Nashville Bits and Pieces

[Luvemtall]

Maybe this could be the planned hotel that Mark McDonald is set to build at 1001 16th Avenue.

[markhollin]

Parks and Village Real Estate merge to form  the largest residential real estate company in Tennessee:

https://www.nashvillepost.com/business/mergers-acquisitions/article/21111346/parks-village-real-estate-merge

[markhollin]

List of Nashville's Biggest Hotels, courtesy of NBJ:
 

[rolly]

The top 5 downtown:

800 Omni 

533 JW Marriot

482 Sheraton

470 Tri-brand

456  Westin

[NashWellington11]

42 minutes ago, rolly said:

The top 5 downtown:

800 Omni 

533 JW Marriot

482 Sheraton

470 Tri-brand

456  Westin

Skipped the Renaissance.

The top 5 downtown should be:

800 Omni 

673  Renaissance

533 JW Marriott

482 Sheraton

470 Tri-brand

Edited January 21, 2020 by NashWellington11

[grilled_cheese]

https://www.bizjournals.com/nashville/news/2020/01/21/this-company-says-it-will-fix-your-smile-it-may.html

[titanhog]

I have a question for you guys regarding retail in the future.

As citizens who grew up shopping at brick and mortar retail ONLY ages...what does the future hold for non-online retail?  Which b&m retail will survive and which will fade?

I'm 54 years old...grew up with only b&m but was young enough when online shopping rose to prominence to accept it...and now mostly ONLY use online shopping.

What are millennials and GenZ folks wanting (because they will shape the next few decades)?  Makes me wonder what will happen with places like Green Hills Mall...and even the retail at places like 5+Broad, Nashville Yards, etc.

Edited January 22, 2020 by titanhog

[Nashville Cliff]

20 minutes ago, titanhog said:

I have a question for you guys regarding retail in the future.

As citizens who grew up shopping at brick and mortar retail ONLY ages...what does the future hold for non-online retail?  Which b&m retail will survive and which will fade?

I'm 54 years old...grew up with only b&m but was young enough when online shopping rose to prominence to accept it...and now mostly ONLY use online shopping.

What are millennials and GenZ folks wanting (because they will shape the next few decades)?  Makes me wonder what will happen with places like Green Hills Mall...and even the retail at places like 5+Broad, Nashville Yards, etc.

I'm about the same age and have a similar experience. I think it will be only niche, local retail and retail that benefits from in-person customer service that thrive b&m in the future. Unless some game changer, like a huge increase in transportation costs or a complete collapse of online security, somehow levels the playing field.

[DDIG]

25 minutes ago, titanhog said:

I have a question for you guys regarding retail in the future.

As citizens who grew up shopping at brick and mortar retail ONLY ages...what does the future hold for non-online retail?  Which b&m retail will survive and which will fade?

I'm 54 years old...grew up with only b&m but was young enough when online shopping rose to prominence to accept it...and now mostly ONLY use online shopping.

What are millennials and GenZ folks wanting (because they will shape the next few decades)?  Makes me wonder what will happen with places like Green Hills Mall...and even the retail at places like 5+Broad, Nashville Yards, etc.

 

Retail industry will actually tell you there is beginning to be a shift BACK to brick & mortar because online shopping is getting so overcrowded with sameness. You are also ironically seeing stores that started as online only diving headfirst into B&M (see stuff like Untuckit and Bonobos or even Amazon).

It is above my pay-grade to speak expertly on this, but I've heard it said from quite a few knowledgeable people of late.

Edited January 22, 2020 by DDIG

[smeagolsfree]

I have read a few article recently stating that retail space rents are actually going up even in areas where there are high vacancies. It depend where it is, malls will keep rates high in order to keep out so call riff raff stores that bring down the caliber of the other stores in the mall.

Now there have been a  lot of shopping malls closed and I think that trend will continue, but place like GHM and CSM will be fine, along with the factory stores and malls like Opry Mills has.

A lot depends on what is around those malls too and the household income and spending power of those nearby households. You ae always going to have people that want their stuff right now and want to see it before they buy. One of the downfalls of online buying is the amount of fake reviews a lot of these products get, so its buyer beware.

Places that are heavy tourist and travel destinations will be able to survive the retail issues as well.

I did see one of the rents I think is was Forever 21 or one of those big name brand that were marked for bankruptcy and the store rent in Times Square was 20 million a year.

[PaulChinetti]

@titanhog before the Christmas season, where I went to the store once, I hadn't been to a B&M retail store for, conservatively, 6-9 months. 

