Price of Nashville hotel plot sets mark - $235 per square footBy Getahn Ward - The Tennessean
October 11, 2012
20,000-square-foot tract sells for $4.7M
The $235-per-square-foot price that a hotel developer paid last week for the second parcel that it needs to build a 10-story Hilton Garden Inn hotel was the highest per-square-foot price ever paid for developable land downtown, real estate analysts said.
In some ways, the price Franklin-based Chartwell Hospitality LLC paid reflects growing interest in commercial land and buildings here, including interest from out-of-town investors.
This is getting up to be major city prices now, said Mark Bloom, a Nashville real estate investor familiar with downtown land values. It used to be that $100-a-square-foot was a big number.
Rob Schaedle, Chartwell’s president, said the nearly 20,000-square-foot tract (.46-acres) his company bought from the Wang family for $4.7 million is critical to linking up with Korean Veterans Boulevard. That’s significant because for projects with frontage on that street south of Broadway, there’s virtually no height restriction, he said.
Sale of Iowa Distribution CenterBy Press Release
January 11, 2012
Tower Investments has sold its Fairfield, Iowa Distribution Center. The sale consisted of 210,000 square feet of distribution warehouse space and 25 acres of adjoining land. Tower owned the property for 6 years and had leased the Distribution Center to Books Are Fun, a Division of Readers Digest.
Tower gets victory in convention center caseBy Nate Rau - The Tennessean
December 3, 2011
Project budget at risk as judge agrees Metro underpaid for land
The budget for the new convention center was dealt another blow Friday when a Nashville judge affirmed an earlier jury ruling that said Metro did not pay a fair price for a critical piece of land for the project.
The Metro Development and Housing Agency, which was in charge of acquiring land for the Music City Center, hoped Circuit Court Judge Joe Binkley would reduce a critical July jury verdict in the contentious eminent domain case against development firm Tower Investments. Instead, Binkley agreed with the jury’s verdict that MDHA undervalued the land, which the city condemned and took from Tower to construct the new convention center south of Broadway.
Binkley rejected motions filed by MDHA seeking a new trial or to have the $30.4 million jury verdict reduced.
Tower Investments and Carrell Family sell 4 parcels for $180/square foot in downtown Nashville (site of new Music City Omni Hotel) for $31.7 millionBy Press Release
July 11, 2011
Forbes Lists Nashville As No. 3 Boom TownBy Janet Kim - News Channel 5
July 8, 2011
NASHVILLE, Tenn. - Music City is getting national attention as one of the country's top boom towns. Forbes.com has listed Nashville in their top five.
In order to put together the list, Forbes with the help of a strategy group determined what cities were best positioned to grow and prosper in the coming decade. Nashville came in third.
Forbes looked at the 52 largest metro areas in the country and ranked them based on past and present growth. According to the report, Nashville earned its ranking for low housing prices and pro-business environment. The city has also experienced a rapid growth in educated migrants. The city is also seeing growth in new ethnic groups, such as Latinos and Asians.
Two advantages specifically cited for Nashville and other rising Southern cities area a mild climate and a smaller scale. Music City does not appear to be suffering from transportation bottlenecks reported in older growth hubs.
Among other cities on the list, Austin, Texas is ranked number one. Raleigh, North Carolina is ranked two. San Antonio, Texas and Houston, Texas were numbers four and five. Several of the nation's former boom towns are now toward the bottom of the list. Los Angeles and Chicago are tied for 47th place.
Sale of Northern California Ranch land to two Indian tribesBy Press Release
July 8, 2011
Tower Investments has sold 7,934 acres of its ranch land in Northern California - to two Indian tribes. Tower Investments had owned and operated these ranches for many years.
Yolo County, CA:
Yocha DeHe Wintun Nation: 1,494 acres - added to its ongoing stewardship of its ancestral lands and its culture. The tribe operates diversified farming and ranching operations in Capay Valley, and includes winemaking and olive oil production. The Nation also owns and operates the Cache Creek Casino Resort, the largest private-sector employer in Yolo County.
Colusa County, CA:
Cachil DeHe Band of Wintun Indians: 6,440 acres, adding to its diversified ranching and farming operations. The tribe grows crops that include tree crops, grains and field crops, including 2,800 acres of rice. The tribe’s reservation is the Colusa Rancheria, founded in 1907. The tribe also owns and operates the Colusa Casino Resort.
FONTANEL MANSION and FARM HOUSE RESTAURANT RANKED BEST OF NASHVILLEBy Press Release
October 7, 2010
Nashville Scene Lists New Destination and Eatery in Annual Reader's Poll
(Nashville, Tennessee) -- October 7, 2010 -- After opening to the public exactly four short months ago, the residents of Middle Tennessee have voted the Fontanel Mansion and Farm one of the Top 3 in the category "Best Thing That's Changed in Nashville in the Last Year" in the Nashville Scene's 21st Annual Best of Nashville issue which just hit newsstands. Nashville's newest visitor destination ranked just behind "Volunteer spirit after May flood" and "We are Nashville" in the high-profile readers' poll. In addition the Farm House Restaurant at Fontanel was highlighted in the "Best Culinary Trend: Growing Your Own Food" category in the "Food and Drink 2010: Writer's Picks" in the same issue.
Charity Events held at Stonyford RanchBy Steve Marks
September 1, 2010
Merchants' Overhaul Is Over, and It's Open for Business
July 30, 2010
There's a hip new bistro in town, but it has a long history. It's Merchants, the 22-year-old restaurant in a historic building on Lower Broadway.
The restaurateur brothers Benjamin and Max Goldberg bought Merchants earlier this year, and spent three months on a complete renovation of both the interior and the menu.
The Goldbergs, whose company is called Strategic Hospitality LLC, are known for diverse projects like the chic boite Patterson House and the kitschy, tourist-friendly Paradise Park Trailer Resort.
SONGWRITERS SING FOR NASHVILLE CHRISTENS THE WOODS AT FONTANELBy Press Release
July 20, 2010
Over 20 Songwriters Donate Time and Talent for Flood Relief
(Nashville, Tennessee...) -- July 20, 2010 -- The inaugural event at Nashville's newest music venue, the Woods at Fontanel, was christened by some of the world's most influential and revered songwriters Saturday night during Songwriters Sing for Nashville. Patrons gathered on the beautiful grassy hillside to hear music directly from the men and women who created songs recorded by some of the biggest names in music history.
The day kicked off with Marc Beeson, Jaron Boyer, Chuck Cannon, Danny Flowers, James House, Kendell Marvel, Danny Myrick, James Slater and Lari White performing their hits on the Gibson Tunesmith Stage in the Farm House Restaurant at Fontanel. The music transitioned to The Woods outdoor music venue late in the afternoon, where 12 members of the Nashville Songwriters Hall of Fame delighted the audience with their own renditions of multi-genre hits spanning six decades.
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