Jump to content

Music City Center, 1.2 million sq. ft., $623 million

nashvol85

By nashvol85
in Nashville

 Share

Recommended Posts

dmillsphoto Town

dmillsphoto

Posted
Posted

I noticed the mention of $300,000,000 for the hotel portion. While it is only a mention I would think that would be QUITE a hotel considering it costs as much as Signature Tower. My bet is if built that portion would have to be at least 50 stories and probably 500-600+ feet tall. (a legitimate 600 feet unlike the two spikes on the Batman Building).

I noticed that... I think it's overestimated. $300m would mean that it's using as much marble as Schemmerhorn has on it's floors and banisters. Not to mention construction costs are so low right now - but maybe there is a point in all this. Overestimation riles up the nay-sayers, then, surprise when it comes out cheaper. But yeah, $300m, if fulfilled, says to me a 550'-625' Grand Hyatt. Or the cost is for a 400' at best Ritz.

Link to comment
Share on other sites
  • 1 month later...

  • Replies 768
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

Popular Posts

markhollin
markhollin
markhollin
markhollin

Signage on Music City Circle complete. Looking north from Music City Circle: Looking east from Music City Circle:

titanhog
titanhog

Was thinking about the MCC and their idea to add on more meeting space...and I know we had talked about them possibly going north across Demonbreun on the back of the Baptist parking lot (across from

Posted Images

  • 3 weeks later...
dmillsphoto Town

dmillsphoto

Posted
Posted

This week, purchase offers for land begin to go out.

$75 million loan available to fund buying of 15.87 acres of land.

http://www.tennessean.com/article/20090804...nvention+center

And let the flying begin about how Metro paid $4mil for it a few years back, and how they will use all $75mil to buy it back... because fair value+buyout commission is going to equal all of that money, instead of maybe $30-$40 million.

Link to comment
Share on other sites
producer2 Hamlet

producer2

Posted
Posted

And let the flying begin about how Metro paid $4mil for it a few years back, and how they will use all $75mil to buy it back... because fair value+buyout commission is going to equal all of that money, instead of maybe $30-$40 million.

Just remember if all is done correctly THEY won't be paying for anything. The tax fund created to pay for it will. Still it would be great if it cost less....

Link to comment
Share on other sites
  • 3 weeks later...
smeagolsfree Gigalopolis

smeagolsfree

Posted
Posted

I know offers went out on properties this week and the offer for the AutoHaus was about a half million short of what it will cost them to move the business. I am afraid there will be lawsuits that hold this thing up even longer. The council , MDHA and who ever else is going to slow this down for months if they are not careful.

Here is the article about the offers:

http://www.newschannel5.com/Global/story.asp?S=11005875

Link to comment
Share on other sites
producer2 Hamlet

producer2

Posted
Posted

"MDHA said they will continue to work with Fischer to reach an agreement. They've even offered to pay all of Fischer's moving expenses and pledges a commitment to minimizing the disruption of his business."

They (the city) will do the right thing IF it is a realistic scenario. I am sure that Mr. Fischer is sincere. I hope all landowners are the same through this process.

Link to comment
Share on other sites
MidTenn1 Town

MidTenn1

Posted
Posted

I assume the City can exercise condemnation proceedings and get rights of entry to keep the property acquisition on schedule. The only thing left to settle in court would be the price of the land and when a landowner brings the government in front of a jury, the landowner usually wins. The initial project property acquisition estimates are usually low-balled for purposes of establishing a negotiating starting point and to attract funding approval. The reality is often something drastically different.

Link to comment
Share on other sites
producer2 Hamlet

producer2

Posted
Posted (edited)

Wish I did but it is all up to the City and how swiftly they move forward. I feel like (no real facts to support this) that we will see a final vote before Thanksgiving although some Council members have said they think during the Christmas Holiday time period.

Edited by producer2
Link to comment
Share on other sites
  • 2 months later...
producer2 Hamlet

producer2

Posted
Posted

More convention center drama.. i'm not sure what to think of all this.. i'd hate to lose the Musician's Hall of Fame, especially when the new convention center is not even approved yet!

