Walden Open For Business in East Nashville

I got a chance to see some of the condos in the new Walden Development the other day and I was quite impressed. They advertise it as a 'true mixed-use' development and that's what makes it so cool. They are building a live/work community and already have the requisite coffeeshop, Ugly Mugs Coffee and Tea, and the Fresh Blends Smoothie and Juice Bar with more to come.

Walden is located on Eastland Avenue at Chapel Ave between the Lockeland Springs and Eastwood Neighborhoods. There is a main entrance for business patrons, but condo residents will like the more private second entrance which allows you to park a few steps from your front door on the back of the building. Even though they are on the second floor, there isn't an long flight of steps to get to your unit.

Having seen many of the condo projects around town, this one will really appeal to someone wanting to live in a pedestrian friendly neighborhood, close to restaurants like the Rosepepper or Eastland Cafe and still be only a few minutes from downtown, universities or music row.

The units themselves are high-quality with polished concrete floors, high-end quartz countertops and designer everything. It's not like some of the other condos around town that might have a great location, but the cabinets are low-grade. These are consistent from the impressive glass-tiled backsplashes to the marble topped vanities.

The prices start at $184,900 for a 712 sq. ft. 1 bedroom to the incredible corner residence above the coffeeshop with 1518 sq. ft. and 2 bedrooms for $339,900.

East Nashville has made some major progress over the past 5-10 years, but with projects like this and Martin Corner underway, it appears that things are just beginning for this growing neighborhood. March Egerton, the developer for Walden, has many more plans for the site, beginning with the adjacent building that may soon be overhauled to become home to more commercial space.

If you are looking for your place in Nashville give me a call.

-Peter

www.NashvilleCityHomes.com

Nashville- One of Ten Least Expensive for Home Ownership

A recent article by Forbes has given us the ten least expensive places to own a home with Nashville in sixth place. Cleveland was the cheapest in their report, but it lacks our Southern charm and the Bluebird Cafe, right? :)

Most of their analysis on why cities are more expensive is based on amount of land that the city is confined to. Expensive places like San Fransisco and New York are geographically trapped so their home costs continue to rise. In Nashville, prices have risen, for the most part, but there is plenty of land around the city to expand to, and we are.

If you've been to any of the surrounding counties around Nashville then you've seen this expansion. Whether it's Murfreesboro, Hendersonville, Franklin, Lebanon, or even Dickson, there are new subdivisions and major shopping developments going in everywhere. The controversial new interstate 840 connects many of these outlying areas. (New interstates are always controversial, aren't they? Who votes to build one through your neighborhood?)

All this is happening while downtown is also seeing more demand. I'm amazed how the skyline has changed just in the past few years as new condo residences have come to Midtown, SoBro and the Gulch, as well as all the nearby historic neighborhoods are being overhauled with lots of home renovations and new commercial districts. Most notable are popular areas like Germantown and East Nashville.

I'm glad that we can have such a vibrant city to call home and it's also one of the most affordable in the nation. Like any market we have our ups and downs, but the trend is a healthy upward one with lots of exciting new things to look forward to and enjoy along the way.

-Peter

www.NashvilleCityHomes.com

Update on 800 Main in East Nashville

In May, I shared some news about a couple developments coming to the Main Street corridor in East Nashville. I recently heard an exciting update regarding the 800 Main development which may be a major step toward revitalizing this stretch of Main Street that leads into East Nashville.

The plans for 800 Main will replace the current Bank of America building with new structure containing 25,000 square feet of retail space on the first floor, with around 330 rental units in the top three floors.

Many of the units, ranging from 1 to 2 bedrooms, will border small courtyards in the all brick building made to complement the historic roots of the neighborhood. The Tennessean reports that they are hoping to break ground next spring and finish by Summer 2010.

The Nashville Business Journal expects rents to range from $830 to $1800 per month. Not exactly cheap, but there is a rooftop pool and clubhouse included, as well as off-street parking.

Another exciting part of this project is that they may actually get it done. The main developer, Double A Development, completed the District Lofts in Germantown earlier this year. Their partner, Lane Company was part of the huge project in Atlanta called Atlantic Station.

-Peter

www.NashvilleCityHomes.com

Germantown Plans and Condos Everywhere!

I've been touring many of Germantown's cool new developments with a client moving here from Seattle. It's been great to compare the different units and get an intimate feel for how the area is poised for continued momentum. Let me highlight some of my favorites:

Werthan Lofts- Wow! There is nothing else like it in Nashville. A true factory that is being converted into fantastic loft space with tall ceilings and nice views. Even more, they are creating a new community space complete with pool, dog run, bocce ball court and a coming-soon cafe+nightspot in the 'boiler room'. The vibe here is awesome, especially on cool evenings when folks gather outdoors.

