1010 Church Street (60 story/750', 500 unit residential tower, 7 story/60,000 sq. ft. YMCA addition), $350 million

[nashville born]

Wow...

[titanhog]

I’m thinking Tony believes he’s going to make bank with apartments / condos next to 5000+ Amazon employees.  Seems he’s ramping everything up to beat out all the rest to fill his 3 buildings within a block of Amazon.

[downtownresident]

5 hours ago, titanhog said:

I’m thinking Tony believes he’s going to make bank with apartments / condos next to 5000+ Amazon employees.  Seems he’s ramping everything up to beat out all the rest to fill his 3 buildings within a block of Amazon.

Don’t forget 2,500 Asurion employees just down Church Street. 

[smeagolsfree]

13 hours ago, MLBrumby said:

Grading permit?  Wait! What?  This one is getting underway?  I'd expected a demolition permit for the YMCA first. 

I see this a lot. They will apply for a grading permit well before a demo permit. The demo permit can usually be signed off and issued within 24 to 48 hours from what I have seen.

[nashville born]

7 hours ago, titanhog said:

I’m thinking Tony believes he’s going to make bank with apartments / condos next to 5000+ Amazon employees.  Seems he’s ramping everything up to beat out all the rest to fill his 3 buildings within a block of Amazon.

[smeagolsfree]

Construction cost are rising now along with interest rates too. This may have an effect on a number of projects as far as sooner rather than later .

[jjbradleyBrooklyn]

1 hour ago, smeagolsfree said:

Construction cost are rising now along with interest rates too. This may have an effect on a number of projects as far as sooner rather than later .

This is what I read late yesterday, too. I'm hoping not, but I think 2022 could be a pivotal year for economic conditions in the US. Hoping a lot of projects get started that are waiting to, in terms of these skyscrapers, sooner rather than later, to beat out a slow down with the economy, potentially.

[Armacing]

3 hours ago, jjbradleyBrooklyn said:

This is what I read late yesterday, too. I'm hoping not, but I think 2022 could be a pivotal year for economic conditions in the US. Hoping a lot of projects get started that are waiting to, in terms of these skyscrapers, sooner rather than later, to beat out a slow down with the economy, potentially.

Yeah but I don't think they are racing against a slow-down, but rather trying to get a head of commodity/fuel inflation and rising interest rates.

[samsonh]

8 hours ago, Armacing said:

Yeah but I don't think they are racing against a slow-down, but rather trying to get a head of commodity/fuel inflation and rising interest rates.

.

Edited March 18, 2022 by samsonh

[Luvemtall]

11 hours ago, Armacing said:

Yeah but I don't think they are racing against a slow-down, but rather trying to get a head of commodity/fuel inflation and rising interest rates.

These are likely the same conditions that started popping up right before he was about to start construction on Signature Tower , back in 2007-2008. He’s probably thinking..Not again! I’m getting that tall boy built!

[Plasticman]

Keep in mind when that Signature Tower was being proposed Nashville wasn’t on fire and an “it” city like now.   Big projects trickled in once every five years.  Now there’s literally dozens of projects being built at any one time.  Recession or not I can’t see Nashville slowing that much.  

[OnePointEast]

11 minutes ago, Plasticman said:

Keep in mind when that Signature Tower was being proposed Nashville wasn’t on fire and an “it” city like now.   Big projects trickled in once every five years.  Now there’s literally dozens of projects being built at any one time.  Recession or not I can’t see Nashville slowing that much.  

Sort of with CoVId, maybe. A small slowdown but not an absolute stop on projects. Nashville just has too much momentum going for it.

[Pdt2f]

13 minutes ago, Plasticman said:

Keep in mind when that Signature Tower was being proposed Nashville wasn’t on fire and an “it” city like now.   Big projects trickled in once every five years.  Now there’s literally dozens of projects being built at any one time.  Recession or not I can’t see Nashville slowing that much.  

Plus the recession that killed Siggy was caused by a real estate bubble popping, not inflation or fuel prices. 

[nashville born]

1 minute ago, OnePointEast said:

Sort of with CoVId, maybe. A small slowdown but not an absolute stop on projects. Nashville just has too much momentum going for it.

I hope this holds true.  This YMCA tower would absolutely be a game changer!

[jjbradleyBrooklyn]

4 hours ago, Plasticman said:

Keep in mind when that Signature Tower was being proposed Nashville wasn’t on fire and an “it” city like now.   Big projects trickled in once every five years.  Now there’s literally dozens of projects being built at any one time.  Recession or not I can’t see Nashville slowing that much.  

These are great points! Nashville has moved from a "music city" destination with insurance and healthcare industries back then in 07/08, to a red hot, booming economic powerhouse today in 2022, that is easily in a small handful of "IT" cities right now.

I would bet this skyscraper gets built. Especially with Amazon right next door, and all of the tech/digital/corporate relocations to Nashville in general right now.

3 hours ago, Pdt2f said:

Plus the recession that killed Siggy was caused by a real estate bubble popping, not inflation or fuel prices. 

Right! As long as the red hot demand is there for residential in downtown Nashville, I think this gets built.

