Franklin neighborhood coalition pushes for infrastructure improvements

Six neighborhoods on Franklin's west side are pushing for infrastructure initiatives they say haven't been prioritized by the City of Franklin.
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

CHD Meridian of Green Hills, a health care provider to businesses, has agreed to lease a new $10 million, build-to-suit headquarters in Cool Springs, 2 miles from the new Nissan North America office building.
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.

Downtown Gallatin's Streetscape Project

Gallatin's downtown revitalization gets boost
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.

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.

1. 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.
2. 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.
3. 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.
4. 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.
5. 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

Alex S. Palmer & Co. said on Tuesday that it has completed its four-story Gateway II office building in Brentwood.
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.

New Subdivision in the Heart of Franklin

The Henley subdivision is located just off of Highway 96 and Mack Hatcher Parkway, but you may not even realize Henley exists because it is nicely nestled in a beautiful wooded area. This new subdivision is in the ideal location because it is only minutes from Historic downtown Franklin, as well as I-65 and other desired Franklin destinations. Not only is the location ideal, but the homes are absolutely gorgeous and would definitely be a wonderful place for anyone to call home. The Hughes Group is a local builder who has 30 years of experience in the construction industry, and they believe in building homes of the highest quality. Two of the homes built by The Hughes Group are on Deejay Drive. 123 Deejay Drive is very close to being completed, so you are able to walk through and view just how gorgeous the interior of this home is. 121 Deejay Drive is still under construction, so you would still be able to have a say in the "details" of the home if you bought this home. Directions to Henley: You will need to take 96 to Mack Hatcher Parkway, drive South on Mack Hatcher Parkway, and turn right onto Royal Oaks Court by the YMCA. Stay on Royal Oaks Court as it curves around, and you will see the Henley subdivision on your left.
Just another reason to call our office and allow us to show you around town!
Dianne

Williamson County Assoc. of Realtors Announces July 2007 Homes Sales

The Williamson County home market continues to be very active and strong in spite of the national trends that you are hearing about on the daily news. Like any business trends, home indicators rise and fall compared to previous years and all home buyers and sellers are anxious to know how this area of the country measures up to other local and national markets. A key to the Williamson County market is the continued increase in property values. All professionals tracking these trends in Williamson County real estate sales agree that the anticipated future growth is still projected to be very postive. Good news for buyers and sellers!
Call us with your real estate needs . . .Dianne

Williamson County Association of Realtors® Announces July 2007 Home Sales

July 8, 2007 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of July. There were 472 residential and condominium closings reported for the month, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.
Compared to July of 2006, the residential home closings decreased 16 percent. While the median prices for residential homes increased by 3 percent. Days on the market (DOM) for residential homes increased by 20 days or 43 percent as compared to July 2006. Condominium closings decreased by 3 percent (1 unit). The median prices for condominiums increased by 16 percent and days on the market also increased by 50 percent (26 days) compared to July 2006.
July 2007

Closings
Median Price
Average Price
DOM
Residential
437
$ 384,900
$ 449,994
66
Condominium
35
$ 215,000
$ 229,134
76
July 2006

Closings
Median Price
Average Price
DOM
Residential
518
$ 373,353
$ 419,341
46
Condominium
36
$ 185,000
$ 215,615
50
July 2005

Closings
Median Price
Average Price
DOM
Residential
541
$ 317,000
$ 367,786
54
Condominium
45
$ 158,900
$ 153,825
31
Although closings have decreased compared to 2006's record-breaking year, Williamson County's real estate market is still active. For 2007 to date the days on the market for single family homes has ranged between 61-67 days. Although closings have decreased, the inventory of homes is still being turned around in a consistent time frame since the beginning of the year. The median prices for homes continues to increase, although not as significantly as the previous two years, allowing the market to normalize at market-driven prices. The median home price on average for the South as reported by the National Association of REALTORS states that .7% increases are being experienced from last year to this year.

Franklin Brownstones are beginning to have residents

Many of our clients and most of the citizens of Franklin have been following the construction of the Franklin Brownstones for the past couple of years, it's been a slow process but the 26 unique townhomes will truly change the looks of Downtown Franklin. Dianne



FRANKLIN — It took time to build one of the wonders of the world, the pyramids of Egypt. Developer Bernie Butler laughs when he likens his latest residential project to the same pace.

