metro approves new 11-story gulch hotel

i will try to save you my “i remember when” story of the gulch but it is fascinating to see how quickly it has gone from being an old train yard to one of the only LEED certified green neighborhoods in the country and the only one in the south when it was certified in 2009.

almost 10 years later, the neighborhood has flourished with office space, retail, residential and a thriving restaurant scene. this week, metro approved plans for a new 11-story boutique hotel on 11th avenue south across from kayne prime steakhouse. the developer is coincidentally chris hyndman, the founder and ceo of m street whose portfolio include kayne prime and a host of other neighboring restaurants nearby (saint anejo, virago, moto, whiskey kitchen and tavern).

currently a surface parking at the intersection of mcgavock and 11th avenue south, the 112-room eleventh house will feature a pub, upscale restaurant, juice bar, rooftop bar + grill with city views and a 7,000 square foot luxury spa. amenities will also include a 32,000 square foot fitness facility and a rooftop pool and lounge. the hotel is being designed by hastings architecture.

hyndman is shooting for a fall groundbreaking with completion summer 2020.

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three upcoming affordable condo developments

in the ever-changing urban core landscape, the convenience, the location, the land is all coming more and more at a premium. sure, everyone would love to walk to work or bike somewhere on the weekends but that is becoming a luxury. affordability is harder to find. fortunately, though, if you’re searching for a condo, there are three new options in emerging neighborhoods that might fit the bill.

1-silo bend

it will sit in the shadow of a 200-foot tall grain silo and at the bend of the cumberland river on the west side of town; hence, they got creative and named it silo bend.  due for completion in summer 2019 and officially being rolled out for pre-sale in april, prices for a one bedroom start around $175,000 and for 2 bedrooms, in the mid $200s. the 103-unit, 3-story community will include a pool + fitness center and only a stone’s throw from the chic new frothy monkey coffeehouse in the nations. that should check a few boxes right off the bat. |5500 centennial blvd

2-boomerang

you do not have to go too far for the next contender: boomerang which will consist of two new, three-story buildings and sits across the street from silo bend in the nations. the larger of the two (which will be triangle-shaped) will include 8 condos (starting in the mid $200s) on the second and third floors with the ground floor offering street retail space. a late summer groundbreaking is the current game plan. | 5403 centennial blvd

3-segment

segment, the newest development in wedgewood-houston, will be 26 flats and 8 townhomes on the corner of pillow and merritt. no amenities but prices start at $239k. with the potential new mls soccer stadium being built there, the former baseball stadium being torn down to make way for a huge green space/park, and a slew of new coffee shops and restaurants in the works, wedgewood-houston, or “weho”, is emerging as one of the hottest new neighborhoods in the urban core.

an innovative 3d dining experience comes to nashville for a limited run

it’s no secret anymore the visibility of nashville’s food scene has been raised. in recent months, the city has been included in top culinary lists from the likes of usa today, zagat,  travel + leisure,  and garden & gun.

this weekend, nashvillians will be the first in the US to experience an interactive pop-up dining concept at the standard. through a 6-course menu, dinner time stories: in the footsteps of marco polo, featuring le petit chef takes you on a unique journey with a tiny animated chef through france, arabia, india, the himalayan mountains and lastly, china, using 3d projections onto your table in front of you. patrons follow the 4-inch french chef through a two-hour, fully choreographed dining experience that explores the route of marco polo.

“we are thrilled to bring this cutting-edge dining experience to the US and debut the first show series in nashville, with las vegas, new york and los angeles on the immediate horizon for 2018,” said david fischette, president, CEO + chief creative of go west creative group.

originally created in brussels, the show will run at the historic standard downtown for six weeks beginning this weekend through march 17th. there will be one show on wednesdays and thursdays at 6:30pm and two shows on fridays and saturdays at 6 and 8:30pm. make reservations early here. tickets are $162.50 per person. | 167 rosa parks blvd

 

5 things to know about the new short term rental policy

it’s been a long, heated battle for months but this week, metro council voted 25-5 to phase out short-term rentals that are not occupied by homeowners in residential-zoned neighborhoods.  here are five things you need to know about the decision:

1-this was the third and final vote.

2-owner-occupied short-term rental properties will not be affected as long as the property is not owned under an LLC or in a trust. meaning, if you live at the property as your primary residence and it’s in a person’s name, you can continue to use it as a short term rental with the proper permit.

3-this will also not affect multi-family homes or high rises that are zoned for commercial/mixed uses. most condo high rises around the city have added rules in the last 3 years prohibiting short-term renters and fines have become steeper from the homeowner’s associations if you are caught. do your homework if this is an option you are considering for an investment property you own.

4-the investor-owned short-term rental agreements will be phased out over the next almost 3 years. owners can continue to renew their permits and operate their rentals until june 28, 2020.

5-randomly, it may not be over with this week’s vote. there is a current bill in the state legislature that would actually ban the type of ban metro council approved last night. it has already been approved by the house and just needs to be approved by the senate. no word yet on what happens to that.

2017 record-breaking year for middle tennessee home sales

folks waiting for the housing market to cool down before buying here will be waiting a little longer. nashville closed 40,482 home sales in 2017, up 3.9% from 2016 but also breaking the record of 40,056 set in 2006, according to the greater nashville realtors® data. the median price last year for a single family home was $294,000 and for a condominium was $209,450, up considerably from 2016’s $266,408 and $180,000.

inventory of homes for sale also remains lower than previous years. the number of homes for sale at the end of 2013 was 13,580. that number has dwindled considerably in the past five years, falling to 9,011 at the end of 2017.

average days on the market for december was 30.