Morgan Park Place- Like Werthan, this project is yet to be finished, however, the available units are quite stunning. Lots of upscale finishes and over-the-top efforts in 'green-building'. They've actually received top awards for their energy efficiency techniques that might save you quite a bit when it comes to your monthly utilities.

Row 8.9- This development has been complete for a few years now, but occasionally units come up for sale. It's a "Chicago-style brownstone" development, which means the units are aligned in a row with steps down the street. The units on Rosa L. Parks Blvd have unbeatable views of the capitol and downtown skyline while being literally across the street from the Farmer's Market and Bicentennial Park. All of these for a very reasonable price- lower than most of the other similar units around town.

There are many others to check out if you're interested, and it seems that there is no stopping these developers who are forging ahead in Germantown. The whole neighborhood is full of new condos and historic-looking infill homes built to reinforce the roots of the neighborhood while adding the modern amenities that people demand these days.

Guiding much of the development is a Detailed Neighborhood Design Plan that the Metro Planning Commission put together in 2002. It's quite interesting, especially if you live in the area or are considering it.

-Peter

www.NashvilleCityHomes.com

Convention Center Debate Continues

The debate for and against the proposed Music City Center is heating up as plans begin to materialize for a new convention facility to be built downtown in SoBro (South of Broadway) and replace our current one.

The Nashville City Paper reports that it's one of the largest building programs in the U.S. right now with a projected cost of $635 million.

I'm actually excited about the prospect, mainly because it seems like it would spur more development in SoBro and maybe bring more life to this developing area, as well as the entire downtown.

I grew up in Indiana and always enjoyed going to the convention center in Indianapolis. They redeveloped it with the huge Circle Center Mall and did a great job of connecting the mall and convention center with parking and other attractions. You could easily walk to everything without even going outside if you wanted to.

Admittedly, I'm quite ignorant when it comes to how profitable these centers are and if it's worth the debt that will result. The comments in the blogosphere are quite fierce on this subject. It's a topic worth debating, but I'll leave the debate to others.

It doesn't sound like they're even at the design phase yet, but a couple local citizen groups have proposed some nice plans that are against the 'big box' type of convention center, but instead a incorporate lots of retail/restaurant/office space in such a way that will be an attraction for those of us locals not attending a convention.

The folks at http://www.mccproject.com/ propose a more pedestrian friendly design that would connect nicely with the other downtown tourist spots like the Country Music Hall of Fame and the Schermerhorn Symphony Center. Visit their website and check out all the conceptual pics.

The Music City Center Coalition is another group that is advocating the new development. On their website they make their case for the new Center and how to get it done, along with lots of news releases. Lots of interesting information.

If you ask me, it just seems like the logical next step for a growing city like Nashville, especially considering the amount of tourism we have here. It will be interesting to see what happens as downtown continues through these growing pains and becomes a bigger metropolitan area.

I'll try to stay on top of the news for you!

-Peter

www.NashvilleCityHomes.com

More Development Coming to Main Street Corridor

The momentum in the commercial district connecting downtown to East Nashville’s “Five Points” continues as two new developments are in the works.

East River Place Apartments
Just a block off Main Street at the corner of 8th and Ramsey will soon be the new East River Place Apartments. Demolition is slated to begin this month, which is currently home to the “blighted” Silverdene Apartments. The new $14 million, 90 unit complex will contain 2 and 3 bedroom apartments and meet some of the demand for affordable housing in the area. The developer, East River Holdings, is aiming for a completion date of December 2009. (more about this)

800 Main Street
This three-acre parcel was previously home to a Bank of America processing facility and at one time rumored to become a private school. Double A Development, with projects in Germantown to its credit, bought the property on May 5th for $3 million according to tax records. Plans are still being finalized, but the Tennessean reports that the $45 million mixed use project will include retail space and apartments.

As I tell my clients purchasing a home in East Nashville, it’s a good thing to see people investing this kind of money in your neighborhood. It’s a good forecast of the long-term future of an area, especially when you see several different players involved.

If you’ve ever driven down Main street toward Five Points you know that there are plenty of vacant and burned out businesses yet to be rejuvenated. It will happen, but it takes time.

-Peter
www.NashvilleCityHomes.com

Loft or Condo?

I've been showing some of our fine new loft/condo developments in downtown Nashville lately, and I've noticed that it has become more difficult to define exactly what a loft is and how it is different from a condo. The words have unfortunately become more interchangeable, many times loosing their specific meanings.

