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Investing in Downtown Nashville
From 2000 forward, public-private investments in downtown Nashville add up to $1.15 billion. Projects on the drawing board in 2005 could double that investment.
Between 2001 and 2008, public investments downtown are projected to be more than $531.3 million. These include the Downtown Public Library, bridges (Shelby Street Pedestrian Bridge, Gateway Bridge, and Demonbruen Street Viaduct), street improvements, renovation and construction of government buildings, creation of a Public Square and a parking facility, a regional commuter rail system, and a central transit station.
The Downtown Public Library--- an $83 million investment which opened in 2001--- has spurred development on Church Street, with over 700 residential units available on Church by 2006, major street improvements in 2005, and a
$106 million Federal Courthouse in the design stage.
Scheduled to open in 2006, the 1,900-seat Schermerhorn Symphony Center--- a $120 million investment--- is an acoustical and design masterpiece occupying a full city block. This world class facility is already a catalyst for mixed use, dining and residential development in the SoBro (south of Broadway) area.
The rest of the nation is now recognizing a fact that Nashvillians have known for some time: Music City is a grand place to call home. Expansion Management magazine affirmed this sentiment in an impressive way when it named Nashville No. 1 in its 2005 ranking of America's 50 Hottest Cities for Relocating and Expansions.
With over 2,000 residents in downtown, apartment occupancy is 95%---consistently the highest in Nashville. Almost 70%of the purchase opportunities under development are sold in advance.
Between 2002 and the end of 2005, 275 new residential units will be added to the downtown housing inventory, and another 493 by the end of 2006---bringing over 1,000 new downtown residents.
Of the more than 700 downtown residential units under construction, taking reservations or being planned, 76% are purchase opportunities.
With increasing attention to the downtown riverfront, two major mixed-use developments including substantial residential components are in the planning staged---Rolling Mill Hill and the former Thermal site (with a proposed AAA baseball park, adjacent residential and retail space).
Residential Investment Opportunities
With at least 750 additional downtown residents by the end of 2006, the downtown population is expected to be about 6,000 by the end of 2007. Investors, residents and patrons will have higher expectations with this increased density and will push for a ³24 hour downtown.² Attracting retail to serve the residential and business communities will be much more feasible.
Here is a look at just some downtown lofts and condo units available
Under Construction
- 320 Broadway
- Church Street Lofts
- Lofts at 160
- The Kress
- The Lofts at the Exchange
- The Lofts at Werthan Mills
Taking Reservations
- Ambrose Lofts
- Harrison Lofts
- Phoenix Lofts
Conversion to Condos
- Bennie Dillon
- The Cumberland
Lake view and lake front properties
Center Hill Lake is owned and managed by the federal government through the U.S. Army Corps of Engineers. The 64 mile long reservoir boasts 415 miles of mostly undeveloped shoreline, and 18,200 acres of deep, pure water for many species of fish. Center Hill dam is located on the Caney Fork River. The area's temperate climate allows for a long season of recreational opportunities, including boating, fishing, water sports, hiking and picnicking. There are three gorgeous water falls, one state park, several marinas, restaurants, and Corps recreation areas, as well as the Joe L. Evans Appalachian center for crafts on the lake . Center Hill is also home to more than 200 fishing tournaments annually as well as areas for hunting and wild life observation.
Blue Water Estate Lots (Center Hill Lake)
Price ranging from $60,000 -- $200,000
These are just a few investment opportunities of many that The Barbera Team can help you with. Please contact us with any questions that you may have on investment opportunities in the state of Tennessee
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