Everything is online for me personally. I think @DDIG is right, Amazon used to be the top place I would go, but there is so much crap on there now and the site is so painful to use, that I find myself on individual brand sites. Also brands that are good with communication, quick shipping, and answering questions definitely get my repeat business. 

I'm not want to shop all the time though. I will find something I like and buy a few and wear it out until it wears out. My wife I would say does a 50/50 online versus retail.

We are both 36.

[fishsticks176]

I’ll chime in as a 30 y/o male. I only shop online for specialized items. If I’m shopping for clothes, I want to be able to try them on. If I’m shopping for necessities, I want it now and not in 24-48 hours. If I’m shopping for furniture, I need to be able to see the spaciality of it. If I’m shopping for pretty much anything else, I still want to be able to browse the options and get guidance from someone in-store.

I think that online shopping was novel for a while but now that so much of life has become centered around the computer, people will want a respite from that. For as much talk as there always is about millennials preferring the “experience” of things, that concept rarely gets applied to brick and mortar retail, and I think it should.

Then again, I also do my banking in-person at my local branch and pick up my own to-go orders, so maybe I’m just weird.

Edited January 23, 2020 by fishsticks176

[titanhog]

1 hour ago, fishsticks176 said:

I’ll chime in as a 30 y/o male. I only shop online for specialized items. If I’m shopping for clothes, I want to be able to try them on. If I’m shopping for necessities, I want it now and not in 24-48 hours. If I’m shopping for furniture, I need to be able to see the spaciality of it. If I’m shopping for pretty much anything else, I still want to be able to browse the options and get guidance from someone in-store.

I think that online shopping was novel for a while but now that so much of life has become centered around the computer, people will want a respite from that. For as much talk as there always is about millennials preferring the “experience” of things, that concept rarely gets applied to brick and mortar retail, and I think it should.

Then again, I also do my banking in-person at my local branch and pick up my own to-go orders, so maybe I’m just weird.

You're an old soul 

[PaulChinetti]

Banking in person, the HORROR! 

[DDIG]

I'm telling y'all some economic development stuff is reaching Defcon 5. Some crazy behavior. The below article is a "know who to blame" notice. 

https://www.bizjournals.com/nashville/news/2020/01/23/mayor-cooper-is-nashvilles-chief-recruiting.html?iana=hpmvp_nsh_news_headline

[downtownresident]

12 minutes ago, DDIG said:

I'm telling y'all some economic development stuff is reaching Defcon 5. Some crazy behavior. The below article is a "know who to blame" notice. 

https://www.bizjournals.com/nashville/news/2020/01/23/mayor-cooper-is-nashvilles-chief-recruiting.html?iana=hpmvp_nsh_news_headline

That didn’t read necessarily negative. 

[DDIG]

2 minutes ago, downtownresident said:

That didn’t read necessarily negative. 

It is not negative at all. Nothing to gain from going negative. But it is making sure everyone knows who is absolutely and solely in control on the city side.

[CenterHill]

1 hour ago, DDIG said:

It is not negative at all. Nothing to gain from going negative. But it is making sure everyone knows who is absolutely and solely in control on the city side.

Agree, and it was made abundantly clear with the resignation of the director of Economic Development at the end of the year.    In fact, the entire Office of Economic Development department seems to have disappeared from the Nashville.gov website, replaced by a page called "Economic Opportunity (Mayor's Office)".     

[MLBrumby]

4 hours ago, DDIG said:

It is not negative at all. Nothing to gain from going negative. But it is making sure everyone knows who is absolutely and solely in control on the city side.

You're so right about this. The DECD wants to be sure the people of Middle Tennessee know that they're still 'full steam ahead' and Cooper is going to be  a problem going forward, but they won't be to blame for the big fish that gets away. Just trying to get ahead. 

Edited January 23, 2020 by MLBrumby

[downtownresident]

And now this, RE: Economic Development and Oracle. Per the Business Journal, Mayor Cooper and Gov. Lee met with Oracle this week  

https://www.bizjournals.com/nashville/news/2020/01/24/exclusive-mayor-cooper-gov-lee-met-with-oracle.html?ana=fbk

Edited January 24, 2020 by downtownresident
Added more context.

[Hey_Hey]

I don't really know what to make of all the economic development news from the city lately. Maybe Cooper is trying to call different companies' bluffs and attract them without city incentives. To be honest the city component of these economic development deals are fairly minimal. The state is the biggest player in terms of shear monetary value of the incentives.  It seems like I have read that the Nashville incentives are something like $1000/year/employee for five years (those details may be off somewhat), so even a large office of 1000 people will only result in $1 million/year of benefit to the company. In the grand scheme of things the business climate,  cost of living, ability to attract talent, and commercial real estate prices are much, much more significant factors in the overall analysis.  However, companies want to go where they are desired, and if $$$ is the only way to show that desire then maybe we'll lose out on these deals for that reason. 