So what’s the difference? Here’s how I think of it: A loft is a type of condominium that is basically one large room, often converted into residential space from some other use. Sometimes there are partitions or curtains to separate the bedroom, but generally it's one large space. Lofts are often more industrial looking, (especially if it's a conversion) with exposed ductwork and beams and other utilities.

The loft concept has gained popularity to the point where we also have "loft-style" condos. These may be a little more conservative, but still offer a large open living space. There are many variations of this.

A good loft example may be the Werthan Lofts which have been converted from the Werthan bag factory built in 1850. Here’s a picture:

I’m a big fan of lofts, but I also like having some grass. It’s a hard mix, I know.

Shopping for a loft or condo? Call me today.

-Peter
www.NashvilleCityHomes.com
REALTOR. City Home Specialist

How Nashville Skyscrapers Stack Up

If you're following all the buzz about new downtown developments in Nashville, you might want to check out SkyscraperPage.com. Today I found an interactive lineup which is a neat way to compare the tallest buildings in Nashville and see how they rank. Here's the link.

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

Filling the Gaps Downtown

One of the greatest things about the redevelopment and new construction happening around downtown is how Nashville is becoming less segmented. Many of the 'margins' between very distinct areas are getting harder to find.

For example, do you remember just a few years back when Demonbrean Street by Music Row was lined with vacant buildings? Now the street is lined with trendy restaurants and boutiques and a new Condo/Retail tower, Rhythm on Music Row, is coming soon. The street itself has also improved as a new bridge over I-40 connects the area to SoBro where the Schermerhorn Symphony Center and the Frist Center are located.

Speaking of SoBro, I found this really cool interactive graphic from the Tennessean depicting many the developments south of Broadway. It's a little outdated, but a great way to explore the area.

Downtown, just inside I-40, is a quickly developing area dubbed the "Gulch". Not long ago this was a dark area known for its 'seedy' businesses. Now the area has been transformed as several high-rise condo towers are planned and currently under construction. It's become one of the hottest neighborhoods in town.

On the other side of downtown, two new bridges have come along in the past few years connecting Sobro to LP Field and East Nashville with easy access to I-24. Hopefully coming soon, the ambitious Riverfront redevelopment will further join downtown with greenways and river recreation. The 5th and Main condominiums are also helping to fill some of the 'gaps' between downtown and East Nashville.

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

Pictures of Nashville Developments.

I love to browse renderings of the developments going on around Nashville. This morning I found a great message board at Urban Planet with most of them listed in one place. Some of these are complete, but many are still underway or will be soon underway.

Put on your seatbelts because changes are happening in Nashville! Here are some links to the renderings:

1811 18th Ave.
Art Avenue Lofts
Belmont University College of Heath Sciences Building
Belmont University Thrailkill Hall
Bristol West End
Metro Civic Square and Parking Structure
Demonbreun Street Bridge
Rolling Mill Hill
Shermerhorn Symphony Center
The Adelicia Condos
The Encore
The Icon
The Midtown Lofts
The Viridian
The West End
Vanderbilt Commons Dining Hall
Vanderbilt Commons Freshman Dorms
Werthan Mills
Vanderbilt UMC Imaging Science Building
Vanderbilt UMC Langford Light Hall
Summer St. Lofts
Suntrust Building
MTA Transit center
The Meridian
The West End Summit I & II
The Signature Tower
Sounds Baseball Stadium
5th and Main
The Woodmont & Kenner
The Belle Meade Theater
The Terrazzo
Cumberland Yacht Harbor
East Bank Arts Project

Any questions about these? Looking for a condo downtown? Give me a call!

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

Looking North on I-65

Last weekend we took a couple days to visit my family in Indiana. On the way home I was checking out some of Nashville's 'competition' in Indianapolis and Louisville. Of course, I'm a little biased about our fine city, but I was curious to know if these other large cities were seeing the same sort of massive demand for downtown living as we're having here in Nashville.

My first impression on my quick drive through the cities is that I didn't notice near as many super-sized cranes and building projects as we have in Nashville. I didn't want to be quick to judge so I did a little research to see what I could dig up.

Louisville has some incredible things happening downtown. Most impressive to me is this Museum Plaza development (see picture). Wow! That is one amazing structure. Inside will be a little of everything including apartments, condos, retail, office space and, of course, a contemporary arts museum. There are lot of other projects going on as well in this city famous for sluggers and the riverfront. Here's a great article with more from the City of Louisville.

