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markhollin

The Decade in Review for Nashville: 2010 to 2019

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9 minutes ago, markhollin said:

What an amazing decade this has been for greater Nashville, full of explosive growth, and being named the”The It City” by the New York Times.  Here are just a few highlights:

- Population growth in metro grew 350,000 in 10 years (up to 2 million now), about 21% increase.

- Average income growth $58,500 to 69,000 (up 18%)

- Average home price has gone from $178K to $322K (81% increase in value)

- Airport passengers grew 9,074,000 passengers in 2010 to 18,160,000 in 2019 (100.1% growth)

- Over 70 new hotels

- Total tower cranes up in last 10 years: over 170


 

Buildings of 10 stories or higher topped-out (44):

505 Church Street, 45 stories, 2017
The Place at 5th & Broadway, 35 stories, 2019
JW Marriott, 34 stories, 2018
The SoBro, 33 stories, 2016
Bridgestone Tower, 30 stories, 2017
Pinnacle Tower, 29 stories, 2010
Westin Hotel, 27 stories, 2016
1200 Broadway, 27 stories, 2019
222 2nd Ave. South, 25 stories, 2017
Skyhouse, 25 stories, 2017
Omni Hotel, 24 stories, 2013
1212 Condos, 23 stories, 2014
Grand Hyatt, 23 stories, 2019
TriBrand Marriott, 21 stories, 2018
The Joseph Hotel, 21 stories, 2019
Drury Plaza Hotel, 21 stories, 2019
Kenect, 21 stories, 2019
Element Music Row, 19 stories, 2016
Cambria Suites, 19 stories, 2018
The Morris, 19 stories, 2018
Kimpton Hotel, 17 stories, 2017
Vertis Green Hills, 17 stories, 2018
HCA Parallon, 16 stories, 2016
1201 Demonbreun, 15 stories, 2016
Hyatt House Midtown, 15 stories, 2018
Holiday Inn SoBro, 15 stories, 2018
Virgin Hotel, 15 stories, 2019
Broadstone Gulch,14 stories, 2017
Thompson Hotel, 12 stories, 2017
Margaritaville, 12 stories, 2019
Gulch Crossing, 12 stories, 2015
Aertson Midtown, 12 stories, 2017
Centennial Hospital addition, 12 stories, 2018
Vanderbilt Childrens Hospital addition, 12 stories, 2019
Noelle Hotel addition, 11 stories, 2017
Belmont University Tall Hall/Bruin Hills Dorm, 11 stories, 2018
Hilton Garden Inn, 11 stories 2015
Drury Plaza Hotel, Cool Springs, 11 stories, 2012
Hilton Tru and Homewood Suites SoBro, 10 stories, 2018
Dream Hotel, 10 stories, 2018
HealthStream, 10 stories, 2019
Hampton Inn Capitol View, 10 stories, 2019
One Franklin Place, 10 stories, 2014
Two Franklin Place, 10 stories, 2017

 

Buildings 200+ feet:

1950s: 1
1960s: 3
1970s: 4
1980s: 6
1990s: 1
2000s: 3
2010s: 21
So, more 200+ foot towers (21) in last decade than previous 6 decades combined (18)


Other significant structures:

Music City Center, 2013
First Horizon Ballpark, 2015
Country Music Hall of Fame expansion, 2013
Ascend Amphitheater/Riverfront Park, 2015
Federal Courthouse, 2019
Davidson County Criminal Justice Center, 2019
Tennessee State Museum, 2019
Tennessee State Library, 2018
Cumberland Park, 2013
East Bank Beach, 2015
Korean Veterans Blvd. from 4th Ave. to Music City Circle, 2013
Bronson/Ingram Dorms, Vanderbilt Univ., 2018
Airport Terminal Garages A-C, Admin, Concourse D, International Concourse, 2010-2019
Envision Cayce, first 5 phases, 2019
Belle Grande, 2019
Nashville Zoo expansion, 2019
Hillsboro H.S. Renovation, 2019

31 different $100+ million projects completed.

 

Repurposed/refurbished/adaptive re-use of historical structures:

Ben West Library, 1965, into offices
814 Church Street, 1930, into hotel
Woolworth on Fifth, 1925, into restaurant
Noelle Building, 1929, into hotel
Utopia Building, 1905, into hotel
Werthan Factory, 1915, into lofts/condos
Fairlane Building, 1970, into hotel
Bridge Building, 1919, into offices/event space
James Robertson Building, 1925, into hotel
222 3rd Ave. North, 1922, into hotel
Banner Building, 1925, into apartments
Richards Building, 1920, into hotel
Johnny Cash/Patsy Cline Museums, 1925
The National, 1935
HQ Beercade, 1925
Acme Feed & Seed, 1905
Luke Bryan’s/Jason Alden’s/Taquila Cowboy, 1920
Nudie’s Honkey Tonk, 1915
AJ’s Goodtime Bar, 1917
Mellow Mushroom, 1920
Pancho & Lefy’s, 1890
Dierk’s Bently’s Whiskey Row, 1922
The Valentine, 1918
Ole Reds, 1920
Redneck Riviera, 1928
Moonshine Flats, 1905
The George Jones, 1910
227 2nd Ave. North Building, 1932, into condos
Mad Platter Building, 1905
Trolley Barns, 1915, into office buildings
Nashville Hospital Building/Rutledge Hill, 1928, into apartments
Sevier State Building, 1925, refurbished
Cordell Hull State Building, 1933, refurbished
Highland Yards, 1922, offices/retail
Russell Street Church, 1905, boutique hotel
Tobacco Barn, 1865, condos
May Hosiery, 1920, offices, retail, boutique hotel
The Bell Tower Church, 1930, event space
Sylvan Supply, 1935, office/retail
The Factory Marketplace, 1920, retail, office
Stocking 51, 1940, offices, retail
Turner School, 1932, offices
100 Oaks Mall, offices, retail

