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 [...]

Nashville Condo Prices

April 12, 2010 by admin · 9 Comments 

Most of you know that I keep a keen eye on the Nashville condo market and prices, but many of you don’t realize how much in-depth research I do. It is also interesting to learn that many buyers assume that the Velocity in the Gulch is the least expensive condo development in Nashville, but that is [...]

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. [...]

Terrazzo Auction Will Impact Nashville Condos

November 6, 2009 by admin · 26 Comments 

This article entitled “Terrazzo auction will impact condo prices across Nashville” appeared in the Nashville Business Journal on November the 6th, 2009. The author is Eric Snyder: Velocity, the last new condo project that will come to the downtown Nashville market for several years, has officially opened its doors. Meanwhile, Terrazzo, one of downtown’s more [...]

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 [...]

Pictures of Velocity in the Gulch in Nashville

June 28, 2009 by admin · 21 Comments 

The entrance to the Velocity condos is located on the Pine Street side of the building. This side of the building is currently 95 percent complete and looks quite modern.    The main lobby in the Velocity is not the largest lobby in downtown, but it might be the most interesting. There are a variety of [...]