Exceptional one of a kind Estate, Designed by Mark Harrison of Adkisson/Harrison built by Will Andrews, interior design by Mary Spalding. Marbles, Stones & Woods from around the world make this a Phenomenal home. Featured on ABC’s Hit new Show NASHVILLE.
Listed with Fridrich & Clark Realty
Have you ever driven down West End and wondered if that massive hole at the West End, 21st Ave, Broadway junction was ever going to turn into that beautifully rendered building that was pasted all over the barrier fences?
If so then you will be pleased to know that Thursday morning HCA Holdings announced that they are expanding and they have decided to take up residence in the two 20 story towers that will make up the West End Summit.
HCA’s two business that are moving in are Parallon Business Solutions and Sarah Cannon Research Institute will take residence after the $200 million projected, which is slated to begin in early 2013, is completed.
“…big statement about the health of Nashville,” – Mayor Karl Dean
Both companies will occupy about 55% of the available office space on a 15 year lease. Nashville Mayor Karl Dean called the effect of this morning’s news a “huge investment in our midtown and downtown” that is “going to transform the area.” He also went on to say that this announcement is a, “big statement about the health of Nashville.”
No doubt this announcement is thrilling news for Nashville and Midtown residents in particular who have named the crater off of West End, Lake Palmer (after the developer who started digging the existing foundation before putting the project on an indefinite hold in the early 2000’s). But more than just the overall satisfaction of adding another two buildings that will help define the urban Nashville skyline there are several very real benefits that will be realized by the development of these class A commercial towers.
- 2,000 new jobs added (1,000 initially and an additional 1,000 by 2017)
- Increased need for supporting restaurant and retail development
- Increased property value in the midtown area
As Nevin Batiwalla pointed out in his Nashville Business Journal article on the announcement, the West End Summit once complete and fully occupied, should be an anchor that helps tie together downtown, the Gulch and Midtown. A next step that is critical in increasing the desirability of the urban Nashville landscape for homeowners and developers.
West End Summit Will Positively Effect the Surrounding Area
West End Summit’s two towers will provide 900,000 square feet of office space of which Parallon is expected to occupy about 350,000 square feet in one tower and Sarah Cannon Research Institute about 150,000 square feet in the other. The remaining square footage is being reserved to attract other companies or will be available for future HCA expansion.
The greatest take-away of the HCA Holdings announcement is that the future of Nashville continues to look bright. It’s a great time to live and work in a thriving city that is taking on massive projects that continually help to reinforce its economic stability.
But if you are a Tennessee resident you should also pat yourself on the back. Why? Because you helped “sweeten the pot” for HCA to the tune of $59 million in developmental incentives that come from state and local taxpayer funds. For a breakdown of these incentives check out Brian Reislinger’s article in the Nashville Business Journal.
Homes for Sale in Nashville, TN Around the West End Summit[idx-listings linkid=”278582″ count=”15″ showlargerphotos=”true”]
So you’re thinking about buying a home. Great! Now is an awesome time to buy real estate in Middle Tennessee and I really mean it…the numbers are in your favor.
Home sales were up 26% in July 2012 compared to July of 2011. Couple that with historically low interest rates and deflated values. You really stand a good chance of finding a home that will give ya great value.
That said, here is my #1 most important real estate buying tip – Remember to look at the big picture and when looking at the big picture ask yourself these three important questions:
1. How long are we planning to live here?
Determine the range of years that you are interested in staying at a location. If your planned stay is two years then your goals are going to be a lot different than someone looking for a ten year residence. How does the school zone impact your decision?
2. What does the historical sales data and current economic climate show about the areas stability and value?
Nerd alert, nerd alert…but seriously, it is very important to balance the emotion of purchasing your favorite house with a statistical understanding of how the neighborhood has acted over the last five years along with a general understanding of certain economic impacts. For example: When the Saturn plant shut down in Spring Hill there was a negative economic impact on home values in that community. Now that GM has announced they will be reutilizing the facility, it wouldn’t be crazy to thing that there would be a positive economic impact on home values in the area.
3. What are key elements to consider when trying to project the changing value of the area over the course of the next year, two years, five years, ten years?
This is the hardest part about buying a house because you are speculating on the best information you have available and alot of times it is limited. This is where the rubber really meets the road and you have to make a decision based on facts, speculation and your ‘gut’. Don’t underestimate the power of your gut feeling. I recommend people refer to this feeling when there is no clear path. Of course that is after long detailed conversations about the data and how I interpret it.
There is great pride in taking on the role of homeowner when you buy a house. With a little planning along with making the right home purchase for your situation there really is nothing to be worried about.