Growing up in Indiana, I know that Indianapolis has seen a lot of movement downtown. A few years back the Circle Centre Mall opened as well as the highly rated Conseco Fieldhouse, home of the Pacers. It was a little more difficult to find a lot of new development here although there are proposals coming in for redeveloping the site where the demolished Market Square Arena once stood. The condo market is in high demand, however. Here's an info guide to Indianapolis condos.

Though these cities are also seeing a rise in demand for downtown living, Nashville definitely seems unique in the amount of projects that are currently underway. Read more about Nashville's downtown developments here.

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

The Ripple Effect and Gallatin Road

Many of my East Nashville home buyers have told me that they're not interested in "anything west of Gallatin Road". However, as the demand continues for homes in East Nashville, many neighborhoods surrounding the hot Lockeland Springs or Historic Edgefield areas are experiencing the ripple effect. Places west of Gallatin Road such as Renraw, East Hill, Cleveland Park and Maxwell Heights are seeing more demand and more homes being renovated.

As an example, let's take a closer look at Maxwell Heights. I just posted a CITY NEWS article about some of the happenings in this neighborhood. From the new street signs to the new West Eastland condo development to the numerous homes that are being renovated, it feels like the entire area is getting a facelift. Driving through the other day, I could feel the excitement. (I know I'm a little strange!) Click here for an interesting article with more pictures from the Tennessean.


I've always loved seeing neglected buildings and historical neighborhoods given a new life. I'm excited to see what's ahead for these neighborhoods that contain so many incredible historic homes and wonderful people.

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.

Two Homes of the Future

In cities across the U.S. people are 'rediscovering' downtown living- forsaking the suburbs to live within walking distance of restaurants, parks and entertainment venues. This is definitely true in Nashville as we see downtown condos selling out rapidly and new construction everywhere.

The 2007 International Builder’s Show in Orlando highlighted this trend by building two different, yet incredible model homes on the same street in a historic part of Orlando. Both of the homes were built to show off the latest innovations and technologies in home building and reflect both the challenges and advantages to an 'in-city' home.

The New American Home, pictured left, is a completely new home, built to incorporate international style and yet blend in with the surrounding historic homes. The 3-story, "urban loft" home with roof plaza will feature 4,707 sq. ft. of air conditioned living area plus a 576 sq. ft suite above the detached garage. Sales price will be around $3 million.

The Renewed American Home, pictured right, was originally built in 1909. It was moved from its former site then fully renovated and expanded to 5860 sq. ft. of air conditioned living area, not to mention the basement and two-car garage. Though keeping some of its historic charm, the home includes the latest in automated controls from the lighting and zone audio systems to the security and safety systems. It's a marriage of a historical environment and a modern entertainment lifestyle. The home will also sell at around $3 million.

I know you want to see more pictures and get more information about these homes from the International Builder's Show. Just don't get too envious.

-Peter
http://www.nashvillecityhomes.com/
REALTOR. City Home Specialist.

Excited About Skyscrapers.

I’m not sure why it is, but I really like tall buildings. A few years ago I was addicted to a computer game called Sim City. It was the quest to build as many huge buildings a possible. (Hey- who has time for that these days?)

Now I’m getting my thrills watching all the development planned for Nashville. There are several high-rise towers planned for Nashville, but the one I’m most excited about is the Signature Tower.

Tony Giarratana along with Novare Group of Atlanta is developing the structure, which is slated to be 70 stories and over 1,000 feet tall. That’s 400 feet taller than the BellSouth Tower and taller than any buildings in the Southeast including Atlanta’s Bank of America Plaza.

It, along with the host of other projects slated for downtown, are a testament to the growing economy and strong market that Nashville is enjoying, including being rated by Kiplinger's as the #1 smart place to live.

I was fortunate to attend a presentation of the Signature Tower by Tony Giarratana himself. It was exciting to hear about this magnificent structure from a man so passionate about it.

Giarratana explained that the tower would be the “best of the best”, truly a world class building with all the amenities and upscale finishes that you’d expect in a project of this caliber. He expected the construction to be about a 3-year process with occupancy beginning in 2009. Condominiums range from 900 to a massive 7000 square feet with 85% of them being corner units.

Recent news articles report a slight delay, but it plans are still underway to begin construction July 1st.

If you haven’t seen them already, you have to see the renderings of Nashville’s projected skyline. I especially like the one showing the finished Encore building and the new Sounds ballpark.

What will it cost you for a piece of this landmark? The 1 bedroom units start at $423k and the penthouse unit that has over 5000 sq. ft. of terrace in the sky will sell for around $7.5 million! If you’re ready to write that check, please call me right away and I’ll get the paperwork started…

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.