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Westin on Lower Broad

QuietMike

By QuietMike
in Nashville

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  • 4 weeks later...
smeagolsfree Gigalopolis

smeagolsfree

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The developers of this project have a couple of hoops to jump through. I think the financing is going to be the key to many projects happening. The market has tightened not just for homes but for condo buildings, office buildings and the entire gambit. Its a lot harder to get the money to get this stuff going.

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smeagolsfree Gigalopolis

smeagolsfree

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Yes, I understand that, but note the article also talks about new partners for the project. I think the Westin is viable given the current market of hotels in Nashville at this time. The condo portion is not even and issue now even though they needed it for quick cash under the old plan to make the entire project feasible. What will probably happen is the market will get overbuilt and it will take time to catch up once that happens. That is even with the new CC. I would like to see something happen with this project.

Let

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Midtown Unincorporated Area

Midtown

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Posted
Yes, I understand that, but note the article also talks about new partners for the project. I think the Westin is viable given the current market of hotels in Nashville at this time. The condo portion is not even and issue now even though they needed it for quick cash under the old plan to make the entire project feasible. What will probably happen is the market will get overbuilt and it will take time to catch up once that happens. That is even with the new CC. I would like to see something happen with this project.

Let's look at the math and see what is on the drawing board.

The Westin 450 rooms [proposed]

The new CC hotel, aprox. 1000 rooms [proposed]

A new Hotel Indigo not sure of the room count but my guess is around 150 rooms [under construction]

Hotel Palomar if built 250 rooms (I think) [proposed]

The new Homewood suites DT around 150 (I think) [under construction]

Plus whatever happens at the Thermal plant site.

That's 2000 rooms in addition to what ever happens on West End and the Round about.

Hotel developers and the banks that finance them look at what is on the drawing board as well as what is being built. Hotels are no different than any other construction project. The money is borrowed from a bank and guaranteed through private investors and companies. I have seen a lot of hotels go into receivership. I use to work for a management company that was owned by an insurance company. They got into hotel management because they ended up owning hotels by default. If the new CC is built, that will help tremendously. The DT area may be able to absorb that many room nights but I doubt it.

Sorry to go into the long explanation but, that was what was behind my original reply.

^_^

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Hankster Town

Hankster

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The hotel occupancy rate right now is the 5th highest of the nations 25 largest markets. Room rates are rising and a new convention center is very likely. All that adds up to this project going forward as a 450 room hotel. If they were able to get it approved at 19 floors, there's little doubt it will get approved at only 16. Hopefully the approval process this time won't take too long. This project will happen.

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nashvylle City

nashvylle

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If they have already approved the Westin at 19 floors, and they go ahead and take another long time approving it at 16... then I'm going to be very disappointed in the MDHA. We should be proud and flattered by all developments in the downtown area because they help Nashville grow. If our process to get these buildings built is so long that people actually stop building then that's going to be very bad. Let's get this building built. A Nashville Westin hotel sounds very nice.

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Nashville_maestro Whistle-Stop

Nashville_maestro

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I dont think that it will take very long to get approved this time around. The whole reason it took so long to get approved initially was because of its height taking away from the low rises on lower broadway. Now it will be 3 stories closer to the honky tonks. I want to see a design! Have they released one yet? This is going to be one of the smaller westin hotels (or maybe I just got used to Westin Peachtree Plaza in Atlanta) but this is still very appatizing for Nashville. Now bring on a new convention centre and we'll be cooking with fire!

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ATLBrain Burg

ATLBrain

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Here is a Wyndham where I stay when I'm in Cleveland. It's in a revitalized area on the edge of downtown and fits in well with the older architecture around it. Designed by RTKL Associates, it's about half the size as the Westin proposed for Nashville. Unfortunately, Barber Group has not built anything nearly this attractive.

http://www.emporis.com/en/wm/bu/?id=wyndha...leveland-oh-usa

http://www.wyndham.com/hotels/CLEPS/main.wnt

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  • 1 month later...
smeagolsfree Gigalopolis

smeagolsfree

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I think Sage Hospitality has the means to make this happen without Barber. They are a pretty good size company with 49 hotel properties.

http://www.sagehospitality.com/index.html

Of coarse their web site also says Westin Nashville opening fall of 2008. They may just need a new development partner or go it alone.

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smeagolsfree Gigalopolis

smeagolsfree

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Looks as if this project is still moving forward. James Weaver, a spokesman for the project was just on Channel 5 in a short news story about the project. A new architect has been hired and the new design will have to be approved by MDHA. He was playing with a cardboard model and the building looked to be about 14 or 15 stories.

Guess we will have to wait and see.

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