Jump to content

Adelicia in the final stages


Midtown

Recommended Posts

52zw042.jpg

It wont be long before we see lights at night inside this tower!

Any word on the number of firm sales they have?

537ays5.jpg

It was such a beautiful day today I took a stroll all around the neighborhood, from the roundabout to the West End Summit site, to the Adelicia site too.

4zk7dkm.jpg

To me, this is the most impressive view of this building !

54d05k4.jpg

Here is the "low income" Tiff money side of the project, with access directly to the street.

The architecture of this building is going to be friendly to Nashville. I like it. It sits down onto the street rather harshly on one side, but overall I really like the tower.

Sorry for the poor photos, they were once again, taken with a camera phone! Midtown is on the move!

Midtown

Link to comment
Share on other sites


  • Replies 31
  • Created
  • Last Reply

Your pics are actually good considering they were taken with your phone... and thanks for posting. I can't get enough (there aren't enough) photos of all the new projects underway. If you hadn't shown the pics of WES, I would still have deep doubts. Yes, I have read the posts on the WES thread, so please let's not allow this one to devolve into a "will it/won't it" discussion.

Link to comment
Share on other sites

Your pics are actually good considering they were taken with your phone... and thanks for posting. I can't get enough (there aren't enough) photos of all the new projects underway. If you hadn't shown the pics of WES, I would still have deep doubts. Yes, I have read the posts on the WES thread, so please let's not allow this one to devolve into a "will it/won't it" discussion.
Link to comment
Share on other sites

  • 2 weeks later...
Those units are usually pegged at what would be affordable (30% of income) for people who make 60% or perhaps 80% of the average income in the area. So, that number is probably fixed and not reflective of a market value.

I am curious if they will have the restrictions that are sometime included - require perhaps a 5 year hold and limited sales price increases of 2% to 3% a year.

Some "affordable" units have been somewhat abused by the college student or early career buyers who buy the discounted unit then resell it at market a few years later at 30% or more profit.

Link to comment
Share on other sites

Yeah, it's below 80% of the median income. That is $34,500 in Nashville. There is a 5 year restriction on selling or renting unless to another low income person but no price increase limit.

A 700 sq. ft. condo for $165,000 is definitely not "affordable" for someone who makes below $34,500. I speak as someone who knows personally. I have no other debt and, with the $250/month association fees, it is definitely a stretch. I would not say that anyone has "somewhat abused" these programs. I would say that probably the only buyers are students or early career buyers. Who else wants to live in these tiny condos with steep association fees? I've made the argument before in this forum that the developers are getting the best deal by taking the tax incentive financing and then still selling these small units for $150k+.

Link to comment
Share on other sites

  • 7 months later...

Article in today's Tennessean about the Adelicia being one of the highest priced projects, but offering the best amenities. Also gives interesting numbers about sales in the building.

Adelicia developer raises stakes for condos

Be sure to check out the photo tour of the building too. Some very nice photos, especially the one from inside of the night view of downtown. You can see the cranes on the right in the Gulch.

Link to comment
Share on other sites

Very interesting article. I didn't realize the price disparity between this project and other high-rise condos in the area were so great.

I read the comment section and I am always amazed how some folks can always find criticism about stories that absolutely have no reason to involve them enough to warrant even the consideration of criticism. You'd think this project was denying one commentor his dream home because this was being built instead of the lower income housing by the developer.

Link to comment
Share on other sites

  • 3 weeks later...

According to the Nashville Scene's Bites Blog the folks that opened the Watermark restaurant in the Gulch will open a restaurant, "Miro District Food and Drink" at the base of the Adelicia by May of this year. The restaurant will be "Italian-inspired". Sounds like a good addition to the little cluster of restaurants in Midtown.

http://blogs.nashvillescene.com/bites/

Link to comment
Share on other sites

According to the Nashville Scene's Bites Blog the folks that opened the Watermark restaurant in the Gulch will open a restaurant, "Miro District Food and Drink" at the base of the Adelicia by May of this year. The restaurant will be "Italian-inspired". Sounds like a good addition to the little cluster of restaurants in Midtown.

http://blogs.nashvillescene.com/bites/

Link to comment
Share on other sites

  • 3 weeks later...

Several article about the Adelicia in the paper over the last couple of days.

Here is a slide show looking inside the Adelicia.

http://www.tennessean.com/apps/pbcs.dll/ga...mp;Profile=1556

A couple of more. One having to do with a new restaurant coming to the Adelicia.

http://www.tennessean.com/apps/pbcs.dll/ar.../802150334/1556

http://www.tennessean.com/apps/pbcs.dll/ar.../802150333/1556

This is a really nice project that has turned out better than many had even hoped for.

Link to comment
Share on other sites

Several article about the Adelicia in the paper over the last couple of days.

Here is a slide show looking inside the Adelicia.

http://www.tennessean.com/apps/pbcs.dll/ga...mp;Profile=1556

A couple of more. One having to do with a new restaurant coming to the Adelicia.

http://www.tennessean.com/apps/pbcs.dll/ar.../802150334/1556

http://www.tennessean.com/apps/pbcs.dll/ar.../802150333/1556

This is a really nice project that has turned out better than many had even hoped for.

Link to comment
Share on other sites

It is a very nice property. I think for the price point Encore is going to be just as nice. It seems to have a very similar layout for all of the amenities as well as some of the floor plans. Encore is a little more edgy with concrete ceilings and some exposed concrete columns in the units but overall it is far better than the finish on the Bristol properties IMO. I have only seen the lobby at Encore and the model at the sales office so pretty soon we should be able to compare.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.