it's just dave

PSC Metals scrap yard

32 posts in this topic

Seems there's some long awaited news on at least part of the PSC Metals site. The way California's Mark's family is buying land in Nashville's core, we're sure, before long, to see some pretty dramatic use plans for those sites.

With PSC, this might the first step in realizing a dream all Nashvillians have had for way too long now. First steps are good.

http://tennessean.com/apps/pbcs.dll/articl...NESS02/70425017

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They have really dropped a lot of money into DT... plus, I see that they have a super-exclusive equestrian/housing development in Pulaski.

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You know what they say dave. One foot in front of the other! Well, unless you're gardening or something.

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Dave,

All this cannot be happening! Pretty soon downtown will be nothing but a playground for the rich. How dare Nashville grow to untold heights......

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So true, producer, I hope to get a season pass even if I can't afford to live there right away. Maybe I can at least flume zoom down the Ghost Ballet much to the chagrin of the New Metallians living on the east bank in New MetalsTowne. But, as we all know, with season passes (discounted for UP registrants, unless banned) all things are possible, even for us "regular folk." Gee, if only they'd let me in the big new skycraper on that little bitty plot of land downtown so I wouldn't feel so excluded from the whole of Nashville's public realm.

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This along with the new riverfront could be huge for downtown. I long for the day when downtown officially crosses the river and we see a steady stream of foot traffic back and forth across the bridges. I t has the potential to be as large a focal point for downtown as Broadway and 2nd Avenue, if done right.

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This option on the property was done weeks ago. It's just now trickling out. The option is akin to paying to have a conversation. Many have kicked the tires, but this is the farthest anyone as gotten. So Tower actually gets to sit in the car. If anything happens, it will be far down the road. Moving that scrap yard is expensive. And every land owner along the river knows that there's really only one place to go and that is along the river. Guess how expensive that property is going to get? This is something that almost certainly will require some form of a public-private partnership. I doubt the groundwork will be laid under the current administration. I could be wrong but we are four months away from the election. I suspect that they wait until a new mayor and council are in place.

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As is often the case, I hate to be the only skeptic in the room. But anything materializing on the PSC site seems AT LEAST ten years down the road to me. And, frankly, a groundbreaking over there in 10 years would seem like a remarkable achievement to me for at least two reasons. First, PSC has no interest in going anywhere and they control that land for many many years. Second, our city already has its hands full just trying to keep Sobro from falling apart (relative to expectations that is).

I think anyone who attended the big NBJ Sobro panel breakfast last week (see discussion on Nashville Charrette) came away feeling like significant uncertainty remains as to what will happen next in Sobro and when. It's obviously always exciting to draw up fresh new plans for the east bank, redirect the river, etc. etc. But it seems to me the next administration had better get much more focused on Sobro that the current one has been or we could all find ourselves very dissapointed with how things turn out south of Broad.

And, oh yeah, let's try and make sure the Preds don't vacate the arena as they now have the right to do if ticket sales for next year aren't higher than they were this year. I think the military would call this protecting your flank.

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As is often the case, I hate to be the only skeptic in the room. But anything materializing on the PSC site seems AT LEAST ten years down the road to me. And, frankly, a groundbreaking over there in 10 years would seem like a remarkable achievement to me for at least two reasons. First, PSC has no interest in going anywhere and they control that land for many many years. Second, our city already has its hands full just trying to keep Sobro from falling apart (relative to expectations that is).

I think anyone who attended the big NBJ Sobro panel breakfast last week (see discussion on Nashville Charrette) came away feeling like significant uncertainty remains as to what will happen next in Sobro and when. It's obviously always exciting to draw up fresh new plans for the east bank, redirect the river, etc. etc. But it seems to me the next administration had better get much more focused on Sobro that the current one has been or we could all find ourselves very dissapointed with how things turn out south of Broad.

And, oh yeah, let's try and make sure the Preds don't vacate the arena as they now have the right to do if ticket sales for next year aren't higher than they were this year. I think the military would call this protecting your flank.

You're not the only skeptic. I agree with you on all accounts. I'd bet nothing happens on that site even 10 years down the road. The only caveat is if the city steps up and helps in a big way, which I don't see happening right away, even with a new administration. People didn't like the theme park there, turning there nose up at it and suggesting there were better uses. The city didn't want to back bonds for the project claiming it was a failure risk because of what happened in other cities, never mind the context of why those parks had failed in other cities. I don't think the theme park would have failed but even if it would have, someone else would have come in. Oh well. That was a lost opportunity to folks who think that area should be a "neighborhood."

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I wouldn't expect Tower to take any lead on developing this property. Don't overlook the fact that the Marks family would buy riverfront property which will surely appreciate handsomely over that 10-year period while they have the steady income from the long term lease from PSC. They wouldn't even have to plow much back into the property. So after ten years (or how long it is), they resign the lease for more income or do something else with it. It is, after all, an industrial site with (G0d knows what) in the ground that would require considerable expense to cleanup. So perpetuating the lease with PSC indefinitely is probably the best decision for this investment.

