W Hotel -- what's the story?

[sande07]

New to this forum and very curious about the empty plot of land off the Demonbreun rotary. Rumored to be developed into a W Hotel. Does anyone know the latest?

Thanks in advance.

[ATLBrain]

According to rumors on this board and elsewhere, an announcement was supposed to have been made in mid March. Needless to say, that hasn't happened. Contrary to a convention HQ hotel downtown, I don't think this project (if it ever happens) is hinging on the outcome of the CC decisions.

[elguapo731]

Here's the entire thread on this project started back in May 06

http://www.urbanplanet.org/forums/index.ph...otel+roundabout

[producer2]

I do not think a W would be a Convention Center headquarters. It is too pricey for the vast majority of people attending meetings. The HQ hotel will be something in the Marriott vain.....

[ATLBrain]

^^ Exactly why I don't believe this one is waiting for the CC decision. I still have not seen anything in the local Nashville media about this project. Maybe it's been on the TV news, as I couldn't have seen that. The company is called Lionsgate... or something, right?

[Richard Lawson]

^^ Exactly why I don't believe this one is waiting for the CC decision. I still have not seen anything in the local Nashville media about this project. Maybe it's been on the TV news, as I couldn't have seen that. The company is called Lionsgate... or something, right?

[Hankster]

Lionstone and as I understand it they aren't going to announce until they are dead set sure they are going to build. There's a potential anchor for the office building, which may help make the project a go.

[Lexy]

Lionstone and as I understand it they aren't going to announce until they are dead set sure they are going to build. There's a potential anchor for the office building, which may help make the project a go.

[Richard Lawson]

Richard, do you know a time frame for this? I know that some people kind of try to have things done by a certain time and all and just wondering if that's the case here. I apologize if this has already been asked.

[Jeeper12]

There was supposed to have been something back in December. I think the hotel deal with a developer is done. Now it may be the office anchor they are working on. As these things go, timetables always get pushed.

[Hankster]

And if the hotel component is dependant on pre-selling 40 or 50 condos (as most are) that will also take lots of time. We all now know how long it takes to identify, organize and build out sales centers. And then there's the time necessary to actually sell the units.

[Jeeper12]

Do you think if an office anchor and hotel by themselves would be enough to get financing?

[Richard Lawson]

If this group has enough capital and loan guaranty strength (and they may) it's conceivable they could skip the presales and move ahead with only an anchor tenant for the office. However, given the relatively unproven market (Nashville) for what they'd be selling (I agree with you it will need to be $500-700/sf to make sense) as well as an untested residential submarket in Nashville (Roundabout) my money has them not putting a shovel in the ground until they have firm contracts on the condos.

[Jeeper12]

^ I thought you were going to say that maybe they'd take over the Rythm space if that project folded. The scuttlebutt I've been hearing about Rythm from folks at Village hasn't been too positive. Even if they find a way to move forward I wouldn't count on them giving up their sales center with so many units remaining to be sold.

[Richard Lawson]

^ I thought you were going to say that maybe they'd take over the Rythm space if that project folded. The scuttlebutt I've been hearing about Rythm from folks at Village hasn't been too positive. Even if they find a way to move forward I wouldn't count on them giving up their sales center with so many units remaining to be sold.

[CandyAisles]

I find it hard to believe that a project of this size is contingent on condo sales. The Hotel (being a 'W') with office and retail should make it valid enough. Is there an anchor tenant for sure?

[Richard Lawson]

I find it hard to believe that a project of this size is contingent on condo sales. The Hotel (being a 'W') with office and retail should make it valid enough. Is there an anchor tenant for sure?

[barakat]

It isn't for sure but they are talking to one.

[Richard Lawson]

Is it music related?

[Jeeper12]

Is it music related?

[MTSUBlueraider86]

Swenson is the lead architect and "W" is very interested in coming here. According to several financial publications, "W" is quickly expanding into new areas.

[Jeeper12]

Swenson is the lead architect and "W" is very interested in coming here. According to several financial publications, "W" is quickly expanding into new areas.

[MTSUBlueraider86]

There were people conducting surveying there yesterday. Ritz Carlton (owned by Marriott) had looked at that location years ago. I think Richard Lawson or someone from the Tennessean at the time wrote about it.

[elguapo731]

They were back out on site this morning and I got a pic of one of them marking to guy holding a rod in the center of the property.... The photo aint too exciting....

Photo is also a little blurry due to driving and photographing - not recommended

http://www.nashvillegrowth.com/WES/whotel.jpg

[MTSUBlueraider86]

Again, this project is a go. I know someone who works with the Lionstone group,(as a contractor for management services) and he said he is already talking with them to sign on with the services with his company for this project too.