Musicians Hall of Fame, Nashville landowners fight eminent domain

You have to get to the end of the article to get the real meat and potatoes... and I quote...

Chambers, who flew to Los Angeles last week to talk about the possibility of moving the hall of fame there, said he hopes he can keep it here, even at the expense of finding an interim site for the next three years. And he hopes the convention center will get built no matter what.

"I'd like nothing better for the museum than to see it go in the convention center," he said Friday. "There are a lot of cities that would like to have a venue like this as a draw. But Nashville is Nashville, and the reason we opened up here in the first place is that it's Nashville."

He is clearly looking for more money as is Tower, etc., he will not move this somewhere else.

Link to comment
Share on other sites
  • 2 weeks later...
smeagolsfree Gigalopolis

smeagolsfree

Posted
Posted

With the announcement of the medical mart, the Metro council will have to approve the CC rather quickly now that they have a real incentive to do so. I think things will move a lot faster now. The Medical mart will squash any nay Sayers because of the taxes that will be generated by the Med mart and the new CC combined. Besides, who wants to turn down 2600 permanent jobs in a down economy

Link to comment
Share on other sites
orbit_joshg Crossroads

orbit_joshg

Posted
Posted

With the announcement of the medical mart, the Metro council will have to approve the CC rather quickly now that they have a real incentive to do so. I think things will move a lot faster now. The Medical mart will squash any nay Sayers because of the taxes that will be generated by the Med mart and the new CC combined. Besides, who wants to turn down 2600 permanent jobs in a down economy

Well it appears we have begun a rat race here, with Cleveland and New York among others, who are planning on building similar venues like the MedMart. I'm intrigued by what is going to happen tonight at the Metro Council meeting!

NBJ on MCC

Link to comment
Share on other sites
MidTenn1 Town

MidTenn1

Posted
Posted

Well it appears we have begun a rat race here, with Cleveland and New York among others, who are planning on building similar venues like the MedMart. I'm intrigued by what is going to happen tonight at the Metro Council meeting!

NBJ on MCC

Mayor Dean just announced that he will not include the proposed hotel in the funding request. He will depend on private developers to meet whatever needs there may be for such a facility.

Link to comment
Share on other sites
producer2 Hamlet

producer2

Posted
Posted

Mayor Dean just announced that he will not include the proposed hotel in the funding request. He will depend on private developers to meet whatever needs there may be for such a facility.

Not quite, he is looking for private investment and has time to do so because the hotel can be built in 2 years instead of 3. If none are found he still has the option to build it and have it be City owned. He would prefer to not be in that position but the administration understands the need for the hotel to make the MCC more attractive.

Link to comment
Share on other sites
  • 1 month later...
timmay143 Burg

timmay143

Posted
Posted (edited)

The CC vote passed the Metro Council. Construction is to start in 2-3 months and be done by 2013. I was personally in favor of the project. I think it will be a big boost if done right, especially with the Medical Mart moving in the old CC.

Nashville will build new convention hall downtown

JANUARY 19, 2010

Nashville2_bing.gif will build a $585 million convention center just south of the downtown arena, the Metro Council decided tonight.

The 1.2 million-square-foot facility is scheduled to open in the first quarter of 2013, with construction starting in 60 to 90 days.

The council's 29-9 vote ended a contentious debate about the city's ability to draw enough convention-goers and other visitors to pay off debt that will approach $40 million a year most years. If the visitor revenues fall short of projections, the city might have to tap certain revenues from its general fund, though property taxes can't be used on the project.

Some other cities have struggled to find the demand to fill their convention space. But Mayor Karl Dean's2_bing.gif administration said the revenue projections were conservative.

Edited by timmay143
  • Like 1
Link to comment
Share on other sites
  • 2 weeks later...
smeagolsfree Gigalopolis

smeagolsfree

Posted
Posted

Just a few things to bring everyone up to date on this. Tower Development lost the fight for the property they own and have to give it to the city. The question is the price. The strip club on 8th is now settled. The NES substation is going where Rocket Town is. There are construction trailers behind the Greyhound station and demolition on some properties will start soon. All Metro parking lots are now closed. I know I am probably missing a few items but I sure one of you guys will correct it.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing

  • 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.