Explain the Cranes in Nashville, TN
One of the things I like most about being a Village agent is that I’m never left to guesswork. Recently I enjoyed an “Explain the Cranes Tour” sponsored by Village. About once a quarter, Village charters a bus and invites agents to join the experts and learn new neighborhoods, particular areas of town or like this month, a downtown economic development tour.
Our special guest on this week’s tour was Jeff Hite, Vice President of Business Recruitment in Nashville. There are 28 cranes spread across the Nashville skyline at present. Nashville is 2nd in the nation for job growth and has a pipeline of companies looking to relocate in the Middle Tennessee 10-county area with 92 companies looking specifically at Nashville. We’re talking job creation here folks, and this is what is drawing so many new people to the Music City.
Not only are folks relocating their lives to Nashville, but companies and industry groups are choosing Nashville for business meetings, visitors come for fun vacations, and the colleges and universities located in Nashville continue to increase enrollment. Nashville currently has 5400 hotel rooms with 2500 more under construction and 1500 additional in the development stages.
Mass transit, as you know, is a hot topic. How can Nashville improve on getting all of these people around the city in an efficient way? We look to Denver as a shining example of how to quickly build out a mass transit system in 10 years versus the typical 30 year time frame. This transportation subject is important as Rutherford County is expected to be the same size as Davidson County by the year 2040.
You’ve heard the numbers before … 70 people moving to Nashville area every day! 2% annual population growth! People love the idea of an affordable city in the central time zone with jobs at top employers like Vanderbilt University, HCA, St. Thomas, Bridgestone, Nissan, and United Healthcare to name a few.
So what’s going up with all these cranes … here’s a sampling
505 Residential on Church Street – 45 story tower with 550 apartments (Giarratana Development Nashville)
Capitol View – HCA, Lifeway, residential, hotels and hopefully a grocery store (Boyle Investment Co.)
Fifth + Broadway - just broke ground with office, apartment, retail/restaurants/entertainment along with the National Museum of African American Music
Sobro – 32 story apartment tower (Giarrantana Development (Nashville)
City Lights – 71 luxury condos with restaurant (Meeks + Partners (Houston)
River North – proposed so no cranes yet; redevelopment of 105 acres on Cumberland River’s east bank – (Monroe Investment Partners Chicago)
4000 Hillsboro – 17 story apartment tower with office, retail and restaurant in Green Hills (Southern Land)
oneC1TY – office, apartments, condos, retail, hotel at Charlotte and 31st Ave (Cambridge Holdings Dallas)
JW Marriott – Eighth at Demonbreun; 533 rooms
Bridgestone – 30 story tower to house Bridgestone’s US headquarters with 506,000 square feet of office with ground floor retail (Highwoods Properties Raleigh, NC)
Top Golf – high tech driving range with music venue, 306 Cowan St
Tennessee State Museum – 140,000 sf, 900 Rosa L Parks Blvd near downtown Farmers Market
Want to get your own Crane Watch on? Check in with the Nashville Business Journal Crane Watch website, click http://www.bizjournals.com/nashville/datacenter/crane-watch.html
Virginia is a Realtor in Nashville, Tennessee. Call the Nashville expert for buying or selling your home ... (615) 618-9966