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Signature Tower

NewTowner

By NewTowner
in Nashville

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Skyscrapergeek Burg

Skyscrapergeek

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Hankster! Hey man we missed you yesterday. We had a good time. Something tells me you're having a better time though. Great pics! :w00t: I love that building. What a view your daughter has. How did she get any work done?

Remember, don't stare directly at the skyline. You might get too geeked up and have a seizure. :shok:

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satalac Burg

satalac

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great pics hankster! and congrats on your daughter graduating! i still can't believe that we are going to get a tower of that scale in little ole nashville. i remember getting excited when the bellsouth tower was getting built. i thought that that was massive when it topped out (this was before i had been to atlanta, then chicago, then new york haha). i can't wait to see it in our skyline.

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chris holman Town

chris holman

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That's what I'm talking about. :thumbsup: It was good to meet you downtown Saturday, Chris. Hope to see you at the next meeting.

Thank's, It was good to meet you to geekster. :D Am happy to have met a Skyscraper lover as myself. If I don't have to work that saturday I will be at the next meet.

Maybe your new Lair could be on the top flour of Signature Tower, so you can always keep a watchful eye on the city. :ph34r:

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Hankster Town

Hankster

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That looks Amazing!!! :D The site finally updated the tower.

Wow! That is an excellent diagram of the Signature Tower. It also gives a very good idea of the scale of the Tower in relationship to Nashville's other skyscrapers. Sig is Huge!!!! According to the diagram (which looks to be at perfect scale with the model) the top floor is over 800 feet over the street level. Imagine that!

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Skyscrapergeek Burg

Skyscrapergeek

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I don't know guys. A lot of detractors on the other threads don't believe this will happen. They say the TIF money won't be there and the condos are even higher priced. Will this exclude too many people?

I'm not worried about this excluding anyone if the demand is there. The TIF would have been there if Tony wanted it. This could be interpreted in a couple different ways. If the response, demand and financing are there without TIF then you could say this is a very good sign. 400 units are not that many too fill. Maybe the word is out on ST and demand is indeed high. However, maybe that's just me and wishful thinking. I guess we need much more info.

As true as it may be, if I have to hear one more naysayer spout the whole "I'm not going to believe it until I see a shovel in the ground...how many 1000 footers have been announced and never built...it's going to stick out like a sore thumb blah, blah, blah, I'm going to :sick: .

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Plasticman Hamlet

Plasticman

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I'm not worried about this excluding anyone if the demand is there. The TIF would have been there if Tony wanted it. This could be interpreted in a couple different ways. If the response, demand and financing are there without TIF then you could say this is a very good sign. 400 units are not that many too fill. Maybe the word is out on ST and demand is indeed high. However, maybe that's just me and wishful thinking. I guess we need much more info.

As true as it may be, if I have to hear one more naysayer spout the whole "I'm not going to believe it until I see a shovel in the ground...how many 1000 footers have been announced and never built...it's going to stick out like a sore thumb blah, blah, blah, I'm going to :sick: .

I'm not a detractor. I'm glad another supertall is going up. But now that the shock and awe is leveling off, realism sets in and we have to take this one step at a time. If Nashville can't get a couple hundred wealthy people to buy some condos in a landmark like that, then the city needs to turn off the lights and go home.

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Skyscrapergeek Burg

Skyscrapergeek

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I'm not a detractor. I'm glad another supertall is going up. But now that the shock and awe is leveling off, realism sets in and we have to take this one step at a time. If Nashville can't get a couple hundred wealthy people to buy some condos in a landmark like that, then the city needs to turn off the lights and go home.

Sorry Plastic, I didn't mean to imply that you are a detractor. I've read your posts on SSP defending ST. I just commented since you brought it up. I agree we have to be very realistic about the situation and that's why it gets old reading about how realistic we need to be from those who probably don't really want to see it built anyway. :blink: The way the news is spreading about ST I think we're talking about more than Nashville as a pool for potential buyers. You're right however, we're about to see what we're made of.

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mississippiyuppie Crossroads

mississippiyuppie

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"I'm not worried about this excluding anyone if the demand is there."

It's too bad that if this thing is built (and this is a BIG IF), it would most likely suck the demand right out of downtown for the next 20 years and we'll still be stuck with the same ol' surface parking lots...nice.

Seems like spreading the demand makes more common sense. It's too bad that people won't realize this until it's too late.

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Lukin Whistle-Stop

Lukin

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"I'm not worried about this excluding anyone if the demand is there."

It's too bad that if this thing is built (and this is a BIG IF), it would most likely suck the demand right out of downtown for the next 20 years and we'll still be stuck with the same ol' surface parking lots...nice.

Seems like spreading the demand makes more common sense. It's too bad that people won't realize this until it's too late.