With Giarratana's successful track record of skyscraper construction recently, this would be his crowning achievement, and I bet his team is determined to make this one happen.

Edited March 18, 2022 by jjbradleyBrooklyn

[Licec]

I agree with everyone here. For the past year the nation's economy has been going downhill. And it looks like the decline is accelerating even more than it did in '21. This is in stark contrast to the way things were in '19 and even '20. Hopefully Nashville's developments won't decline because of the current economy.

Edited March 18, 2022 by Licec

[ruraljuror]

18 minutes ago, Licec said:

I agree with everyone here. For the past year the nation's economy has been going downhill. And it looks like the decline is accelerating even more than it did in '21. This is in contrast to the way things were in '19 and even '20. Hopefully Nashville's developments won't decline because of the current economy.

What metrics are leading you to believe that the US economy is in worse shape over the last year + than in 2019 and 2020?  Seems to me just about all the numbers would indicate the opposite is true.

GDP for example grew by over 5% in 2021, which is more than twice the rate it grew in 2019.  In 2020, the GDP actually shrank by more than 3%. 

Further, unemployment rates were sky high in 2020 for obvious reasons as well, but you may be surprised to learn that the US unemployment rate in March of 2019 was 3.8% which is exactly where it is today.

I certainly share your hopes that neither the Nashville nor the US economy will be declining in the future, but regardless of what happens in the future, seems to me that the data about the last couple of years is pretty clear.

[titanhog]

44 minutes ago, ruraljuror said:

What metrics are leading you to believe that the US economy is in worse shape over the last year + than in 2019 and 2020?  Seems to me just about all the numbers would indicate the opposite is true.

GDP for example grew by over 5% in 2021, which is more than twice the rate it grew in 2019.  In 2020, the GDP actually shrank by more than 3%. 

Further, unemployment rates were sky high in 2020 for obvious reasons as well, but you may be surprised to learn that the US unemployment rate in March of 2019 was 3.8% which is exactly where it is today.

I certainly share your hopes that neither the Nashville nor the US economy will be declining in the future, but regardless of what happens in the future, seems to me that the data about the last couple of years is pretty clear.

We're in a weird situation that I’m not sure we’ve ever quite been in before, at least in my lifetime.  Coming out of a major shutdown with a pandemic and then rebuilding an economy with bad inflation and supply issues worldwide…yet not enough houses or autos to fulfill the needs…and of course, other supply issues as well.  I’m honestly not sure where the economy goes longterm.  If the Fed plays the cards right and we can diminish inflation a bit, we could actually be sitting pretty in a year or two…but there’s a lot of “haves and have nots” right now with some people holding a lot of disposable income…and others bleeding out because of inflation.  And we still have some potential unforeseen issues if the current war spreads.

Strange times right now.  Some numbers good…some numbers bad.

[ruraljuror]

18 minutes ago, titanhog said:

We're in a weird situation that I’m not sure we’ve ever quite been in before, at least in my lifetime.  Coming out of a major shutdown with a pandemic and then rebuilding an economy with bad inflation and supply issues worldwide…yet not enough houses or autos to fulfill the needs…and of course, other supply issues as well.  I’m honestly not sure where the economy goes longterm.  If the Fed plays the cards right and we can diminish inflation a bit, we could actually be sitting pretty in a year or two…but there’s a lot of “haves and have nots” right now with some people holding a lot of disposable income…and others bleeding out because of inflation.  And we still have some potential unforeseen issues if the current war spreads.

Strange times right now.  Some numbers good…some numbers bad.

Good points good post all around. 

[Brichar4]

Really great perspective from the NashvilleNowNext write up, shows the true scale this project will have compared to Prime and Alcove and even the first two Amazon towers!

 

https://nashvillenownext.com/2022/04/19/editor-notes-tony-giarratana-talks-about-his-tower-trio-at-networking-dinner/

[nashville born]

This one...800 Lea...1001 Church...The Ritz...Pinnacle...and hopefully, Tishman...

Like the Jeffersons back in the day, we're moving on up!

Please, Nashville, green light them ALL.

[Luvemtall]

Just those you mentioned will change the skyline!! And there’s more!! We are definitely moving on up.

Tishman has Nashville project listed on their website as First and KVB. Unfortunately no renderings or info yet. But positive none the less

Edited April 20, 2022 by Luvemtall

[Luvemtall]

[PillowTalk4]

I read somewhere that developers in places like DC and NY are locking in building material prices for their projects to curb the impact of rising supply cost.  Is it possible that Tony could be doing the same since he will have multiple projects under construction when this one starts?  There is a risk of incurring a penalty on a supply contract that is unfilled, but apparently some developers are willing to take the risk to minimize cost increases due to rising supply costs.

I know how this works from a supply chain management perspective in manufacturing .  When I worked with a large telecommunications company we had commodity managers that forecasted supply needs and then contract managers negotiated supply contracts to fulfill needs for multiple years to ward off cost increases and reduce cost to manufacture our  products.  Maybe someone with more insight into construction supply chain management can shed more info on how this works.

[nashville born]

If I have to call Tony twice a day to beg for this one, my only question would be, what's his number?!!