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smeagolsfree

Crosland looking to invest heavily in midstate land

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I heard this mentioned on WTN this morning as well. There is a 1.5 billion dollar investment fund growing to buy land and develop areas in Middle TN. This can only mean good news for the outlook of the Nashville economy over the long haul.

http://nashville.bizjournals.com/nashville.../10/story1.html

I have not been able to look at the entire article but you see the highlights of it.

This is a key quote that has me excited.

"We can plan things and have a little more time to react ... Nashville is on the radar screen for a lot of corporate relocations."

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Hopefully when they say Nashivlle is on the radar screen for a lot of corporate locations, they mean Nashville and not Coolsprings.

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Hopefully when they say Nashivlle is on the radar screen for a lot of corporate locations, they mean Nashville and not Coolsprings.

I'm pretty sure they mean Nashville AND Cool Springs. They stated the investment would be in the Middle Tennessee area. To me, that means the investment will include areas outside Nashville. Hopefully, Nashville will get the the Lion's share.

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I'm pretty sure they mean Nashville AND Cool Springs. They stated the investment would be in the Middle Tennessee area. To me, that means the investment will include areas outside Nashville. Hopefully, Nashville will get the the Lion's share.

I read the today in Business TN in a interview they did with Mayor Dean that 45% jobs created in the metro are within Nashville/Davidson County, with the other 55% being spread out among the other 11 metro counties.

That seems like a pretty solid figure considering how hard and fast Cool Springs, Franklin, Murfreesboro, and Lebanon work at competing within the metro with Nashville in terms of economic development and business/industrial recruitment. Not to mention what the other smaller cities and counties collectively garner.

This potential large investment by Crosland could be a very interesting development to watch in Middle Tennessee. I wonder what it could involve?

I look forward to finding out more about this investment and what it develops into.

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A little bird told me this could be the site of a possible urban Target and theater complex. Cannot reveal source but has been pretty accurate in the past. Could be some other retail involved in this as well.

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Living a few blocks from this area, I'm excited to see what happens with all the land Crosland is acquiring along Jo Johnston. Perhaps a new masterplan will come about within the next few years similar to what's going on in the south Gluch.

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It will be very interesting to see how it develops between the S. Gulch and this area with the Polar storage property right in the middle as well. I know Crosland had their eyes on that property as well as Opus. I have not heard if that sale has gone through yet.

It would be nice to have a massive grouping of developments stretching a mile and half along the Gulch into Hope Gardens and the Capitol District.

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It would be nice to have a massive grouping of developments stretching a mile and half along the Gulch into Hope Gardens and the Capitol District.

Amen to that. This area in it's current state can at best be described as neglected and barren, but given the location huge potential exists. I hope no more of the Bruton Snuff/US Tobacco warehouses are demolished. They tore down several old, reusable warehouse buildings last year and now that spot sits empty with a chainlink fence around it. Several years before that, the old Castner Knott warehouse at 10th and Harrison was demolished; I have some very vague but pleasant memories of clandestine parties in that building. :rolleyes:

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A little bird told me this could be the site of a possible urban Target and theater complex. Cannot reveal source but has been pretty accurate in the past. Could be some other retail involved in this as well.

That would be a great development. A development like that could spur on a lot of other developments down the line that could really enhance the overall urban landscape and local amenities.

Please keep us posted!

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Hmmm, barakat, clandestine parties. Nice to hear I wasn't the only one. I was beginning to feel like such the tramp.

I think all this under the radar activity will be those things we'll be watching in the next couple of years or so. By then, so many of the things in the works will be done and the future developments will give us that needed connectivity. We're in for some interesting times ahead even if there are a couple of question marks around us. There's plenty to keep us busy watching the town grow. This is great news. All this land has been such a no man's land (except barakat) for so long; it's exciting to see it indeed has a future.

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The above mentioned project that Crosland is planning may start as soon as this spring and would be in phases. From what I understand they have assembled around twenty acres in this area.

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The above mentioned project that Crosland is planning may start as soon as this spring and would be in phases. From what I understand they have assembled around twenty acres in this area.

That's good. Do you think any local papers will provide more details about it soon?

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I wouldn't count on it for a little bit. Of coarse these guys read our post and will contact Crosland adn twist their arm for info.

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The above mentioned project that Crosland is planning may start as soon as this spring and would be in phases. From what I understand they have assembled around twenty acres in this area.

