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New-look Terrazzo

downtown cliff

By downtown cliff
in Nashville

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Hankster Town

Hankster

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Terrazzo to break ground this month.

http://www.tennessean.com/apps/pbcs.dll/ar...3/1197/COUNTY01

I am glad to see this and the Icon going up. By the way the 16 story at the site of the Madam X did get a skyplane variance. I do not expect that to break ground till the end of the year.

By early 2007 there will be at least three cranes (the ICON could require more than 1) at one intersection! :yahoo:

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Hankster Town

Hankster

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Official groundbreaking for Terrazzo was today. Before this would be big news but it seems as if it is just another building going up now.

Great news! I'm getting to the point of expecting a new ground breaking every month. Crazy, isn't it!!! :yahoo:

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ATLBrain Burg

ATLBrain

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Great news! I'm getting to the point of expecting a new ground breaking every month. Crazy, isn't it!!! :yahoo:

We'll soon see if Mr. Palmer can meet his expected groundbreaking for WES next month. So when will the Encore break ground? Sounds? Rolling Mill Hill? Did I miss those already?

5th and Main has broken already, right?

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Hankster Town

Hankster

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We'll soon see if Mr. Palmer can meet his expected groundbreaking for WES next month. So when will the Encore break ground? Sounds? Rolling Mill Hill? Did I miss those already?

5th and Main has broken already, right?

All I know for sure is that Encore officially breaks ground on July 12th. Therefore we are assured at least one groundbreaking next month. Maybe WES will break ground in August, keeping the string of at least one high rise ground breaking every month alive. Sounds and Rolling Mill Hill haven't broken ground yet, but they will relatively soon (late 2006, maybe?). Also, I think the Sliver could break ground later this year as well. Does anyone have a projected date for Rhythm condos?

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smeagolsfree Gigalopolis

smeagolsfree

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All I know for sure is that Encore officially breaks ground on July 12th. Therefore we are assured at least one groundbreaking next month. Maybe WES will break ground in August, keeping the string of at least one high rise ground breaking every month alive. Sounds and Rolling Mill Hill haven't broken ground yet, but they will relatively soon (late 2006, maybe?). Also, I think the Sliver could break ground later this year as well. Does anyone have a projected date for Rhythm condos?

The Sliver will probably break ground late this year or early next year. From a source we all know.

You might as well say the Encore is already broken ground because there is a lot of work going on over there now.

5th and Main was suppose to have already started but looking over there yesterday thee was no action.

Rolling Mill and the Sounds project I believe in December and January. I look for multiple cranes at those sites because of the number of buildings going up. I would bet there will be a minimum of 8 cranes total at those projects.

Rhythm Condos are looking to break ground in fall and be completed next year.

I really dont look for WES to break ground before fall. I hope I am wrong but it does seem that Alex Palmer has a very complicated project on his hands.

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Hankster Town

Hankster

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The Sliver will probably break ground late this year or early next year. From a source we all know.

You might as well say the Encore is already broken ground because there is a lot of work going on over there now.

5th and Main was suppose to have already started but looking over there yesterday thee was no action.

Rolling Mill and the Sounds project I believe in December and January. I look for multiple cranes at those sites because of the number of buildings going up. I would bet there will be a minimum of 8 cranes total at those projects.

Rhythm Condos are looking to break ground in fall and be completed next year.

I really dont look for WES to break ground before fall. I hope I am wrong but it does seem that Alex Palmer has a very complicated project on his hands.

All of that sounds good to me. I can't wait to see all those cranes along the riverfront. It's going to be an amazing site seeing all that work going on at the same time, along with the Sun Trust, the Encore, the Hampton Inn, and (fingers crossed) the Signature, Tower, all the Gulch projects (at least three cranes, probably more), the Rhythm and WES (multiple cranes here too). You would be able to see them all from many vantage points. It will look like the whole city is under construction!!!

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Guest

Guest

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FWIW I am hearing that the sales for the Terrazzo units are not going as well as some other developments. They did not say it would not move forward only that they are 'sluggish'. I will try to sind out the premium they are charging (say compared to the Icon) for the LEEDS certification. Green buildings are great but they haveto work economically. If the spread in price is too large then the money will walk down the road.

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Lexy Town

Lexy

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I think the prices for units is a bit out of range. I may be thinkning of another building, but I think Terrazzo is a bit higher than the rest. Obviously it has to be a bit "high" for the LEEDS certification and stuff.

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Jeeper12 Hamlet

Jeeper12

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FWIW I am hearing that the sales for the Terrazzo units are not going as well as some other developments. They did not say it would not move forward only that they are 'sluggish'. I will try to sind out the premium they are charging (say compared to the Icon) for the LEEDS certification. Green buildings are great but they haveto work economically. If the spread in price is too large then the money will walk down the road.

I've heard that too. A few people have told me that they have been reducing their prices (a no no some say) and offering to "negotiate" on the 10% deposit. I think they are charging about $400 a foot, or almost $100 a foot more than Icon. The units are also much larger, which makes them price out more than twice as expensive as Icon.

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Guest

Guest

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I've heard that too. A few people have told me that they have been reducing their prices (a no no some say) and offering to "negotiate" on the 10% deposit. I think they are charging about $400 a foot, or almost $100 a foot more than Icon. The units are also much larger, which makes them price out more than twice as expensive as Icon.

WOW!!

I had no idea the premium for the Terrazzo units were so high! To me that will be a hard sell. Looks like they misread the market if they are already granting incentives/discounts for contracts. This will push ALL investors away as they paper they are holding will be devalued before they close.

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barakat Burg

barakat

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WOW!!

I had no idea the premium for the Terrazzo units were so high! To me that will be a hard sell. Looks like they misread the market if they are already granting incentives/discounts for contracts. This will push ALL investors away as they paper they are holding will be devalued before they close.

Feasability of the entire project aside, might marketing/sales problems lead to a major re-working of the building itself, or at least the finishes/condo sizes? ICON sold out quickly because of many marketing advantages not offered by Terrazzo, like lower price/high finish, similar amenities, downtown views, etc. Is Terrazzo competing with Adelicia and Signature for buyers? If I had to choose between the three, I would definately go with Adelicia or Signature over Terrazzo. It will be interesting to see how Velocity and the 'Madam X' building will affect the mix. I imagine Velocity might be somewhat similar to ICON, perhaps with a more edgy design. I look forward to seeing some drawings.

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