News, interests, info and tips about the Real Estate Market in Middle Tennessee. Our Focus is the Nashville area, both Williamson and Davidson County and the surrounding areas of Franklin, Brentwood, Spring Hill, Thompson's Station, Hendersonville, Leipers Fork, Belle Meade, Nolensville, the Cool Springs area and the Vanderbilt area
September 28, 2007
Franklin neighborhood coalition pushes for infrastructure improvements
The group will host a mayoral and alderman debate at 6 p.m. tonight at Westhaven's Residents' Club, 111 Westhaven Blvd.
The West Side Coalition want a few projects expedited, including Mack Hatcher's extension and the widening of Hillsboro road at strategic locations.
The event will begin at 6 p.m., with the aldermen candidates speaking from 6:30 to 7:30 p.m., and the mayoral debate from 7:30 to 8:30 p.m. The final half hour will give attendees an opportunity to ask questions one-on-one with the candidates.
Members of the Coalition include Founders Pointe, Franklin Green, Spencer Hall, Willow Springs, Chestnut Bend and Westhaven.
Cool Springs to be the new home of CHD Health Care
First Industrial Realty Trust Inc. of Chicago will build the two-story, 50,000-square-foot building, and lease it to CHD Meridian (AMEX: DMX) through an 11-year agreement, according to the company's real estate officials.
CHD Meridian, a subsidiary of I-Trax Inc. of Pennsylvania, offers on-site health care for corporate clients. The location in Cool Springs, a magnet for large corporate headquarters, seems ideal for the health care provider, observers say.
The CHD Meridian building will be located at Creekstone Boulevard south of South Royal Oaks Boulevard.
The Franklin location is half a mile south of Murfreesboro Road, and west of Interstate 65.
"It gives them a good central location for their employee base with good access to interstates," says David McRae, principal of Newmark Knight Frank of Nashville, who represented CHD Meridian.
McRae says he and fellow NKF principal David Koziak saw few openings for such space and land in Green Hills.
"We considered all areas of town," says McRae.
As for proximity to Nissan and other large offices and headquarters, McRae says it wasn't a requirement of CHD Meridian "but it certainly was a plus."
Whit McCrary, office division leader for Colliers Turley Martin Tucker, says a scarcity of land probably convinced CHD Meridian to look past Green Hills and even downtown.
September 26, 2007
Downtown Gallatin's Streetscape Project
Nashville Business Journal
The city of Gallatin has been awarded a $810,509 enhancement grant from the Tennessee Department of Transportation for the second phase of the downtown Gallatin streetscape project.
The federal portion of the grant is $648,407 and the city's matching commitment is $162,102.
TDOT previously awarded the city a $247,500 grant for the first phase of the project, which brings the total for both phases to about $1.1 million.
Gallatin Mayor Joanne Graves says the award will help the renewal of Gallatin's core downtown and "lead to greater investment, viability and economic growth in the Gallatin community."
TDOT approved 35 of these grants statewide worth more than $12.1 million.
September 25, 2007
Truths about Today's Condos
Being a buyer in a market like the greater Nashville area where there is a significant amount of both new-build and conversion condominium developments means there is an array of community styles, locations, floor plans, amenities and upgrades available for a variety of lifestyles. With so many lifestyle options, buyers may find this makes selecting their dream home easier, while others face a slew of headaches deciphering how competitive properties compare.
As many of these communities begin to market and open for sales in the early stages of construction, buyers are being prompted to make buying decisions based on a brochure of renderings and feature sheets, rather than touring the actual residence, walking the floor plan and seeing the finishes first hand. So before you begin your search to see what community is best for you, here's a few insider tips can save you time and money and allow for a smoother transaction.
- The Truth About Touring the Models & Browsing Web Sites. Considering working with a Realtor? You must be accompanied by a Realtor the very first time you register at the property and provide them with any personal information, otherwise you forfeit your right to representation. The same is true when browsing and requesting information on properties online, some web sites do ask if you are working with a Realtor and others do not, which can also impact your ability to have Realtor representation when purchasing.
- Read The Disclaimers . Many condominium developments create marketing materials and renderings before a project is under construction, so if you fall in love with a design element shown in a brochure rendering, read the fine print and understand that many elements of a community can be subject to change. Don't be afraid to ask in-depth questions about the final product. Consulting a Realtor can help determine what questions you should be asking and a Realtor can be a great sounding board.
- What's The Real Price? Many condominiums advertise a starting price point, but to get the upgrades and amenities that best fit your lifestyle, the price may grow substantially. Consulting a Realtor experienced in condominium buying can help you understand the price point package offered by each community and what your budget will realistically buy you.
- Know The Timeframes. Most condominium developments can only begin construction when a designated number of residences have been sold. This means your home can be move-in ready much sooner or later than you anticipated. It is important that if you are working with a Realtor, they stay on top of this timeframe to coordinate the sale of your existing home and provide a smooth transition into your new home.
- The Final Product. If a development is not complete yet, it can be difficult to envision the view each residence will have and how livable a floor plan really is. A Realtor can give you valuable insight on how your new home will actually turn out.
Being a well-educated buyer and understanding that purchasing a condominium under development can require some flexibility can make for a flawless shopping experience with no surprises. Consulting a Realtor as a means to better understand competitive products and navigate the details of a purchase contract. A Realtor can also take the time to get know your lifestyle and needs to make sure the community where you purchase is right for you.
Keller Williams-Brentwood moves their office to the new Gateway II
Gateway II is located on what is generally considered one of the last workable parcels of land in Brentwood's Maryland Farms, Palmer officials said.
Tenants have begun moving into the 117,000 square feet of class-A office space in Gateway II.
The building, which Palmer & Co. developed speculatively without any signed leases, is approximately 80 percent leased, company officials said.
Gateway II will be home to Robins & Morton Group, CITI Global, Wolcott Squared, Keller Williams Realty and several departments of LifePoint Hospitals Inc. The building is located at the intersection of Granny White and Maryland Way near one of the main entrances into the Maryland Farms office park.
Cooper Carry Architects designed the building and The Parent Co. provided general contractor services.
Alex S. Palmer & Co., based in Nashville, provides in-house property management, leasing, tenant representation, construction management, tax, design, and financial services to clients.