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NewTowner

Signature Tower

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

I'm curious where you're from Mississippi b/c I wonder if you've been to Nashville lately. It's seeing development at a jaw-dropping pace. I travel a lot in the Southeast, and I'd have to say that at this moment, Nashville appears to be growing at a faster rate than the other majors (all anecdotal of course).

What's even more amazing to me is that I'm somewhat familiar with the mindset of developers there. Compared to Atlanta and other recent "boom towns", the developers there are much more conservative (and they still tend to be in these heady times). I'd guess that even Tony Giarratana is conservative compared to our guys here. Sure, interest rates are always a concern, but they are on much shorter cycles than the development cycle for massive developments like this. Additionally, there will not be a housing bust in virtually all sectors of Atlanta, Charlotte, Nashville, et. al. in the foreseeable future. This much I'm sure of.

Based on what I've heard and read from the UDC and DT Partnership, there is a conservative demand for around 650 units per year for the next 5-7 years. Don't know the numbers that Tony's looking at, but it's my sense that at least a third of the demand he's seeing for Signature is pent-up. Assuming that, I'd say he's counting on the rest to fill up based on the annual demand projections plus untapped demand from empty nesters. Just from looking at my father's situation, he bought a condo in a hi-rise at Lenox when he retired three years ago. Many of his sixty-something friends have done the same.

One more thing about Giarratana. I've been skeptical in the past, but he keeps on delivering. I think most ppl here would acknowledge his marketing genius and drive. I've just about come to the point where I'm sure this thing will come out of the ground and no later than January. He's moving quite fast on this.

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I'm curious where you're from Mississippi b/c I wonder if you've been to Nashville lately.

originally from Mississippi...haved lived in Nashville for the past 4 years.

Don't get me wrong, I'm all about downtown Nashville thriving. In my opinion though, there are many factors to making this happen. A bunch of egotistical skyscrapers won't get it done.

A better school system would certainly help downtown Nashville/Davidson Co. compete with Cool Springs. Okay, I'll stop there...

If everyone thinks we'll just continue to develop 1000' buildings and fill up downtown with units the majority of people can't afford, so be it. Sounds like a great sustainable future for us.

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I think most of us agree that skyscrappers alone will not create the urban dynamic we are seeking. But as you can see with all the other low and mid-rise projetcs the Signature is just one of many developments that together will enhance the city.

I do believe it is a different market segment. Only one person out of ten in my d'town building is looking at the possibility of moving to the Signature. It is a different type of living better suited towards the baby boomer and post baby boomer crowd as well as second homes for affluent out of towners and celebrities.

Apples and Oranges in my mind but I agree taht I want a good mix of developments and incomes.

As for the school system already too much good money is thrown after the bad in this system. With the exception of a few magnet schools (MLK, HF...) the system would be without any victories. When I moved here I was amazed at the number of private schools...I now see why they thrive.

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The people I see buying condos in the Signature are musicians, Titans and Predators Players, empty nest businessmen and women that work downtown, doctors and you always need a couple of lawyers.

Nashville and the surrounding area have a lot more high end type people than many cities its size and somewhat larger. There is a lot of wealth here. Remember Williamson county is like the 10th wealthiest county in the nation, not to mention communities like Belle Meade and Forest Hills. I think there is plenty of a market for this end of the spectrum.

There will also be people who have a home in several cities. For example I think Dolly has a home in Sevier County, LA, and here. She may have more than that. There are a lot of music types that would have a condo here just because the can afford it and do not want to stay in a hotel. Many high dollar musicians and performers have homes in LA and NY.

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According to the ST promotional email I just got, floorplans and a price list will be available on the ST website on Saturday. I guess we'll find out the price points soon enough...

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According to the ST promotional email I just got, floorplans and a price list will be available on the ST website on Saturday. I guess we'll find out the price points soon enough...