Now, in the event that the new mayor decides to move forward with the riverfront, then they may have other reasons to develop that property. However, I'm not optimistic that that side of the river will ever be developed in our lives.

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I wouldn't expect Tower to take any lead on developing this property. Don't overlook the fact that the Marks family would buy riverfront property which will surely appreciate handsomely over that 10-year period while they have the steady income from the long term lease from PSC.

Maybe so but Adam Liff is a shrewd guy and I'm sure he's not going to sell it at a price that's going to give them a pleasant cash flow return. It will probably be a fraction of what they would otherwise earn in treasuries. So, in order for it to make sense there MUST be bigtime appreciation over the long haul. Trouble is, there are many who think it will cost more to clean that site than it will to buy it. I'm still scratching my head over this one but I'd be really puzzled if they were announcing a purchase rather than an option agreement.

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Maybe so but Adam Liff is a shrewd guy and I'm sure he's not going to sell it at a price that's going to give them a pleasant cash flow return. It will probably be a fraction of what they would otherwise earn in treasuries. So, in order for it to make sense there MUST be bigtime appreciation over the long haul. Trouble is, there are many who think it will cost more to clean that site than it will to buy it. I'm still scratching my head over this one but I'd be really puzzled if they were announcing a purchase rather than an option agreement.

It's just an option agreement at this point. Much cheaper than buying the land.

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This is a new development most of us have all ready heard about, that's finally getting the go a head. :thumbsup:

Link: Channel 4 Luxury Riverfront Development

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I think it has had the go ahead for a while but I susspect the cash had not been there until recently. This was supposed to have broken ground 18 months ago.

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You're not the only skeptic. I agree with you on all accounts. I'd bet nothing happens on that site even 10 years down the road. The only caveat is if the city steps up and helps in a big way, which I don't see happening right away, even with a new administration. People didn't like the theme park there, turning there nose up at it and suggesting there were better uses. The city didn't want to back bonds for the project claiming it was a failure risk because of what happened in other cities, never mind the context of why those parks had failed in other cities. I don't think the theme park would have failed but even if it would have, someone else would have come in. Oh well. That was a lost opportunity to folks who think that area should be a "neighborhood."

The City Paper reported today (good for them) that PSC recently renegotiated their lease giving them another 50 years to be at that location. Wouldn't that itty bitty fact have been slightly relevant to all the newspaper articles and press conferences organized that week. Just in case there was ever any doubt about PSC's intentions they were quoted as saying they planned to be doing business at that location 100 years from now.

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The City Paper reported today (good for them) that PSC recently renegotiated their lease giving them another 50 years to be at that location. Wouldn't that itty bitty fact have been slightly relevant to all the newspaper articles and press conferences organized that week. Just in case there was ever any doubt about PSC's intentions they were quoted as saying they planned to be doing business at that location 100 years from now.

I called that one. :tough:

I missed it my first pass through, but I see in the article that the (wannabe) little dictator, David Briley, says "we have to redevelop" that site. I suppose he's going to propose more restrictive (and ridiculous) legislation to trample the owners' rights in an attempt to force them out. Who's he calling "we"? What a politician!

Edited by ATLBrain

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Well, i thought i would raise an old thread from the dead, since no one seems to be around anyways.

City Paper Link

It appears the state is making a not-so-ambiguous attempt to provide funding for PSC metals to move.

interesting.

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Well, i thought i would raise an old thread from the dead, since no one seems to be around anyways.

City Paper Link

It appears the state is making a not-so-ambiguous attempt to provide funding for PSC metals to move.

interesting.

Just as soon as they find another location that has rail access close the interstate and on the river.................

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Wasn't Atlantic Station in Atlanta built on the some type of site? I would love to see something like Atlantic Station built there. The way it was built makes sense considering the PSC site is in a flood zone. The parking garage is underneath the shopping and condos, etc.

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Very interesting.. I can't wait to see the Riverfront plan take shape..

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How can the city and state start restricting developer's ability to build in the flood way (post-catastrophic flood), then turn around and plan a massive Atlantic Yards-type development right in the flood way?

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PCS Metals has a 98 year lease on the property. I don't think they are going anywhere for awhile.

SEC

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PCS Metals has a 98 year lease on the property. I don't think they are going anywhere for awhile.

SEC

Tell the owner of the Musicians Hall of Fame that, the owner of the lot where Row 8.9 sits, or how about all of the people who owned property were LP Field sits. Your naive if you think the government can't or won't take this property. Big Brother doesn't care about your lease. Its another one of those issues where I want to stand from property rights, but at the same time really wish the eyesore would go peacefully.

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Tell the owner of the Musicians Hall of Fame that, the owner of the lot where Row 8.9 sits, or how about all of the people who owned property were LP Field sits. Your naive if you think the government can't or won't take this property. Big Brother doesn't care about your lease. Its another one of those issues where I want to stand from property rights, but at the same time really wish the eyesore would go peacefully.

Put a roof over the scrap heap. Keep industrial uses in the city, on the river. (Properly regulated of course)

Edited by Nashvillain

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In actuality the lease may not be an issue as many rural areas like Maury and Hickman counties need the jobs desperately and they would kindly take the PCS metals plant.

SEC

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