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smeagolsfree

NBJ Looks to 2006

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There is a lengthy article in the NBJ this week about 2006 developments and maybe a little prediction.

The article is about 8 pages long so I am going to post the link and let you pull out what you want. The first section deals with The Ragland Group and the Stadium. Another one half way through talks about Tony Giarattana's development and the last article talks about Alex Palmer and the WES.

http://nashville.bizjournals.com/nashville.../09/story1.html

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Interseting WES info on the last page per NBJ

"In 2005, his Alex S. Palmer & Co. sold Burton Hills IV in Green Hills to Archerd-Bell Investment Group for $29 million, or $215.20 per square foot, one of the top deals of the year. While Palmer sold that one, he pulled another flagship building in Midtown, Palmer Plaza, off the market.

The real estate community's collective eyes also turned toward Palmer's burgeoning projects: Gateway II, a 120,000-square-foot, class-A office building in Maryland Farms, and West End Summit, a mixed-use development on West End Avenue.

Some skeptics have said Palmer can't pull off the latter: It's unneeded office space, they say, and lease prices will be too expensive.

But Palmer has proved them wrong before. And he has Wachovia toting the hefty $200 million note for the project, slated to include a 250-room luxury hotel, 60 condos, high-end retail, restaurants, and - oh, yes - a 550,000-square-foot, class-A office tower.

There's no anchor tenant yet, and consequently, Palmer hasn't broken ground. But market watchers in Nashville know Palmer has beaten the odds before and just might do it again."

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I like the concept of a residential band extending around from Music Row all the way to the Cumberland River, a real 24 hour downtown. That's something that's could definitely be realized, and be a wonderful development for Nashville.

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The only problem with this is that the new CC site will interfere with the new Gateway Blvd. At least that is what it looks like if they take all 6 blocks for the CC or if it even gets done. The master plan for Gateway Blvd was to have it link up with I 40. I don't think they will ever complete that , but they do have plans at this time to extend it to 8th Ave S.

Someone may know a little better than me, but is it not suppose to come in to 8th somewhere around the Greyhound Terminal? I will see if I can find something myself with the proposed route.

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The plan to extend Gateway further than 8th is gone. We planners decided that yet another major thoroughfare wasn't in the best interests of their vision for SoBro, the road was modified from a six-lane pedestrian unfriendly link to the west to the 4 lane boulevard with wide sidewalks and planted medians. At best, I think the road may extend eventually to 8th, but that will be some time into the future. At the rate the beleaguered road has been nearly completed even to 4th (as the mayor said during the housing summit, "when was it started, a 125 years ago?), an even two-block extension to 6th may be tough for the immediate future. There is a great need for the road to 8th, but at this point I'll take the 4th completion as it is. So many pieces of the puzzle will fall into place when the thermal sites future is determined. That in itself, will help dictate how quickly the roadway is further funded. If the CC is built, I'm sure the roads will be modified accordingly.

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