from 505. If I were to rent an upscale apartment in the middle of a sunbelt city with no public transportation, I'd for sure insist on having a garage under the building. I've heard Mr. Giarratana plans to negotiate with a nearby garage for residents who want one, but that still means they'll need to step out in the elements. So for those reasons, I believe this will be very very midrange. 

And we need variety in price range for housing folks with different needs and incomes. Bring it on, Mr. G!

[smeagolsfree]

42 minutes ago, MLBrumby said:

It doesn't have a garage to add to the costs.  But I'd expect it'll be even a step down from 505. If I were to rent an upscale apartment in the middle of a sunbelt city with no public transportation, I'd for sure insist on having a garage under the building. I've heard Mr. Giarratana plans to negotiate with a nearby garage for residents who want one, but that still means they'll need to step out in the elements. So for those reasons, I believe this will be very very midrange. 

I think he will eventually have another garage across the street when his other building is finished. Besides, I think there will eventually be a lot of parking at Nashville Yards.

[Armacing]

18 hours ago, MLBrumby said:

this will be very very midrange. 

I think Tony is smart to shoot for lower price point and bare-bones finish in the units.  My theory is that a lot of upper class customers will switch to sprawling suburban estates in the wake of coronavirus.

[titanhog]

1 hour ago, Armacing said:

I think Tony is smart to shoot for lower price point and bare-bones finish in the units.  My theory is that a lot of upper class customers will switch to sprawling suburban estates in the wake of coronavirus.

Will that fit a certain segment of Amazon workers?  I would imagine the location would be perfect for them.

[Armacing]

3 hours ago, titanhog said:

Will that fit a certain segment of Amazon workers?  I would imagine the location would be perfect for them.

If I recall, only a fraction of the positions at Amazon (in Nashville) will pay in the 6-figures.

[JoeyX]

42 minutes ago, Armacing said:

If I recall, only a fraction of the positions at Amazon (in Nashville) will pay in the 6-figures.

 

Then how is the average salary 150K?

[Armacing]

3 hours ago, JoeyX said:

 

Then how is the average salary 150K?

We've never actually seen any official documents from Amazon saying that, have we?  Maybe that is all of Amazon including Seattle.  Nashville is only getting the logistics center of excellence.  There will be a lot of clerical positions with regular middle-class wages.  Maybe a few engineers.  Possibly only a handful of senior-leadership and executive positions.

[Bos2Nash]

Honestly, I'm expecting Tony will aim for a $2.50 to $3.00 a square foot on these units (which is in the ballpark of what 5th and Broad is going for). This will put studios in the ballpark of $1,250 to $1,500 for studios (500 SF) and going up. This is based on looking at what The Cumberland (roughly $2.00/SF), 505 ($2.94/SF) and 5th & Broad ($3.32/SF) is going for on Apartments.com.

[Sean blackdog]

I noticed from Wikipedia List of tallest buildings in Nashville. Is that Under Construction start now??? 

[smeagolsfree]

That is because a foundation permit has been issued. There is no construction equipment on site as of Saturday. He jumped the gun just a little, however I would love to know who it is because he is doing a great job of keeping the list updated.

If you are the wiki guy reading this PM me!

[titanhog]

2 hours ago, smeagolsfree said:

That is because a foundation permit has been issued. There is no construction equipment on site as of Saturday. He jumped the gun just a little, however I would love to know who it is because he is doing a great job of keeping the list updated.

If you are the wiki guy reading this PM me!

Ron...are you sure you aren't taking a sip of whiskey every night and forgetting about updating Wiki? 

[smeagolsfree]

Just now, titanhog said:

Ron...are you sure you aren't taking a sip of whiskey every night and forgetting about updating Wiki? 

LOL, I wish I could take credit, but this guy is doing a bang up job. I no longer have the patience but the whiskey taste good!

[markhollin]

A new rendering that includes both 900 Church and 801 Church has been released by Tony Giarratana. Since it includes each tower, I am posting on both threads.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21142935/image-released-for-two-giarratana-towers

Looking east along Church Street Viaduct:

[Sean blackdog]

Holy smokes, Death pool on top of tower. 

Edited August 22, 2020 by Sean blackdog

[MidTenn1]

Amazing how fast 70+ floors of residential development gets bumped down to the middle of the second page.... but here's a needless bump back up. My dramatic take on the two towers...sorry Tony.

[chris holman]

This is why I love Tony he does not Give up on his dream even when the city somtimes tries to block his grand visions

[downtownresident]

Here’s a wide angle shot through the fence of the site. Work hasn’t yet started. From this morning: 

[markhollin]

From NBJ: Tony Giarratana has hired AECOM as the general contractor for 801 Church St. and 900 Church St.

[MLBrumby]

Will both go up at the same time?

[smeagolsfree]

59 minutes ago, MLBrumby said:

Will both go up at the same time?

Kinda looking that way.  We already knew AECOM was the GC for 801 Church but Brasfield Gorrie was to have been the GC for 900. So, it may be they decided to go with one GC to simplify the process and build the projects at the same time.

[Plasticman]

2 hours ago, smeagolsfree said:

Kinda looking that way.  We already knew AECOM was the GC for 801 Church but Brasfield Gorrie was to have been the GC for 900. So, it may be they decided to go with one GC to simplify the process and build the projects at the same time.

So how much more likely does the “hiring a contractor” step make this project?

[smeagolsfree]

You can hire people all day long, but you have to get a loan to start the project. I am sure they just signed the paper work, but if there is no loan and no project then there is an out.

[nashvylle]

1 hour ago, smeagolsfree said:

You can hire people all day long, but you have to get a loan to start the project. I am sure they just signed the paper work, but if there is no loan and no project then there is an out.

This ^^^. If you remember, TG had a general contractor hired for Signature Tower. 

[smeagolsfree]

The project manager was a week or so from moving to Nashville. It was very close to a start.