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Nashville Condo Group - Blog
"The Nations has been found," said Wood Caldwell, a principal at Southeast Venture.
"The neighborhood association is very organized ... and they're saying they want 51st (Avenue North) to become another 12South.
People are excited we're changing industrial back to residential."
The Southeast Venture
development would be three blocks over from 51st Avenue North, at 5400 Centennial Blvd. Southeast Venture is developing the 36-acre site on behalf of its client, a partnership that operates under the name R Manuel - Centennial.
declined to discuss who's involved in the group, which paid $6 million for the land in mid-2015.
said it was too early to estimate a total budget for the development.
Full financing has not yet been obtained.
The land is bordered on the east by giant tanks of petroleum for two companies, stations where tanker-trucks fill up and then deliver that fuel to gas stations.
The easternmost part of the site will be undeveloped and act as a buffer from those operations, Caldwell
That piece of property also contains a landmark 200-foot former grain silo, which will be preserved, Caldwell
"It's like a beacon everybody uses for The Nations, which is pretty cool.
To be frank, that's what first attracted our buyer; they saw that and said it's the coolest thing ever," Caldwell
The properties are split by a CSX railroad spur that continues on and crosses Charlotte Avenue, where developer H.G. Hill Realty Co. is under construction on a mixed-use development.
said access rights already exist, so no negotiations are needed with the railroad.
also said the spur is used just four times a day, with a limited number of rail cars each time.
Arguably the most prominent potential selling point is the 1,200 feet of riverfront views, with the property sitting on a bluff 70 feet above the Cumberland River, Caldwell
The site is about six miles from the center of downtown, on the other side of Interstate 40 from Charlotte Avenue (which is experiencing its own rebirth) and also Sylvan Park, one of Nashville's more popular urban neighborhoods.
Between the river and the railroad tracks, Southeast Venture
is seeking a zoning change from Metro that would allow up to 300 multifamily units and about 100 single-family homes, Caldwell
The buildings will be three stories.
Most of those multifamily units likely will be apartments, though units facing the river may be sold as condos, Caldwell
The Metro Planning Commission
is scheduled to vote on the requested zoning change next month, which would then trigger a six-week vetting by Metro Council
The change needs council approval to become official.
Metro already approved a zoning change for the piece of land between the railroad tracks and Centennial Boulevard.
On that site, where construction could start this fall, Caldwell
said plans call for 180 multifamily units with ground-floor retail.
Future development on the site is expected to eventually bring the total numbers of units in the development beyond 600.
Average rent for the apartments will be about $1.80 per square foot, Caldwell
Faculty & Staff | Liberty Collegiate Academy
Wood Caldwell, Principal, Southeast Venture
But negotiations for Liberty ...
But negotiations for Liberty to buy the building weren't ever put in writing, and Liberty's board didn't have an appraisal in hand when those happened, board member Wood Caldwell, a principal with Southeast Venture, said in a statement.
group wanted a 25-year lease that would have paid Hobson
$130,000 up front, put $130,000 annual lease payments into building repairs for 15 years, and then paid the congregation $130,000 annually for the final 10 years.
The church's appeal, Caldwell
said, was its size and history of public service.
Its budget this school year is $2.1 million, Caldwell
"We have confidence in our design ...
"We have confidence in our design team to create something that will complement the existing structures," said Wood Caldwell, principal at Southeast Venture.
says the developers already have held multiple meetings with a neighborhood association, community stakeholders and the council members who represent the districts that straddle 12th Avenue South.
said the developers will continue to inform the community on the progress of the project and are planning a community presentation once the designs are farther along.
Wood S. Caldwell, age ...
Wood S. Caldwell, age 51.Mr. Caldwell is responsible for all site development activities on behalf of commercial and health care clients of SVLLC, including managing all design consultants, permitting, scheduling, budgeting and construction management.He contributes to SVLLC's development team in the areas of land planning, zoning, permitting, engineering and construction.Before joining SVC in 1985, Mr. Caldwell served as a professional engineer for Gresham, Smith and Partners.As the prime site design engineer for Gresham, Smith and Partners, Mr. Caldwell produced and coordinated site development plans for over 50 separate medical facilities in over 40 different communities throughout the southeast.Mr. Caldwell earned his bachelor of engineering degree from the Vanderbilt University School of Engineering. Axson E. West, age 50.Mr. West serves as vice president of brokerage services for SVLLC, specializing in office and industrial leasing, improved property sales and land disposition for several commercial and residential projects.Mr. West has sold real estate and real estate securities since 1980 and, since joining SVC in 1988, he has been responsible for the disposition of land encompassing industrial, office and retail developments.He received his Bachelor of Arts degree from Vanderbilt University and is a Certified Commercial Investment Member, a designation of the Commercial Investment Real Estate Institute.