"I told somebody the other day, I think they built the pyramids faster than we've built the Brownstones. But then again, we are taking a long time to build something that is going to be around, in a historic area, for a very long time."

The development, 26 townhomes that begin pricing at $1.5 million, was started in December 2004.

"We have homebuyers moving in slowly now. We should have two residents moving in about every two to three months over the next
12 months. So everyone will be moved in by next summer."

Butler says only one completed condo and four unbuilt units remain for sale.

"We own the land on First Avenue. It looks like a gravel parking lot right now, but in the next 30 to 60 days we will start on the final four units. After that, no more Brownstones."

Buyers excite builder

Butler says when he started the project, the buildings were the most exciting thing he could think of.

"These were unlike anything built in historic Franklin. And I still am in awe of the way they turned out. But I am even more excited about the people who are moving in them."

Butler says the price tag on each townhome, at $325 a square foot, brought in homebuyers who "could choose to live anywhere."

"These are all dynamic, bright people. Many have homes in other parts of the country. And yet, they choose to live in downtown Franklin. It is a big compliment to our community. And our community is going to benefit from having these folks move here. They are the kind of people who will make a difference, contribute."

Butler says he feels a little like the Hello, Dolly! matchmaker Dolly Levi.

"I know everybody that is going to call the Brownstones home. They don't know each other yet, but they are going to be the first to live in a community like this in downtown Franklin. They are going to be neighbors, have relationships."

Planning was lengthy

The finished Brownstone condominium is "everything you would expect for something with this price tag," according to Butler.

"We literally spent hundreds of hours planning. We asked, if you lived here, how would you bring in groceries, get the mail, how would this function in the best manner? In fact, we fought all the way to Washington with the U.S. Postal Service. They wanted us to put apartment-style mail boxes in the back of the Brownstones. We wanted the mail delivered to the door of every home. This is an historic area. We finally won," says Butler.

The Brownstones also feature an elevator in every unit and features that allow the homeowner to virtually flip a switch for almost anything.

"You have a camera in the master suite that shows who is knocking at the front door. Panels are placed in key locations throughout the units so that lights can be turned on and off, doors locked. And every single upgrade you can imagine is in these homes."

Butler says he feels like a painter who is almost finished with a work of art.

"I know they look great, but we still have four units and the courtyard to complete. I wish I could put a white sheet over it and when it is done, whip it off. The finished product will be even better."

Construction on the courtyard will begin in about 60 days, says Butler.

"If you are standing on Church, you are going to see a bronze, three-tiered fountain. When we were preparing the site, we found a hand-dug well. So we hand dug every stone out of the well and saved them. They are going to be the base for the fountain. Cranes are bringing in 35-foot-tall red oaks to surround it," Butler says.

With the project winding down, is Butler sad to see it end?

"No, I am excited. About everybody moving in. About it looking the way it is supposed to look. Building the Brownstones was like the biggest, hardest puzzle you ever
laid out on your dining room table. It is so cool when it is finished."

Pending Home Sales UP in the South

Pending home sales in June increased from the previous month in all four major regions, according to the National Association of REALTORS' (NAR) Pending Home Sales Index (PHSI).

The 5 percent monthly gain is the largest since March 2004's
6.1 percent increase.
* The PHSI in the West increased 8.6 percent to 103.6 but was
5.5 percent below June 2006.
* The PHSI in the Northeast increased 3.1 percent to 96.0 but is 2.4 percent below June 2006.
* The PHSI in the South increased 4.7 percent to 111.6 but was
12.7 percent below June 2006.
* The PHSI in the Midwest increased 3.5 percent to 92.5 but was 8.2 percent below June 2006.

"However, it is too early to say if home sales have already passed bottom," said Lawrence Yun, NAR senior economist. "Still, major declines in home sales are likely to have occurred already, and further declines, if any, are likely to be modest given the accumulating pent-up demand."

[SOURCES: NAR; Texas Real Estate Research Center]

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