How in the world are 400 condos going to suck the demand out of downtown for the next 20 years? Rolling Hill Mill alone has over 1,000 in the works...ICON has 400 something (200 of which it sold out of in 48 hours). Just because its 65 stories doesn't mean that this is the most significant downtown development. Compared to RMH, Icon, and whatever is planned for the sounds stadium, signature is really a step down in terms of units. I don't think it is going to be a problem to sell all 400 condos for the tallest building in the south. However, getting it off the ground is where I think we might see a problem...but only time will tell.

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Skyscrapergeek Burg

Skyscrapergeek

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"I'm not worried about this excluding anyone if the demand is there."

It's too bad that if this thing is built (and this is a BIG IF), it would most likely suck the demand right out of downtown for the next 20 years and we'll still be stuck with the same ol' surface parking lots...nice.

Seems like spreading the demand makes more common sense. It's too bad that people won't realize this until it's too late.

Tony is marketing to a VERY specific market. Very high end. How is ST going to "suck the demand right out of downtown for the next 20 years"? Signature Tower is attracting so much attention because people with the means are interested in living in a very unique place. If anything, Tony and buildings like ST are the reasons why there is demand downtown. 400 units are not going to suck the demand out of Nashville. Spreading ST out over several low-rises is not the same product as a tall tower. If the demand is for a tall tower are those same buyers going to willingly live in a small rise if they do not wish to? I doubt it.

"Seems like spreading the demand makes more common sense." How do you propose to do that if that is not where the demand is? Are you going to force them to purchase a home they don't want? If we fill all those surface lots (which are not as numerous as some think) with low-rises, where do we build when we run out of space? Isn't that one of the things that causes the dreaded sprawl?

ST is creating its own market. If there is no ST there are 400 fewer residents downtown. After all, there are many options from which people can choose and ST is just one of those options. Sorry for the rant.

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Plasticman Hamlet

Plasticman

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Sorry Plastic, I didn't mean to imply that you are a detractor. I've read your posts on SSP defending ST. I just commented since you brought it up. I agree we have to be very realistic about the situation and that's why it gets old reading about how realistic we need to be from those who probably don't really want to see it built anyway. :blink: The way the news is spreading about ST I think we're talking about more than Nashville as a pool for potential buyers. You're right however, we're about to see what we're made of.

I have more confidence in this project than in anything "The Donald" plans too build down here. I mean, how thin can Trump spread himself on all these highrise projects? He seems to be planting a tower in every a major city.

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bruceman Whistle-Stop

bruceman

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I have more confidence in this project than in anything "The Donald" plans too build down here. I mean, how thin can Trump spread himself on all these highrise projects? He seems to be planting a tower in every a major city.

Did I miss something somewhere? What is Donald Trump planning here? :wacko:

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Jeeper12 Hamlet

Jeeper12

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I have more confidence in this project than in anything "The Donald" plans too build down here. I mean, how thin can Trump spread himself on all these highrise projects? He seems to be planting a tower in every a major city.

It's my understanding that on deals outside of Chicago and NYC Trump really doesn't run the deal and/or put skin in the game. Rather, he lends his name/brand to the project for $3-4 million and a more local firm runs the deal. In the case of the Atlanta deal that would be Wood Partners. It's curious that Wood would feel the need to pay for this benefit since they are a seasoned condo developer with a long track record. Like Novare, they have not, however, had much experience selling larger and more expensive units to older buyers like Trump has. Selling million dollar units is a different animal than the entry level programs. My sense is that Wood wanted/needed the "insurance" that Trump offered in order to assure them that they could successfully get through the difficult presales that lenders/partners of $250 million plus projects require. It's hard to overstate the difficulty of getting a few hundred buyers to cough up 10% plus of a really big sale number and wait 3 years for it to be delivered. Like him or hate him, Trump is one of the few that can essentially bring those kind of buyers to the table as he has willing investor buyers that will follow him from deal to deal (because he's performed for them in the past). For many of The Donald's friends putting up $150k to make $300k (or more) by selling to a true buyer at the opening of the project is not a stretch.

Hope the post isn't too full of industry speak to be helpful.

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mississippiyuppie Crossroads

mississippiyuppie

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How in the world are 400 condos going to suck the demand out of downtown for the next 20 years? Rolling Hill Mill alone has over 1,000 in the works...ICON has 400 something (200 of which it sold out of in 48 hours). Just because its 65 stories doesn't mean that this is the most significant downtown development. Compared to RMH, Icon, and whatever is planned for the sounds stadium, signature is really a step down in terms of units. I don't think it is going to be a problem to sell all 400 condos for the tallest building in the south. However, getting it off the ground is where I think we might see a problem...but only time will tell.

interest rates...real estate bubble...pop

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Guest

Guest

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While increasing intrest rates can make developers question all residential and/or commercial developments we are in the middle of an unprecidented era of low interest rates and inflation. 6.5% is awesome. :)

In addittion while the Nashville market may at some future date become over heated currently every indicator rates Nashville as an under or at value market. No bubble here. Maybe you meant to post this in the Florida or Arizona forums. ;)

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