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Signature Tower


NewTowner

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I've been following the drama associated with this project for some time now. I assume there is still no news related to this developer finding a loan to build the project. This isn't suprising given the state of the credit market but regardless I'm curious how this project's $500 per square foot prices compare with other projects underway or completed in Nashville. How many large projects have been completed in Nashville commanding average prices of at least $400 per square foot ? Can someone familiar with this market tell me what project is currently the high water mark there in terms of pricing and quality ?

The high water mark for pricing here is the West End Summit. This project is currently in the excavation process. Prices there are a whopping $750 per square foot. Check out the West End Summit thread on this site for details. I beleive the Terrazzo (U/C) is priced at about $400 / Sq Ft.

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Sales are still going, work is still being done, Current Groundbreaking is scheduled for Dec. and all the contracts signed and currently being written up have a clause in it that alows them (Siggy Team) to extend the Groundbreaking to March of 08 if needed, but at this point Dec, Jan is the more realistic time table.

I was also told, This Sundays paper is supposed to have something pretty big pertainting to price incentives.

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IMO, Nashville is in dire need of a luxury hotel. I'd say that the Hermitage is as luxurious a hotel as I've ever stayed (a'la Four Seasons and Ritz), but it's rather small. I know my colleagues in business concur with that, and I've even seen as much stated in articles. So, Palomar and the Intercontinental should do very well when they open. On a side note, I was in DC last week, and for the first time ever, I noticed several Kimpton properties. They looked very nice, even the Monaco looked ultra nice.

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There are several Signature Tower listings on realtracs.com. Some of the listings erroneously advertise the project as "Signature Towers" and include a photo advertised as the view from Sig, when it's actually the view from Encore. For those listings, the agent given is with The Lipman Group Sotheby's International Realty.

Also, it looks like they have a new building model with the revised spire in the sales center.

hr919651-10.jpg

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That is good news. Do you have any information on how many actual contracts he has?

There are several Signature Tower listings on realtracs.com. Some of the listings erroneously advertise the project as "Signature Towers" and include a photo advertised as the view from Sig, when it's actually the view from Encore. For those listings, the agent given is with The Lipman Group Sotheby's International Realty.

Also, it looks like they have a new building model with the revised spire in the sales center.

hr919651-10.jpg

Wow! That looks incredible. I wonder why the fire background?

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Sales are still going, work is still being done, Current Groundbreaking is scheduled for Dec. and all the contracts signed and currently being written up have a clause in it that alows them (Siggy Team) to extend the Groundbreaking to March of 08 if needed, but at this point Dec, Jan is the more realistic time table.

I was also told, This Sundays paper is supposed to have something pretty big pertainting to price incentives.

Great news! I've thought all along that this project would break ground fairly soon. Has anyone heard whether he has lined up a new contractor for the project?

As for the new model, it looks awesome baby! And to think that both the Viridian and L&C are both over 400 Ft high! Wow!

hr919651-10.jpg

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The high water mark for pricing here is the West End Summit. This project is currently in the excavation process. Prices there are a whopping $750 per square foot. Check out the West End Summit thread on this site for details. I beleive the Terrazzo (U/C) is priced at about $400 / Sq Ft.

Thanks for the info but I was actually wondering more about luxury midrises or highrises already built in Nashville with recorded closings. Are there many that have $400 per foot prices or are the only examples of this just reservations and contracts ? Someone I was having a beer with the other day told me that there have only been a few 1 million dollar condo closings in all of downtown. If true, this would suprise me given the market Signature and West End Summit see to be after.

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Anyone hearing anything about the project running into "challenges"? Advance sales just being too slow?

Overheard pieces of conversations at a recent gathering of Nashville "in the know" folks and they did not sound very optimistic about Signature.

I know, nothing but rumors, but so much of the real estate market is just that!

Curious...

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Anyone hearing anything about the project running into "challenges"? Advance sales just being too slow?

Overheard pieces of conversations at a recent gathering of Nashville "in the know" folks and they did not sound very optimistic about Signature.

I know, nothing but rumors, but so much of the real estate market is just that!

Curious...

Basically, without having to thumb through the thread, Tony G doesn't have enough units sold to start construction.

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i just though i would post this for anyone interested.

This is the Predators intro video which includes the Siggy in a major way...

From Predators TV

That's a cool video clip but I'm not sure if it is wise to get Signature Tower so placed in everyone's mind that they almost believe it is already a part of the skyline (or maybe that is exactly what TG hopes for?).

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That's a cool video clip but I'm not sure if it is wise to get Signature Tower so placed in everyone's mind that they almost believe it is already a part of the skyline (or maybe that is exactly what TG hopes for?).

Agreed. This is a great marketing tool, but it may lead to folks assuming this is a done deal and to their disappointment if it is long delayed or if the final project does not materialize in that form. I'm not sure how many folks really would associate with the Sig's use in the clip, but its definitely an association that could be made by lots of people are who are passively interested in downtown's development and keep track on what's going on.

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^ It says right there on the link you provided.

Structural Engineering

Parking Consulting

Yes but I didn't know how long they had been involved (if they are a new addition or not). With Turner construction out of the picture I didn't know if this group were paired up with a new construction company or not.

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