That will be sweet! I'm sure they will reveal the entire Paradigm Productions renderings, video, and such then as well. I'm very curious as to what the price points will be. I suspect that they will seem cheap to people who have priced super highhise condos in other cities. The more I think about what's happening here... the robust market which Tony G. himself describes as unprecedented, the dropping of the TIF grant indicating that he does not need it for this project, the fact that 940 people are now registered for only 400 units, the fact that people from all over America are expressing interest in buying in Signature....the more I feel that this is virtually certain to get built!!!!! :yahoo:

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That will be sweet! I'm sure they will reveal the entire Paradigm Productions renderings, video, and such then as well. I'm very curious as to what the price points will be. I suspect that they will seem cheap to people who have priced super highhise condos in other cities. The more I think about what's happening here... the robust market which Tony G. himself describes as unprecedented, the dropping of the TIF grant indicating that he does not need it for this project, the fact that 940 people are now registered for only 400 units, the fact that people from all over America are expressing interest in buying in Signature....the more I feel that this is virtually certain to get built!!!!! :yahoo:

Stay tuned. Putting the final tweaks on the video. It will go live on Saturday if we get the final green light from Tony.

There will also be another video to follow in the very near future with a slightly different focus.

I need to verify with Tony which new skyline shots he wants to go public.

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There will also be another video to follow in the very near future with a slightly different focus.

Hmmm.... is this a hint that we have more surprises to come?

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I think just maybe, Tony may break ground on this before January. Just my opinion, but if the sales go fast then that could draw a hotel even faster.

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MDHA has approved the design per Richard's story. Also a small rendering from the promo video.

http://www.nashvillepost.com/news/2006/5/1...re_tower_design

CONGRATULATIONS TONY--GREAT NEWS, AWESOME WORK!!! AND CONGRATULATIONS AS WELL TO EVERYONE ON THE MDHA BOARD FOR THEIR CONTINUED SUPPORT OF DEVELOPERS THAT KNOW HOW TO MAKE THE MOST OF MARKET OPPORTUNITIES THAT ARE GOOD FOR OUR GREAT CITY. :D

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Wow! Thats about all I can say.

Be the first to see the new website - notice the links at the bottom - interactive plans, virtual tour and gallery.

We posted it about an hour ago.

http://www.signaturetowernashville.com/

Another video will come out in the near future with more focus on the exterior. Stay tuned!

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Be the first to see the new website - notice the links at the bottom - interactive plans, virtual tour and gallery.

We posted it about an hour ago.

http://www.signaturetowernashville.com/

Another video will come out in the near future with more focus on the exterior. Stay tuned!

Charles T. Gaushell, AIA

Managing Partner

Paradigm Productions, LLC

www.2dimes.com

Wow! Great site! I downloaded the Flash 8 software, and the interactive floor plans are awesome. The pricing is pretty much in line with what I expected. Very, very upscale. Man, would I love to have one of those pads on Floors 55 to 58. Anybody have a spare $1.5 Mil they want to give me?

The video was great, and the views from near the top are breathtaking. But, where was the dancing Elvis? LOL.

The tower is mindboggling! I'm almost speechless! It is so incredibly tall! It's the kind of development a skscraper lover can only dream about, and now it's practically a reality. Nashville will definitely need a 700+ Ft tower in the future to help balance the skyline off.

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Wow! Great site! I downloaded the Flash 8 software, and the interactive floor plan are awesome. The pricing is pretty much in line with what I expected. Very, very upscale. Man, would I love to have one of those pads on Floors 55 to 58. Anybody have a spare $1.5 Mil they want to give me?

The video was great, and the views from near the top are breathtaking. But, where was the dancing Elvis? LOL.

If you figure out how to get someone to give you 1.5m let me know!

No dancing Elvi this time - at least yet. But you never know what is around the corner.

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Beautiful work, Charles. Congratulations on a job well done. :good: It looks BEAUTIFUL!!! I especially like the view from I-65 looking North...

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Now that the new website has been posted, I thought I might share some interesting info on Signature Tower as my company is working on some of the engineering.

Looking at my drawings:

-Signature Tower is 1052' 2" above ground level, not sure if the 5 ft. difference from the press release is of any real consequence, but there you go.

