Pollack Partners to Buy and Convert Velocity Condos to Apartments
March 10, 2011 by admin · 25 Comments
The Nashville Business Journal is reporting that today, multi-family developer and operator Pollack Partners from Atlanta, will buy the remaining 220 unsold condos in the Velocity in the Gulch for $24.5 million. While it has not been announced publically, Pollack Partners will be converting the condos into apartments, potentially leaving the current 43 Velocity condo owners out [...]
Velocity in the Gulch Sold Condos 2010
September 5, 2010 by admin · 25 Comments
As promised to a reporter who called today, here is the current list of sold condos for the Velocity in the Gulch. Clearly, the momentum has vanished in this project as a result of the ownership restructuring and loss of high LTV financing options for new buyers. The rumor mills continue to churn as other [...]
Velocity in the Gulch Restructures Ownership
July 1, 2010 by admin · 26 Comments
This morning the Tennessean reported that the Velocity in the Gulch’s ownership has been restructured. “The new owner of the 265-unit building in the Gulch is Velocity Residential LLC, with its principal offices listed with the identical address as the project’s lender, BBVA Compass Bank.” It should be noted that BBVA Compass in not the [...]
Velocity Condos in Nashville Sales Update
December 10, 2009 by admin · 7 Comments
As of the end of November, the Velocity in the Gulch has closed 20 condos out of a possible 265 (7.5%). Granted, the grand opening was just over a month ago, but sales have yet to set any impressive marks. Surprisingly, the average price per square foot still far exceeds $300/ft coming in at $330.58. [...]
Velocity in the Gulch Condo Sales Update
September 19, 2009 by admin · 21 Comments
It has been tough sledding for the 265 unit Velocity in the Gulch condo project located next door to the Icon. For a project whose presales numbered in the hundreds, having 9 total closings (3.4%) in the first 3 months since opening does not seem impressive. Even less impressive is the over $325 a foot [...]
For a decade, Grant Hammond has been a leader in the greater Nashville real estate marketplace. In the first half of 2011, he is again the top producing Realty Executives broker in Middle TN.
