Nashville Bits and Pieces

[franktown]

Re: BNA International Service for near international (Mexico, Caribbean, or Central America) we will likely get several nonstops on Southwest as they continue to right-size for former AirTran hub in ATL.  

 

MNAA's master plan involves relocating the international gates closer to terminal C and creating several "swing gates" that can serve as both domestic and international gates as need be.  That said, I don't know if the airport works on expanding the FIS station to process more passengers in hopes that WN adds flights, or if WN begins flights, FIS is slow, and then they fix the problem.  

[bwithers1]

ATTEMPTED THREAD HIJACKING:

 

Given the recent and impending developments along Franklin Pike (i.e. 8th Ave.), Charlotte Pike, and Gallatin Pike, I wonder if it would be in the best interest of the communities outside the city to focus on development along these existing routes, as tradition would hold. I mean, it's not the most attractive of daydreams, but...

 

Of course, I am referring to the online survey that Nashville Next published some months ago. For those of you who are unfamiliar, the survey presented three scenarios for mapping future growth, and asked participants to rank them:

 

1.) Business as Usual

2.) Centers with Adjacent Infill

3.) Downtown and Pikes

 

Yes, they pretty much telegraph Centers with Adjacent Infill being the most responsible and forward-looking option.

 

Still, what did/do you think would be the best or more likely scenario?

Downtown and Pikes all the way.  We know how centers with adjacent infill turned out:  look at Hickory Hollow Mall, Bellevue Mall, or even Rivergate Mall.  You have huge pockets of development that are spread out and you have nothing but traffic jams inbetween.  And what happens when those centers lose out to newer centers futher out?  You have dead malls.  Or in this case, you would have dead centers.

 

Whereas Nashville is already set on a pikes system.  Having development start downtown and thread throught the city along those pikes creates better opportunities for supporting transit lines.

[Neigeville2]

...  We know how centers with adjacent infill turned out:  look at Hickory Hollow Mall, Bellevue Mall, or even Rivergate Mall.  You have huge pockets of development that are spread out and you have nothing but traffic jams inbetween.  And what happens when those centers lose out to newer centers futher out?  You have dead malls.  Or in this case, you would have dead centers....

 

I too prefer the pikes model, but these malls are not examples of centers with adjacent infill, they are sprawling parking lots, with surrounding areas zoned for low-density commercial and beyond that, low-density housing on cul-de-sacs. They would go under the business as usual model, which turns us into Atlanta.  Picture HH Mall with a large housing component, walkable to the adjacent areas and linked by transit to DT and other centers.  It's not unworkable.

 

As to losing out to newer centers farther out, there's no reason development along the pikes would not be equally susceptible to this.  That was the pattern of development mid to late 20th century, but for well-managed cities, it's not the future.  

[titanhog]

Nashville economy just topped $100B!

 

http://www.tennessean.com/story/money/2014/09/16/nashville-economy-officially-top-b-mark/15725853/

[Jamie Hall]

It looks like TDOT or Metro is moving heavy construction equipment to start some sort of project near the Broadway and Church interchanges off I-40 / I-65 downtown. I can't find any mention of it on the Metro or TDOT websites. My wish is that it's a project to ease congestion at the Broadway exit, but a project of that scale surely would've gotten coverage by now.

 

Any clues?

[Vrtigo]

It looks like TDOT or Metro is moving heavy construction equipment to start some sort of project near the Broadway and Church interchanges off I-40 / I-65 downtown. I can't find any mention of it on the Metro or TDOT websites. My wish is that it's a project to ease congestion at the Broadway exit, but a project of that scale surely would've gotten coverage by now.

 

Any clues?

 

If you didn't say TDOT/Metro, I would think it was the old Performance Studios site being redeveloped... I can't imagine what else they can do to that area as far as roads are concerned except for a simple repaving project.

[Jamie Hall]

If you didn't say TDOT/Metro, I would think it was the old Performance Studios site being redeveloped... I can't imagine what else they can do to that area as far as roads are concerned except for a simple repaving project.

 

I considered that too, but they've also added road construction signs along the roads leading up to that area. So I'm stumped.