-From ground level to base plate (that is, the lowest level of the parking structure) is 110' 0". Base plate elevation is 386 ft. above sea level, while the Cumberland River pooling elevation is 385 ft. ASL, only one foot below. This will be the deepest building excavation ever in Nashville.

-Sig has 9 parking levels, 1 primary service level, 70 above ground levels (60 single-story units and 5 2-story Townhome units), plus 1 rooftop mechanical level. In all, there are 81 accessible levels.

-Speaking of elevators, Signature Tower has 15 of them in all. 7 Service elevators (3 serving the hotel, 2 serving the lobby and amenity levels, and 2 serving the residential tower levels), 2 Hotel Guest elevators, 3 Low Rise elevators serving floors 14-37, and 3 High Rise elevators serving floors 38-65.

-Core construction is steel-reinforced concrete with steel supported reinforced concrete floorplates.

Just some tidbits for your enjoyment.

Based on the amount of work that's been put into the design of this building--it's ready to be constructed now save for geotechnical site studies and some wind tunnel load tests--it become fairly obvious that Tony Giarrattana is VERY SERIOUS about building Signature Tower.

-Sean

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Now that the new website has been posted, I thought I might share some interesting info on Signature Tower as my company is working on some of the engineering.

Looking at my drawings:

-Signature Tower is 1052' 2" above ground level, not sure if the 5 ft. difference from the press release is of any real consequence, but there you go.

-From ground level to base plate (that is, the lowest level of the parking structure) is 110' 0". Base plate elevation is 386 ft. above sea level, while the Cumberland River pooling elevation is 385 ft. ASL, only one foot below. This will be the deepest building excavation ever in Nashville.

-Sig has 9 parking levels, 1 primary service level, 70 above ground levels (60 single-story units and 5 2-story Townhome units), plus 1 rooftop mechanical level. In all, there are 81 accessible levels.

-Speaking of elevators, Signature Tower has 15 of them in all. 7 Service elevators (3 serving the hotel, 2 serving the lobby and amenity levels, and 2 serving the residential tower levels), 2 Hotel Guest elevators, 3 Low Rise elevators serving floors 14-37, and 3 High Rise elevators serving floors 38-65.

-Core construction is steel-reinforced concrete with steel supported reinforced concrete floorplates.

Just some tidbits for your enjoyment.

Based on the amount of work that's been put into the design of this building--it's ready to be constructed now save for geotechnical site studies and some wind tunnel load tests--it become fairly obvious that Tony Giarrattana is VERY SERIOUS about building Signature Tower.

-Sean

Thanks for the insider information Sean! VERY VERY COOL STUFF. Congrats to your team as well for what must have been a great deal of work. The building looks awesome!

How long will the wind load tests take? Is that being done in Huntsville, or Tullahoma, or someplace else? Seems like years ago I heard of an engineer & architect team that used some of the aerospace industry's wind tunnels when they were working on a building. They put a scale model in a facility normally used for engineering aircraft to test how the wind would flow around a building. Anyway, very cool work. Thanks again for the great info...

OH YEAH--

Really glad you checked in at UP and gave some cool info. Here's another question for you. As far as you know now, will the Signature Tower have one or two cranes at the jobsite, and do you know what type they will be?

Hope to see more posts from you soon!

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Great details, thanks to all for your posts!!!

The sooner I see some ground turning the better!!

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Quick Question for the neophyte. What is on floors 59-62? Is this where the mechanics are located?

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If the Signature Tower is built as planned, Metro should pass a new zoning law for downtown mandating all future developments must be at least 700 feet tall, lest Nashville's skyline look ridiculous forever.

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Quick Question for the neophyte. What is on floors 59-62? Is this where the mechanics are located?

14,15, 38, 39 and 59 are townhome floors. These have not been released yet. I believe they will come out next week.

60, 61 and 62 will be released later too - penthouses

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I was wondering if anyone was able to view a larger version of the different renderings in the gallery section of the Signature website. All of the pictures are small and when I click on them nothing happens so I was wondering if that was just normal. I really want to get a better close up of the renderings.

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