the changing landscape of music row property

recently, a friend of mine accepted a position at a major record label in town.  to his surprise, his future boss told him he might have to bring his own desk for his new office.  the business is evolving.  the music row streets where chet atkins & roy acuff once roamed are becoming quite a different place today.  the nashville boom after the recession has investors snatching up land all over the city.   with the decline in music sales and as record labels continue to rework a defunct system, developers are seeing the value in recreating music row into what could become a more defined midtown landscape and less of a music row.

one of this summer’s hot topics was saving the rich history of the rca building a on 17th avenue.  unless someone steps up who is willing to preserve it this week for a mere $5.1 million, tenants will need to vacate by december 1.  the owner stated the building was no longer profitable at the current rents with major structural, electrical and plumbing updates necessary to continue operation. that, combined with the building lacking any architectural significance, demolition is probably looming to make way for something new and shinier.  the owner currently hopes to break ground in spring 2015 on a five-story mixed use building with 80 upscale residential condos that will include 2,000 square feet of restaurant space on the street level.

30 music square west
30 music square west

nashville resident/rca building a tenant & pop singer ben folds was very public about his disdain over the sale of the building.  in a fierce, public “he said/he said” this summer, harold bradley, one of the longtime owners of the rca building/legendary session guitarist & country music hall of famer, broke his silence in a letter in the nashville scene stating “the architecture of the nashville sound was never of brick and mortar.”

the atisan on 18th
the atisan on 18th

he probably has a valid point.  the little building that once housed porter wagoners’ old studio was recently torn down to make way for stonehenge real estate group’s artisan on 18th, a 6-story, 153-unit apartment development at 819 18th avenue south. tenants begin moving in this fall.

across the alley from artisan, lennar multifamily is throwing its hat in the ring in late summer 2015. if all gets approved, m residences, a 19-story 300-unit, mixed-use apartment building will rise on 19th avenue south.  the street level will offer retail space on 19th and a 4,000 square foot restaurant space on the corner of 19th and chet atkins.

m residence
m residence

a block up from rca building a, billionaire entrepreneur richard branson’s virgin hotels announced plans earlier this year to build the company’s third US hotel here in nashville (the others being in new york & los angeles).  the 240-room hotel will sit on an acre lot across from the ASCAP building on the corner of 17th avenue & division street.  they are shooting for a mid-2016 opening date.

skyhouse, a new 25-story, 352-unit luxury apartment high rise, is proposed to be located on the corner of broadway and 17th avenue. the building will also include more than 10,600-square-feet of ground level retail and a 25th floor clubhouse, fitness center, pool and an outdoor plaza boasting 360-degree views of the city.

novare group & batson-cook development's skyhouse
novare group & batson-cook development’s skyhouse

dallas-based developer phoenix property group plans a 194-unit, six-story apartment building on the corner of 16th avenue south and mcgavock street.  the building will be called cadence and is aiming for an early 2016 opening date.

nashville will always be known for music, even more diverse now than ever before.  how we make music and where we make it however, may be changing. and change tends to be inevitable for growth.

the cadence
the cadence

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