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markhollin

New Heights District, office, retail, residential over 3 blocks in Chestnut Hill area, $400 million

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I have the basic outline on the map, however I will get everything updated here in a bit. I need to determine who owns what in the area, because they own no where near all of the properties if they want to re-invent this area. 

They have a good start.

Gilbert, McLaughlin, Casella is no stranger to Nashville as they have done numerous projects here. http://www.gilmc.com/

The container project is MEL/ARCH out of Fort Worth. Lots of cutting edge stuff and a similar project in FT Worth as well. https://www.melarch.com/projects

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Mark covered a few of the highlights of the article and here are a few others and some are repeated. I was a little concerned before reading the article if they had agreements with the rest of the property owners and it seems they do. Again, this is another large mixed use, multi-acre project for Nashville. The success or failure IMO depends on how close they are to the core. Nashville is going to have to step it up as far as population growth to support all of these projects. Nashville is still significantly behind Austin & Charlotte. source world population review.

Nashville

2020 Growth Rate

0.31%

Growth Since 2010

11.97%

Austin

2020 Growth Rate

1.23%

Growth Since 2010

25.03%

Charlotte

2020 Growth Rate                                                                                                                                                                                                                                                                                                                                              1.85%

 

Growth Since 2010

23.77%

The two companies already own or control about 8 acres of the 20-acre area, with negotiations ongoing with multiple property owners.

 

The initial $100 million round of development, detailed below, includes a 31,000-square-foot building entirely leased to New York-based co-working operator Serendipity Labs, additional office space and an apartment complex.

 

Speedwagon Capital and Mainland plan to build a range of office space, allowing a tenant to graduate all the way up to future planned top-grade Class A office high-rises.

 

The two companies enlisted Nashville's Hawkins Partners and Manuel Zeitlin Architects to craft a district-wide concept of what could be built. Potential high-rises could sit closest to the highway, with "softer and smaller" building designs moving south toward the City Cemetery, Larish said.

 

The properties already are zoned to allow a total of a few million square feet of commercial space. Over many years, Larish forecasts as much as $400 million of investment — including hundreds of additional apartments — could occur in New Heights (which lends its name in an agreement with New Heights Brewing Co., which will remain in operation).

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