[vinemp]

I too prefer the pikes model, but these malls are not examples of centers with adjacent infill, they are sprawling parking lots, with surrounding areas zoned for low-density commercial and beyond that, low-density housing on cul-de-sacs. They would go under the business as usual model, which turns us into Atlanta.  Picture HH Mall with a large housing component, walkable to the adjacent areas and linked by transit to DT and other centers.  It's not unworkable.

 

As to losing out to newer centers farther out, there's no reason development along the pikes would not be equally susceptible to this.  That was the pattern of development mid to late 20th century, but for well-managed cities, it's not the future.  

Agreed.

 

I think that, if skeptics viewed the accompanying PDF, they'd reconsider support of the Downtown and the Pikes conclusion

 

Nashville Next It's near the bottom of the page near the three videos.

(

Now, when viewing, consider that a majority of our population--and the grand swath of our consistent population growth--lives in Southwest Davidson Co. 

 

In each scenario, you can clearly see the routes to the known nuclei along the Pikes, but what's important to note is the addition of various "east-west" connections, most recognizably along OHB, Harding Place, Thompson Lane in the Centers and Adjacent Infill model. THIS general east-west movement is what Nashville has never sufficiently provided its residents. (And the interstates should not be allowed to continue to stand in place of city street thoroughfares for residents!)

 

I don't mind iterating that connectivity is the real reason for the season. How quickly and efficiently Nashville's citizens will be able to move about the city is going to determine the nature of Nashville's growth and how that impending wealth is nurtured. And if access to that wealth (i.e. housing, jobs, transportation, amenities) is inadequate, developing future civic projects will become only more difficult to manage.

Edited September 17, 2014 by vinemp

[smeagolsfree]

There is a chance this could be utility work for pending development. I will check it out tomorrow when down there. If it is close to the performance studio building, I would bet that is what it is. The Transwestern/Caden project is going to be rather large, so there will have to be upgrades to sewer, water, electric, etc.

[dmillsphoto]

https://www.nashvillepost.com/news/2014/9/17/pwc_nashville_apartment_market_on_verge_of_contraction

 

PwC says the apartment boom is probably coming to an end soon and maybe contracting. I will be curious to see how it continues, because I could see SoBro going to condos.

[smeagolsfree]

A lot of new utility markings around the Transwestern/Tarver site. That may have been some of the work going on there. I didn't see anyone around there today.

[samsonh]

https://www.nashvillepost.com/news/2014/9/17/pwc_nashville_apartment_market_on_verge_of_contraction

 

PwC says the apartment boom is probably coming to an end soon and maybe contracting. I will be curious to see how it continues, because I could see SoBro going to condos.

 

I could see a lot of the currently under construction apartments going to condos sooner than later, at discounted prices and wiping out a lot of the equity of the developers and their partners. I really do not think we are too far from over saturation of new apartments.

[Nathan_in_DC]

I could see a lot of the currently under construction apartments going to condos sooner than later, at discounted prices and wiping out a lot of the equity of the developers and their partners. I really do not think we are too far from over saturation of new apartments.

 

I unfortunately have to agree. The MSA has had some crazy population growth in the last 10 years, but it's not all apartment dwellers downtown.  And rents seem like they're extremely inflated considering the median incomes right now.  Hopefully this glut will serve to drive some prices down a bit.

[Neigeville2]

I could see a lot of the currently under construction apartments going to condos sooner than later, at discounted prices and wiping out a lot of the equity of the developers and their partners. I really do not think we are too far from over saturation of new apartments.

Explain the logic here?  I can't get the rent I expected, so instead of accepting a lower rent for a few years while the market recovers, I'm going to dump the units on the condo market at a discounted rate and lose my equity forever? I've heard of the opposite (in Miami, for example), due to oversupply they can't sell condos for the price they want so instead they rent them as apartments for a few years, until the market recovers.  I don't see why that would work the other way around although I'm receptive to hearing the reasoning.

 

Personally I'm not buying that there is a glut of apartments, rents are outrageous and they are being set by people who are presumably not stupid and are getting real world feedback from the market every day.  

[BnaBreaker]

Perhaps it's just wishful thinking on my part, but it doesn't make sense to me either that there would be a glut of apartments, considering the fact that just a few short years ago we had a severe shortage of apartments. 

