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Old July 19th, 2013, 02:21 AM   #1
desertpunk
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NASHVILLE | SoBro | 105m | 345ft | 32 fl | Prep



Earlier design on left.

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Quote:
Originally Posted by MIRYDI View Post
Finally!!!!!!!!

Quote:

Giarratana, partners seal deal to pursue 32-story SoBro tower



Courtesy of Tony Giarratana

http://www.tennessean.com/article/20...ry-SoBro-tower


Developer Tony Giarratana has transferred a pair of properties for $7.1 million to a joint venture that plans an apartment tower that would become one of Nashville’s tallest buildings.

The 32-story tower called SoBro will include more than 300 apartments, nearly 20,000 square feet of restaurant and retail space and more than 500 parking spaces. The project’s developer, WMG Realty Holding Co. LLC, is a joint venture of Giarratana’s SoBro Development Co., Wanxiang America Real Estate Group and Magellan Development Group of Chicago.

“Together with Magellan Development and Wanxiang America Real Estate Group, SoBro will be the first of our ‘next generation’ of residential towers that will significantly raise the bar for urban living in Nashville,” Giarratana said, adding that he and other partners have previously developed more than 1,100 residential units in Nashville, including condos.

The total development budget will be roughly $88 million, Giarratana said, citing hopes to begin the construction by year-end. However, a firm start date has not yet been determined.

The transfer of ownership from SoBro Development to WMG Realty is a key part of a financing package real estate services firm Jones Lang LaSalle is putting together, he added. The remaining equity and debt financing required will be finalized in the coming months.

Premier Parking of Tennessee LLC, which Giarratana owns, currently operates parking lots on the properties at 205 Second Ave. S. and 202 Third Ave. S. where the apartment tower will be built south of Broadway. The height of SoBro will be between that of the existing Pinnacle at Symphony Place office building and Encore condominium tower, Giarratana said.

Chicago-based Loewenberg Architects designed the SoBro tower. Co-developer Wanxiang America Real Estate Group is the real estate investment arm of Wanxiang America Corp., a unit of Wanxiang Group, China’s largest automotive component company by revenues. Co-developer Magellan is one of Chicago’s largest real estate and property development companies.

In 2008, Giarratana and his longtime development partner Bill Wardrop, with whom he developed The Cumberland apartments in 1996 and several other projects, purchased the 32,000-square-foot site at the corner of Second Avenue and Demonbreun for $5 million. A loan Ridgefield Properties made to help fund the purchase by SoBro Development was paid off Tuesday with equity invested by the three partners in WMG Realty Holding Co.

Giarratana had been pursuing development of the SoBro site for five years and previously released a rendering of the proposed project. Besides The Cumberland, his other residential projects include Viridian, Bennie-Dillon, Encore, Belle Meade Court and The Marquee at Belle Meade Town Center. Earlier this year, Giarratana paid $1.8 million for two parcels at Elliston Place and 21st Avenue in Nashville’s Midtown. He and Chicago-based LaSalle Investment Management plan apartments on the site.

SoBro will add to a growing field of apartment projects near downtown, with one previous estimate putting units in the development pipeline around Nashville at more than 10,000. Giarratana, however, sees a market still far from oversaturation or being overbuilt. “Urban residential in Nashville is still in its infancy,” he said. “We’re just scratching the surface.”
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Old July 19th, 2013, 03:04 AM   #2
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My city is AWESOME!

I prefer the earlier design but a highrise is a highrise!
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Old September 28th, 2014, 03:15 PM   #3
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7/02/2014

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Originally Posted by MIRYDI View Post
The latest article with Tony Giarratana say's he will be breaking ground later this month on the SoBro. Guess we will see what happens.

Tony Giarratana moving on after hotel deal dies
http://www.tennessean.com/story/mone...dies/12054193/
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Old September 28th, 2014, 03:16 PM   #4
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7/22

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Originally Posted by ariesjow View Post
This one is ready to go and will start as soon as the permits are obtained. Here's the latest from the Tennessean along with an updated rendering:

http://www.tennessean.com/story/mone...ower/12999021/

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Originally Posted by MIRYDI View Post
Another rendering of the backside. Building permits within 10 days!...

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Old September 28th, 2014, 03:18 PM   #5
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7/30

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The site is being is being secured with fencing as we speak. I can't wait for this bad boy to start rising!

On-site work begins on SoBro
https://www.nashvillepost.com/blogs/...egins_on_sobro
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I just got out of the office to run a couple errands and stopped by the site to snap a few quick pics with my phone.



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Old September 28th, 2014, 03:21 PM   #6
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8/21

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Blasting is happening on site today. Also, a poster on UP posted up a few pics of the progress so far.

http://api.viglink.com/api/click?for...r%2Fp%2Foy7kqJ





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Old September 28th, 2014, 03:21 PM   #7
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9/10

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These are the most recent pics I've seen posted Sept 08. According to Ron over on UP the hole is about 20' deep and they are done digging. All parking is above ground so they didn't need to go very deep. Also reported was that holes were being dug for caissons and it looks like this is already close to going vertical.





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