Another example of how bad the market is for real estate. Developers just don't have a chance. :shades:

Seriously though, Crosland and many others here in Nashville have the confidence to start construction on large project despite all the doom and gloom that some people are saying. It's not that bad!

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Another example of how bad the market is for real estate. Developers just don't have a chance. :shades:

Seriously though, Crosland and many others here in Nashville have the confidence to start construction on large project despite all the doom and gloom that some people are saying. It's not that bad!

If you have the means, isn't it sometimes best to invest in projects like these when the market is down? Don't you usually end up getting better deals on land and construction costs because of supply and demand?

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If you have the means, isn't it sometimes best to invest in projects like these when the market is down? Don't you usually end up getting better deals on land and construction costs because of supply and demand?

Yes, you are completely correct.. Individuals -or entities- with substantial capital on hand for investment can in down market make much higher long-term returns on investment due to depressed pricing on properties, material, labor, etc. at the time of there investment in a down market. The problem is that many of the individuals and/or firms who are in development usually don't have the free capital on hand to completely finance projects without outside financing (ie banks and/or investors), and in down markets that outside financing is usually harder to come by.

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Wow! 45 pices of property in that area. They must have some big plans.

That would be perfect for some dense mid-rise residential that won't restrict views of the State Capitol. I know the plan of Nashville focused on that site line from the west and promoted zoning to keep the view unobstructed.

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Wow! 45 pices of property in that area. They must have some big plans.

That would be perfect for some dense mid-rise residential that won't restrict views of the State Capitol. I know the plan of Nashville focused on that site line from the west and promoted zoning to keep the view unobstructed.

I agree. I can visualize that type of development in that area. It looks like Crosland intends to be a big player and make a significant and positive impact in developing urban Nashville.

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With property values ion flux right now, I would expect developers to be snagging properties up everywhere. I know there are plans for this area, but specifics, I do not know other than what I have posted above, but it is a lot of land.

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We bought a car at Hansen Chrysler on Charlotte and when it came time to buy a new one, planned to go back.. turns out they've been bought by S.E. Chrysler Jeep on Nolensville Road. That explains the big sign that says their service department has moved there. Been trying to figure out why there were so few cars on the lot, since it appeared Hansen was still in business.

At any rate, we ended up at S.E. Chrysler to buy the new car, and it turns out they bought all of Hansen - inventory, service, property, the whole shebang..

They'd considered relocating to the downtown location then decided they were better off where they are, so the sold the Hansen property to -- wait for it -- Crosland.. I believe the guy at S.E. said Crosland now has just about everything around there except for the Korean Market property.

Anyway, he saw their master plan - which he called ambitious - and confirmed they plan on some residential, but more retail, to support the residential around there. He didn't recall the Urban Target (fingers still crossed), but did recall a movie theater of some sort, so there's one more bit of confirmation about the rumors..

Of course, we know there's the rezoning meeting coming up (or has it already passed?)... so hopefully things are really and truly moving along around there !

David

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Thanks for the info. I'd love to have a movie theatre downtown. Do you know exactly where the location is?

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Thanks for the info. I'd love to have a movie theatre downtown. Do you know exactly where the location is?

Well, they've bought the properties at 10th Ave North and Jo Johnston (all four corners I think - including Franklin Industries - somebody correct me if that's wrong), the Hansen Chrysler property on Charlotte and 11th Ave North, among others..

they guy at S.E. Chrysler said the Hansen property was the last parcel, besides where the Korean Market is, across 11th Ave from Hansen. Don't know if that's accurate or not, but he did say he saw the site plan, so maybe he knows. If that's true, then my guess is they've bought the property behind Hansen, where all the Downtown Nissan new cars are parked behind a fence (that's speculation).

Also, there's a parcel on Jo Johnston across from AT&T, right by the railroad bridge that used to have a falling down block building on it... and I just noticed it's been demolished.. so speculation suggests to me they bought that one too..

I just hope the movie theatre and the supposed Urban Target are around 10th and Jo Johnston - as opposed to 11th and Charlotte -- much easier walking distance for us :yahoo:

David

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Well, let's assume (for the sake of my question) that this is true, and Crosland plans a big development there. Does anyone have any great ideas on how to connect the North/South Gulch? It's not that far to walk, but NES has a pretty imposing parcel of land. How could we make a neighborhood out of it without disrupting NES? Or should we disrupt them? I haven't given it much thought.

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