Edited September 18, 2014 by BnaBreaker

[TMcKay9]

From any measure there isn't a glut at all right now and the population growth in the city itself is accelerating.  I work with investors that own rental properties close to downtown on a daily basis and demand is still very high.  I lived in Pine Street Flats where they had zero trouble leasing the whole building even after two floods and going up $100 per month on rent.  I scratch my head sometimes and wonder where in the hell all these people are coming from because they are definitely coming.

[samsonh]

Explain the logic here?  I can't get the rent I expected, so instead of accepting a lower rent for a few years while the market recovers, I'm going to dump the units on the condo market at a discounted rate and lose my equity forever? I've heard of the opposite (in Miami, for example), due to oversupply they can't sell condos for the price they want so instead they rent them as apartments for a few years, until the market recovers.  I don't see why that would work the other way around although I'm receptive to hearing the reasoning.

 

Personally I'm not buying that there is a glut of apartments, rents are outrageous and they are being set by people who are presumably not stupid and are getting real world feedback from the market every day.  

 

It has more to do with the type of loan the developers take out for the construction. If they cannot pay the debt service or cannot pay their equity investors back in a short period they are in deep trouble. And yes the opposite does occur as well, it happened here with the Velocity.

 

I will say that I do not think the developers are stupid. I don't think the developers of the Terrazo, Icon, Velocity, and Rhythm were stupid either. But they built during a bubble and got burned.

[MLBrumby]

So-called Millenials are flocking to Nashville, with the tenth greatest gain in the country. Interestingly, Clarksville, TN had the sixth fastest growth rate. 

 

 

 

 

Millenials now make up 30 percent of Davidson County’s population, and the growth rate for that age group has mushroomed 37.1 percent between 2007 and 2013.

 

 

http://www.tennessean.com/story/money/2014/09/18/nashvilles-millenial-growth-among-nations-fastest/15828937/

Edited September 18, 2014 by MLBrumby

[UTgrad09]

Gen Y represent!

[NashRugger]

I have a feeling Clarksville's is skewed because of the influx of soldiers and airmen in Fort Campbell, which is of course in their MSA. 

[Rockatansky]

While much of the the 'flocking to Nashville' trend is folks moving here for jobs & culture, its also the result of many years of stunted household formation rates. During the Great Recession the US and the Nashville region saw significantly reduced household formation vs. the expected trend. Now that the economy is improving, Gen Y can finally move out of Mom's basement.  

[dmillsphoto]

Putting this here for now, until more is revealed. How cool would it be to have Bridgestone/Delek move downtown at the same time and into the same building?!

 

http://www.bizjournals.com/nashville/blog/real-estate/2014/09/running-out-of-room-in-brentwooddelek-may-move.html

[jdavidf]

Putting this here for now, until more is revealed. How cool would it be to have Bridgestone/Delek move downtown at the same time and into the same building?!

 

http://www.bizjournals.com/nashville/blog/real-estate/2014/09/running-out-of-room-in-brentwooddelek-may-move.html

 

[nashmoney]

Saw this on thrillist - 12 Things That Nashville Does Better Than Anyone Else

 

http://www.thrillist.com/entertainment/nashville/things-nashville-does-better-than-anywhere-else?utm_content=feature&utm_term=Nashville&utm_source=Sailthru&utm_medium=email&utm_campaign=9.24.14%20:%20Thrillist%20Digest

 

I do not completely agree with the writer on all 12 things, But I would say we do some better than most:

 

Music

Healthcare

Southern Food (Especially Hot Chicken)

Local Whiskey Scene

Colleges

Volunteers

Conventions

[Nashville Cliff]

Saw this on thrillist - 12 Things That Nashville Does Better Than Anyone Else

 

http://www.thrillist.com/entertainment/nashville/things-nashville-does-better-than-anywhere-else?utm_content=feature&utm_term=Nashville&utm_source=Sailthru&utm_medium=email&utm_campaign=9.24.14%20:%20Thrillist%20Digest

 

I do not completely agree with the writer on all 12 things, But I would say we do some better than most:

 

Music

Healthcare

Southern Food (Especially Hot Chicken)

Local Whiskey Scene

Colleges

Volunteers

Conventions

 

Yeah, they totally missed the mark when they said we do a good job of preserving and reusing historic buildings.