In all, at least 25 church buildings have been repurposed


Neighborhood Explosions:

The Gulch: 13 new structures, many rebuilds
12 South: 17 new developments, many rebuilds
Hillsboro Village: 10 new developments, many rebuilds
8th Ave. South: 15 new developments, many rebuilds
Five Points: 8 new structures, many redevelopments
Music Row; 10 new developments, many rebuilds
WeHo: 254 new developments, many rebuilds
Main St. East Nashville: 11 new developments, many refurbished
Eastland/Porter: 5 new developments
Cleveland Park: 6 new developments, many rebuilds
Germantown: 33new structures, many rebuilds
North Capitol: 11 new structures
Rutledge Hill: 11 new developments, many rebuilds
McKissak Park: 19 new developments, many rebuilds
Charlotte Ave./Sylvan Hill: 14 new developments, many rebuilds
The Nations: 24 new projects, many rebuilds
West End Park: 22 new projects, many rebuilds
Green Hills:  15 new developments, many rebuilds

The more that I think about it, the more I feel that Nashville has definitely been the most changed city in all of America during the past decade. I thought about whether or not that title should have gone to Denver or Austin, but both of those cities were already growing fast in 2010, while Nashville was struggling to grow at all after a devastating flood during that year. I was 11 when it happened and remember the economic slump the city was in from 2008-2010, Now Nashville is growing too fast for its own good.

 

I hope for Nashville to grow more responsibly during the 2020s, although the growth was great this decade, it definitely could have been handled better by both the metro government and the mayors (especially recently and excluding Karl Dean). Things that I hope to see in the 2020s in Nashville include a desire by the metro government and the mayor to balance their fiscal budget in ways that don’t negatively affect the city’s growth, less focus on hotels (as we have more than enough both under construction and on the drawing board) and more focus on apartments and retail/grocery stores downtown, and most importantly better infrastructure and mass transit. I cannot stress the last point enough, especially with Amazon basically building their HQ3 here things are going to get real uncomfortable for Nashvillians really fast if nothing is done to improve the road infrastructure, build more bus routes and hopefully rail service, and expand the airport/add more direct flights especially internationally. Anyways, I look forward to the future and seasons greetings from across the pond! 

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4 hours ago, titanhog said:

Numbers that stood out to me were income went up 18% but home prices went up 81%.  

How is that possible? Is that solely due to interest rates making mortgages more affordable?

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2 hours ago, nashwatcher said:

How is that possible? Is that solely due to interest rates making mortgages more affordable?

Maybe some of it is because of the expensive condos downtown?

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On 12/24/2019 at 10:39 PM, donNdonelson2 said:

imageproxy.php?img=&key=c71e87a16cbbfd68imageproxy.php?img=&key=c71e87a16cbbfd68A couple of my photos from June 2009. Study them and ponder the significant change in these vistas in ten years.

BB6F8C9C-87B2-497E-8B01-78CB93972136.jpeg

B38840A1-3054-4128-B0F5-B29E58F1FB11.jpeg

To add to this sentiment, from the Aertson Hotel's website:

nashville-night-ece9af76.jpg

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On ‎12‎/‎24‎/‎2019 at 1:47 PM, nashwatcher said:

How is that possible? Is that solely due to interest rates making mortgages more affordable?

Because some entity or force is artificially constraining the supply of housing.  Now if we could only figure out what or who that is...:D

EDIT:  Actually, I didn't give you enough credit for your guess about interest rates.  It's true that the monetary policy of the US Gov has been very expansionist/inflationary during this past decade.  Most if that inflation is manifested in the form of credit expansion, so more people than normal can afford larger than normal mortgages due to the artificially low interest rate.   But that is only for people with "good" credit who have access to that expanded credit availability.  Nevertheless, I still maintain that he supply of housing is also constrained on top of the inflationary movement of price.  And wages never keep up with inflation the way debt expansion does when the primary means of inflation is low interest rates.

Or stated another way:  The missing statistic is the change in household debt for Nashvillians during that same period of time.

Edited by Armacing
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Average rent in Nashville area grew by 83.4% in the past decade, making it the 7th fastest growth rates in in nation amongst the 50 biggest metro areas according to Zillow.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2019/12/31/nashville-sees-one-of-the-decades-biggest-jumps-in.html?iana=hpmvp_nsh_news_headline

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Yet, the 2001 vs. 2018 photos don't even show the magnitude of the change without SoBro. But then, the that paper's not even based in Nashville anymore... so they may not know about SoBro. 

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It’s amusing to me that they picked the view that is(at this moment)one of the least changed out of the downtown views. The transformation of Sobro and the skyline from the south is the most dramatic at this point, although that will change with the completion of Nashville Yards and all of the development that spurs along.  

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