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smeagolsfree

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American Girl store headed for CoolSprings Galleria

 

http://www.tennessean.com/article/20140205/BUSINESS/302050150/American-Girl-store-headed-CoolSprings-Galleria

 

These dolls have quite the following. This store will do really well in Cool Springs.

 

I have walked by the stores in Atlanta and Chicago and they are always packed with customers.

 

Another retail win for Nashville!

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Large 300 acre mixed use project slated for SE Nashville.

http://www.tennessean.com/article/20140211/BUSINESS02/302110024/2095/BUSINESS02

I actually know that site VERY well. A childhood friend grew up on the property and I spent many days of my youth running around his "farm". His family fought off the offers for years, but I think they finally gave into Beaman 20 or so years ago.

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With all of the announcements recently, I didn't think we would keep greeting more. But I will say they will keep coming. I know of more that have not been announced or hearing rumors of others. We are still playing catch up with other cities our size and I figure we could go at this pace for a few years. Then, it could start feeding on itself. With more people you need more retail, restaurants, and services. Then you will have some major office projects coming in needing more workers, thus more people. We have been behind for so long, it's about time we started coming into our on.

Again, we are not in a building boom yet. Hopefully that comes this year or next.

Just wanted to share the passion for Nashville

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Smeagols,

 

I respect your opinion a ton, but I respectfully disagree. I think it is a pretty clear we are in a bubble at the moment, at least in the apartment market. You will see some of these developers lose all of their equity at some point in the years to come. You will see rent increases begin to flatten, then you will see landlords begin to make concessions like a free first month. I mean, 1500 new units in the Germantown area is a ton, and it will take awhile to absorb all of that imo.

 

I hope I am wrong and these buildings fill up immediately, but the number of units planned or under construction definitely gives me pause.

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I thought we were in a bubble too, however as the units are finished they are filling up and the rates are going up. According to recent studies the Nashville area is going to continue at a very strong pace. The demand for housing in the Urban core is tremendous. Buying or renting, this is where the younger generation and the empty nesters want to be and it is not just Nashville. This trend is happening all over urban areas everywhere in the country.

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I agree the trend is strong, I am a part of that trend! But the price points on these apartments are quite high, and I think there is a breaking point. We will not know where it is until we reach it, much like the housing bubble a few years ago, where many of the same arguments were used(new generation wants to live in urban core, emptynesters). The big variables are job and wage growth.

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I agree the trend is strong, I am a part of that trend! But the price points on these apartments are quite high, and I think there is a breaking point. We will not know where it is until we reach it, much like the housing bubble a few years ago, where many of the same arguments were used(new generation wants to live in urban core, emptynesters). The big variables are job and wage growth.

I agree. There are many young people that want to live in the city, yet they are dedicated teachers, social workers, church workers, retail associates, hospitality associates, musicians, artists, writers and such and they are not going to make 75K like a young software developer.

 

If they do not build nice units in the $650-$850 range, those people will not move to Germantown, East Nashville, 12 South, 8th Avenue South or the other hot areas because it's just too damn expensive.

 

These developers are going for the rich right now. They need to rethink their priorities.

Edited by Urban Architecture
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^^^ well said.

 

And that's why i get so frustrated when EVERY new development (apartments and condos) includes the "ammenities" like social room, concierge, gym, designer kitchen, etc. Just give me a decent sized space at an affordable price. I can handle the rest myself. 

Edited by nashvillwill
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^^^ well said.

 

And that's why i get so frustrated when EVERY new development (apartments and condos) includes the "ammenities" like social room, concierge, gym, designer kitchen, etc. Just give me a decent sized space at an affordable price. I can handle the rest myself. 

My wife and I were lucky to get into 5th and Main at an auction price, or we would still be living in Bellevue. Luckily East Nashville has not become priced out yet.

 

These developers need to understand the law of diminishing returns. As much as I like and respect Tony G. His price points need to come down, or The Sobro won't be leased out. Nashville rental rates are becoming exorbitant for our income strata here. 

 

Unfortunately Pine Street Lofts were to attract middle income, but the cutbacks in workmanship cost them dearly when the pipes broke due to poor insulation, or none at all. Developers need to learn the difference in "cheap" and "affordable."

 

There should also be consideration taken into account for those serving in the military, fire, and police. I would love to have them in the city for various reasons, but their salaries do not aide them in living downtown which is a shame.

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And that's why i get so frustrated when EVERY new development (apartments and condos) includes the "ammenities" like social room, concierge, gym, designer kitchen, etc. Just give me a decent sized space at an affordable price. I can handle the rest myself.

You're gonna be living out here in Antioch with me...

=maniacal laughter=

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Back in the 80's and early 90's Bellevue was one of the places that upper middle class young people would move to when they first arrived in Nashville. Now it's the city and they are willing to pay for it. As far as workforce apartments I think Main street should be lined with 5 to 10 story buildings with rents averaging 700 a month for a one bedroom. It being on the AMP line and a close distance to the city center is key IMO.

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If they do not build nice units in the $650-$850 range, those people will not move to Germantown, East Nashville, 12 South, 8th Avenue South or the other hot areas because it's just too damn expensive.

 

This is the only reason I am able to live in Germantown, my rent falls right in that range.

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As we all know it is very often the price of the land that determines the density and finish level and thus the required payback (purchase price and/or rent). A developer adds the gym, pool, sushi bar because he must charge high price points not the other way around. Now (Now their contribution to elevated HOA fees is on point).

We have had this same discussion every year and nothing changes. The developments get built and the developments sell/lease out. At some point a bubble will develop, a crash will occur, and the price points will be adjusted to the market rate. 

 

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This is the only reason I am able to live in Germantown, my rent falls right in that range.

You are able to rent in Germantown for between $650-$850/month?  May I ask where?  I could rent an apartment wherever you are and then rent out my little run down house in East Nashville for at least $1300/month and cover the difference.  Then all of the repairs that I have to make on my house would be deductible.

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You are able to rent in Germantown for between $650-$850/month?  May I ask where?  I could rent an apartment wherever you are and then rent out my little run down house in East Nashville for at least $1300/month and cover the difference.  Then all of the repairs that I have to make on my house would be deductible.

 

Station Lofts, across from Werthan on Rosa Parks....while not technically Germantown, I can spit across the street and be in Germantown. My building is rent controlled, I moved in when it was first built and the rent was based off of what I was making at that time 5 years ago and they are not able to change it. I have a loft unit on the top floor with an incredible view of the skyline....I am not moving anytime soon until im ready to settle down and buy a house near where I grew up in Inglewood/ East Nashville.

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