Reed District: 8 towers ranging from 8 to 44 stories (500'?), 1.5 million sq. ft. office space; 1,000 residential units; 150K sq. ft. retail space; 250 room hotel on 12 acres at NE corner of Broadway and 16th Ave. North

[nashville born]

On 11/7/2021 at 6:12 AM, markhollin said:

The Reed District as it looks now from the ONE22ONE tower (courtesy of Martin B. Cherry of NBJ):

Looking at this photo, it's as if the existing Midtown developments in the background is saying empower us, Reed District!!!!  Connect us to the Gulch and downtown!!!

Edited November 10, 2021 by nashville born

[Nathan_in_DC]

13 minutes ago, nashville born said:

Looking at this photo, it's as if the existing Midtown developments in the background saying empower us, Reed District!!!!  Connect us to the Gulch and downtown!!!

If/when it happens, I really hope they make it much easier to cross the interstate as a pedestrian. It's a horrible experience right now.

 

 

 

...or they could just cover it with a park and be done with it...

[AUNash]

Beating a dead horse probably, but a cover over the interstate from Demonbreun to Church would be so impactful.

[ruraljuror]

On 11/8/2021 at 7:49 AM, smeagolsfree said:

I can't say much right now as I have heard some rumors that are sort of relo/expansion. It's hard to explain. 

GE Healthcare? Once the news breaks, so can Smeagol's silence, right?

https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation-healthcare-and-energy.html

[smeagolsfree]

Who knows, that would be a good one for sure! They are currently based in Chicago.

[ruraljuror]

6 minutes ago, smeagolsfree said:

Who knows, that would be a good one for sure! They are currently based in Chicago.

 

So you've heard about another potential relocation/expansion that is hard to explain?  What're the odds?!?!

Who knows, indeed.

 

[markhollin]

A new rendering of the pocket park in the Reed District (on the north side of Hayes St. ) courtesy of NashvilleNowNext.

More info here:

https://nashvillenownext.com/2021/11/29/7-7-million-square-feet-of-must-see-development-in-midtown-nashville/

Looking NW with Hayes Street  in the lower left corner:

What it looks like currently:

A partial view of the site on the north side of Broadway, looking NW:

[Rick Dalton]

Love to see it. In my opinion Nashville’s #1 priority during this boom should be encouraging more downtown green space. Many parts of town now feel like concrete slabs. The new park in the Gulch is a good example of a massive green space improvement.

[nashville born]

13 minutes ago, natethegreat said:

Love to see it. In my opinion Nashville’s #1 priority during this boom should be encouraging more downtown green space. Many parts of town now feel like concrete slabs. The new park in the Gulch is a good example of a massive green space improvement.

...then #2 (IMO) should be traffic infrastructure (extensive widening of roads) and/or mass transit.

[smeagolsfree]

I think this was a new rendering too from NNN!

[markhollin]

^ ^ ^ We had this one on Nov. 5th.   : )

[smeagolsfree]

I missed that one. Must have been asleep.

[markhollin]

We kinda veered off from discussing the Reed District into discussing mass transit....so I moved all of those posts over to the Transportation and Mass Transit thread.   : )

[markhollin]

Hines has purchased another .2 acre surface lot parcel at 1510 Hayes St. for $2.6 million. This is another small piece of the overall 11 acre site being planned.

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/01/03/hines-closes-on-more-midtown-land.html

[markhollin]

The three parties that were embroiled in disputes over one of Nashville’s prominent development sites have resolved the legal matter and dismissed the case, according to recent court filings.

Attorneys for Hines Investment Management Holdings LP, Martin Management Group and Jim Reed Automotive Inc. filed a signed “agreed order of dismissal” notice on Jan. 5, according to Davidson County Chancery Court documents.

The measure concerns land parcels at 1406-1408 Broadway, one slice of Jim Reed Automotive's larger 11-acre site, part of which Hines has already closed on. The Houston developer and Martin Management each said it had rights to the Broadway property in legal complaints filed last year. In November, Hines released plans for nearly 3 million square feet of commercial mixed-use district there.

With both lawsuits resolved, Hines now has a major obstacle removed from closing on the rest of the 11-acre site, for which it has been under contract since early 2020.
 

More at NBJ here:

https://www.bizjournals.com/nashville/news/2022/01/18/reed-lawsuit-resolved.html?utm_source=st&utm_medium=en&utm_campaign=me&utm_content=na&ana=e_na_me&j=26412582&senddate=2022-01-19

[markhollin]

Hines continues to whittle-away on purchases within the footprint for the Reed District with an $875,000 purchase for a tiny .05 acre property at 131 15th Ave. North that features a nondescript 1 story structure that has been sitting empty for years. It had been previously purchased for $150,000 in 2001. 

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/houston-developer-buys-again-in-midtown/article_dd565ff6-9efc-11ec-9d33-97f577715a03.html

[colemangaines]

41 minutes ago, markhollin said:

$875,000 purchase for a tiny .05 acre property

$17.5 million/acre, that's crazy.

[Bos2Nash]

While yes that is a crazy price, we have to remember that that really isn't where the "market" is at. These are obviously inflated due to Hines wanting to complete the block and essentially making offers folks can't refuse. 

[nashvylle]

51 minutes ago, colemangaines said:

$17.5 million/acre, that's crazy.

That is where the market is. Look at Tidal real estate. 

[titanhog]

When all is said and done, how much of that “block" (Broadway to Church…15th to 14th) will / could be owned by Hines?

 

Oops…realize I left out the majority of the land…it actually goes from 14th to 16th…right?  Sorry about that. :-)

Edited March 8, 2022 by titanhog

[TheSound]

Hard to say but I sure hope that they're in talks to get the White Castle property.  It's not officially in their current plans, but I'm sure they would like to have it.

[smeagolsfree]

The block just to the left of White Castle is included in the Reed footprint. I have heard the Dairy may be under contract but do not know who. The White Castle lot is for lease build to suit. Height limit is 15 stories and that is SAD. 

I do think you will be seeing some height limits changed in this area with additional SP's and at some point, a zoning changed.

[PillowTalk4]

12 minutes ago, TheSound said:

Hard to say but I sure hope that they're in talks to get the White Castle property.  It's not officially in their current plans, but I'm sure they would like to have it.

Noooooooo!!!  That White Castle's is an institution for that corner.  LOL!!!

I know I'll be in the minority on this, but I actually won't mind if the White Castle remains.  There needs to be at least one cheap eats, gut busting fast food spot in the area.  That being said, I won't be upset either if it goes away.  It would be cool to have some type of 24 hour spot within that area, right off the interstate.  Kind of like The Varsity in Atlanta.  Hey, Whataburger... here's your chance to have a downtown/mid-town presence... I can see a big  gleaming off of I-40 already... 

[Luvemtall]

Only if it’s a lobby level Whataburger, with 14 Floors of office/ residential above it!

[UrbanWes03]

2 hours ago, Luvemtall said:

Only if it’s a lobby level Whataburger, with 14 Floors of office/ residential above it!

Exactly! And while they’re at it, do the same with McDonald’s on Broadway.