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Park 30

barakat

By barakat
in Nashville

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MidTenn1 Town

MidTenn1

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Has anyone registered and gotten any info?

There's an ad on the front page of the City Paper with a picture. It appears to be a series of eight single family, wood frame homes, but with zero lot lines. The text says it is located 1/2 mile from historic Germantown and one block from the Farmer's Market.

They start at $215k.

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Onyte9 Whistle-Stop

Onyte9

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I'm not sure but this may be the new condos being built in Hope Gardens right beside Hope Gardens Park. The construction started a few weeks ago and it seems to be a quality development. The immediate area around the park has really taken off in the last year. There are 4 new high quality houses surrounding the park. Not to mention the countless number of houses that are in the neighborhood. I just think its great that developers that are targeting the neighborhood are building nice two story homes. I know we have problems in a lot of other areas with someone coming in and slapping together a house that dont really fit the neighborhood just to make a few bucks.

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Duke32 Whistle-Stop

Duke32

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It looks strange that there is no address associated with a $400k/unit development. I'm guessing it's going to be around 30th ave. & West End near Centennial Park, hence the name Park 30.

Just found out that we had the plans in our office. The official address is 208 30th ave. north.

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Duke32 Whistle-Stop

Duke32

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Very possibly the 10 story that may be going in at 30th and Poston. If this is the case, it has been in the works for a while. I think the developer is John Hayes as there are 2 of the same name. Then again it may be something brand new.

That should be right location.

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Jeeper12 Hamlet

Jeeper12

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Very possibly the 10 story that may be going in at 30th and Poston. If this is the case, it has been in the works for a while. I think the developer is John Hayes as there are 2 of the same name. Then again it may be something brand new.

John Coleman Hayes is developing The West End, which has been under construction behind Walgreens for about a year. This new project appears to be located on the block behind (toward Parthenon) the Row at 31st condos.

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william Whistle-Stop

william

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Friends,

Yes, Park 30 will be on 30th Avenue North, very near West End Lofts I and II. John Hays (not to be confused with John Coleman Hayes, who is developing The West End next to the Wall Greens at West End and 31st) is the developer. John Hays developed the 2222 Building in 12South (which Christine Kreyling hammered in a Nashville Scene article, if you'll recall). My understanding is that the building will be seven or eight floors. Work could start by the end of the calendar year.

WW

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Hankster Town

Hankster

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Friends,

Yes, Park 30 will be on 30th Avenue North, very near West End Lofts I and II. John Hays (not to be confused with John Coleman Hayes, who is developing The West End next to the Wall Greens at West End and 31st) is the developer. John Hays developed the 2222 Building in 12South (which Christine Kreyling hammered in a Nashville Scene article, if you'll recall). My understanding is that the building will be seven or eight floors. Work could start by the end of the calendar year.

WW

Thanks for the update, William. That area is absolutely hot right now!

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Jeeper12 Hamlet

Jeeper12

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Thanks for the update, William. That area is absolutely hot right now!

There may be a lot dust flying in this area but the projects have had mixed results. CODA seems to have been the only developer to do well, although I think they still have over a dozen units to sell (out of 44) as they finish Midtown Lofts. The West End has yet to sell any of its 75 high end units and sales were so underwhelming for the Meridian (Long Ave) they pulled it off the market so the developer could make the units smaller (cheaper). And the Row @ 31st developer went into personal bankruptcy; I'm told his units were too big and too high end for that market. This new project seems to be gunning for the high end buyers too. Given the recent struggles with high end there they'll certainly have to do something one hell of a lot more impressive than their 12th Ave deal to be successful.

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ATLBrain Burg

ATLBrain

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A problem I've seen with several of these buildings is that they look cheap (with aluminum siding and a mix of exterior materials), but the developers are asking a premium for the units. Another problem that I'd guess is related is that too many of these developers are "part-time" developers meaning they aren't "in the business". Instead, they're in the game just to turn a quick buck and charging premiums for location only. With the abundance of Vandy students in the area too, I'd guess that the developers have priced the units beyond their interest as an investment. There are too many options for students in the area.

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smeagolsfree Gigalopolis

smeagolsfree

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There may be a lot dust flying in this area but the projects have had mixed results. CODA seems to have been the only developer to do well, although I think they still have over a dozen units to sell (out of 44) as they finish Midtown Lofts. The West End has yet to sell any of its 75 high end units and sales were so underwhelming for the Meridian (Long Ave) they pulled it off the market so the developer could make the units smaller (cheaper). And the Row @ 31st developer went into personal bankruptcy; I'm told his units were too big and too high end for that market. This new project seems to be gunning for the high end buyers too. Given the recent struggles with high end there they'll certainly have to do something one hell of a lot more impressive than their 12th Ave deal to be successful.

That was my fear about a number of these developments. They were just too expensive. The developers need to concentrate more on affordable or near affordable. Four hundred thousand is too much for many of these units. After looking at some of them, I wouldn't even give 150 for them. Too many steps, units spread over 3 or more levels, soundproofing from traffic noise, and cheap construction.

The market may be cooling a bit. I look for more apartments to be built with the interest rates rising and the lack of units as many apartments have converted to condos.

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Guest

Guest

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The market is still hot in Nashville but your are correct that the quality must meet the price per/sq ft test to sell. The sweet-spot on West End/d'town is the 225K - 500K range but for that people are going to have to give up sq footage.

I just took a look at th einterest rates and they are not as bad as I have been hearing I saw a conforming 30-year at 5.95% on friday.

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Hankster Town

Hankster

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The West End has yet to sell any of its 75 high end units and sales were so underwhelming for the Meridian (Long Ave) they pulled it off the market so the developer could make the units smaller (cheaper). And the Row @ 31st developer went into personal bankruptcy; I'm told his units were too big and too high end for that market. This new project seems to be gunning for the high end buyers too. Given the recent struggles with high end there they'll certainly have to do something one hell of a lot more impressive than their 12th Ave deal to be successful.

What you describe is so negative it's really difficult to believe. If it's true that the West End has sold zero units, we have a disaster in the making. What are your sources of information?

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Jeeper12 Hamlet

Jeeper12

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What you describe is so negative it's really difficult to believe. If it's true that the West End has sold zero units, we have a disaster in the making. What are your sources of information?

At one point last year their website listed 7 units as sold but has since cleared all the sold signs from its pages. The selling broker told me a month or so ago that they had 12 units "reserved" but as I discussed things with him in more detail it seemed obvious I could still purchase any unit I wanted. Also, the original appraiser for the project told me their bank didn't require any presales. Very scary indeed considering how high end they are trying to be.

www.thewestend.us

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