[markhollin]

The Post confirms that Hilton is indeed targeting Nashville for its just-announced Tempo brand.

In addition to Nashville, other markets for which the brand is eyed include New York, Maui, Boston, Los Angeles, Lexington, Nashville, San Diego, Charlotte, Washington D.C., Houston and Atlanta. There are “more than 30 individual commitments to date with properties confirmed,” according to a press release.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/tourism/article/21112513/hilton-taps-nashville-for-new-brand

[markhollin]

The Titans' Steve Underwood (President and CEO) says they are expressing informal interest to the NFL to host a Super Bowl at Nissan Stadium sometime this decade.  The team submitted their expression of interest in August, four months after Music City hosted the record-setting 2019 NFL Draft. The NFL has selected host cities for the Super Bowl through 2024.

“Everyone knows what our weaknesses [are]: We have a 23-year-old stadium that’s open-air,” Underwood said during Wednesday's panel. “In winter time it can be cold and have very inclement weather for a Super Bowl."

Underwood continued, “It’s way too early to know, but the league certainly can see from what happened with the draft that we’re more than capable of hosting a Super Bowl here.”

As Underwood stated, the open-air stadium and unpredictable weather would be Nissan Stadium’s biggest drawback, but Nissan would also need renovations that range from improved internal and external signage to a better sound system before hosting a Super Bowl.

After a facilities assessment, Metro consultants revealed in 2017 that Nissan Stadium needed nearly $300 million worth of renovations over the next 20 years. Given the rising costs of construction and labor in the city, those numbers could continue to climb the longer improvements get pushed.

Nissan Stadium’s capacity is listed at 69,143, but Underwood said an additional 11,000 seats could be added for the big game.

“Our stadium was designed and constructed so we could put an additional 5,000-capacity grandstands in both of our endzone plazas,” Underwood said. “We could put 80,000 people in the building without any standing-room-only for a Super Bowl.”

In addition to being another spotlight on Nashville, hosting the Super Bowl could inject hundreds of millions of dollars into the local economy. Based on past experiences, this weekend's Super Bowl in Miami could have an economic impact in excess of $500 million, according to The Miami Herald.

“Nashville, in terms of the infrastructure needed for a Super Bowl, excels in our judgment,” Underwood said. “We have more than enough hotel rooms. Our hospitality here is legendary. All you have to do is ask the people who came for the draft: They had a great time, not just with the draft experience, but with all the hospitality that Nashville has to offer. Yes, we are interested in hosting a Super Bowl here. I don’t know how good our chances are, but they also said we’d never host a draft here.”

More behind the NBJ paywall here:

https://www.bizjournals.com/nashville/news/2020/01/29/titans-ceo-says-team-wants-to-host-a-super-bowl-in.html?iana=hpmvp_nsh_news_headline&s=print

[Craiger]

I assume this is almost more of a pitch to the city to pump money into the stadium than it is to get the Super Bowl... 

let’s pay our teachers, firefighters, and police first. Oh and maybe get some sidewalks.

[markhollin]

The Greater Nashville Regional Council has released new estimates on how the region's population and employment numbers will grow over the next 25 years.
 

• Cheatham County: 40,000 to 54,000, 36% growth
• Davidson County: 685,000 to 848,000, 24% growth
• Dickson County: 52,000 to 66,000, 28% growth
• Houston County: 8,200 to 10,200, 24% growth
• Humphreys County: 18,000 to 20,000, 10% growth
• Maury County: 89,000 to 117,000, 32% growth
• Montgomery County: 196,000 to 344,000, 75% growth
• Robertson County: 70,000 to 101,000, 46% growth
• Rutherford County: 306,000 to 556,000, 81% growth
• Stewart County: 13,000 to 16,000, 20% growth
• Sumner County: 179,000 to 280,000, 56% growth
• Trousdale County: 8,800 to 10,000, 16% growth
• Williamson County: 220,000 to 548,000, 149% growth
• Wilson: 133,000 to 257,000,  94% growth
  
  TOTALS: 2,018,000 in 2018 to 3,227,000 in 2045 (59% growth)

More at NBJ here:

https://www.bizjournals.com/nashville/news/2020/01/30/reportnew-population-estimates-highlight-need-for.html?iana=hpmvp_nsh_news_headline

Population:

Employment: