The 70 story Signature Tower would be the tallest building in the United States outside of New York and Chicago and would offer 400 luxury residences with an exclusive address. The building’s amenities, interior finishes, and resident services are absolutely unparalleled in Tennessee, let alone in the southeastern US. Think of it this way: imagine living on Park Avenue in New York City with panoramic views of Central Park…now simply imagine that building being twice as tall and looking down on over 1.5 million residents in tourist-rich Nashville. The building will also contain a five star hotel operated by the Kempton Hotel Group that will occupy the fist 17 floors of the building. Strangely enough, it is just this hotel group that can save the Signature Tower…
Nashville has the distinct privilege of having one of the lowest hotel vacancy rates in the United States and all of the large hotel chains have noticed. Within the last 12 months, no less than 42 new hotel permits have been pulled in Middle Tennessee. These hotel brands include: Intercontinental, W Hotels, Palamar, Westin, and a host of other business class brands like Hilton and Marriot. With such a low vacancy rate and Giarratana’s need for a fuller building, it appears that the Kempton Hotel Group and Tony are trying to hash out a plan that would be mutually beneficial. Rumors are swirling and speculation is rampant, but I have to believe that if the Hotel Palamar would agree to occupy another 5-7 floors, the Signature Tower would breeze through the new, tougher construction loan guidelines.
In addition to the hotel rumors, other stranger rumors have also come to light. At one point many people thought that the FAA was going to nix the project entirely due to commercial flight path concerns over downtown Nashville. It has since been discovered that the FAA only acts as a advisory council to the city of Nashville and cannot mandate the glass ceiling over Nashville’s central business district. The fact remains, that the city of Nashville has fully approved the construction plan for the Signature Tower and indeed, a building permit has already been issued.
It is my opinion that the construction of the Signature Tower will do nothing short of give Nashville a needed cardiac shock that will usher in the most profitable period of downtown development in the history of the city. Retail, office, commercial, and residential construction will find a new niche by 2010 and the new convention center will grow Nashville to Atlanta’s size by 2030 (whether you like it or not).
March 28, 2009, 10:20 am
I mean no offense, but this reads more like an amateurish and pretentious attempt at coming off as being knowledgeable about a subject but really having no real meat to the story other than trying to make something seem better than it really is; perhaps for personal gain, or perhaps for no other reason than blind over-fanaticism about one’s market. What I want to know is what proof there is of this claim, and exactly what the sources were. I am not saying it isn’t true, but to state such a claim, one better have a stated source…
However, I agree it would make sense as a result of continued increase on hotel investments in Nashville, even during the economic downturn as witnessed by other hotels within the area; and also because of the new convention center which will increase demand in the very near future… most likely much beyond what the currently proposed hotel towers which will be part of the convention center project will be able to provide. This makes for a highly profitable stance for such a hotel, so it makes sense to me.
However, that all being said, I have still have seen no proof of this other than the aforementioned article which definitely is not the final word… but I will keep my eyes peeled.
Has anyone else heard anymore about this? :shrug:
March 28, 2009, 5:20 pm
I mean no offense, but this reads more like an amateurish and pretentious attempt at coming off as being knowledgeable about a subject but really having no real meat to the story other than trying to make something seem better than it really is; perhaps for personal gain, or perhaps for no other reason than blind over-fanaticism about one’s market. What I want to know is what proof there is of this claim, and exactly what the sources were. I am not saying it isn’t true, but to state such a claim, one better have a stated source… However, I agree it would make sense as a result of continued increase on hotel investments in Nashville, even during the economic downturn as witnessed by other hotels within the area; and also because of the new convention center which will increase demand in the very near future… most likely much beyond what the currently proposed hotel towers which will be part of the convention center project will be able to provide. This makes for a highly profitable stance for such a hotel, so it makes sense to me.However, that all being said, I have still have seen no proof of this other than the aforementioned article which definitely is not the final word… but I will keep my eyes peeled.Has anyone else heard anymore about this? :shrug:
March 28, 2009, 10:33 am
There is no possible way that the Nashville MLS area will surpass Atlanta by 2030, as it would have to more than triple in population in just twenty years. That is simply ridiculous.
March 28, 2009, 5:33 pm
There is no possible way that the Nashville MLS area will surpass Atlanta by 2030, as it would have to more than triple in population in just twenty years. That is simply ridiculous.
March 28, 2009, 5:33 pm
There is no possible way that the Nashville MLS area will surpass Atlanta by 2030, as it would have to more than triple in population in just twenty years. That is simply ridiculous.
March 28, 2009, 10:39 am
There is simply no way to say for sure that Nashville MSA will surpass Atlanta MSA by 2030. That means it would have to more than triple in size in just twenty years which would be an unlikely feat… however, it has happened to Nashville before. The 60’s saw such growth in Nashville that it more than tripled its population… so I guess if it did it before, it can do it again, but I just don’t think we can predict that; especially considering the 60’s growth was due largely in part to its new interstate/intrastate system.
March 28, 2009, 5:39 pm
There is simply no way to say for sure that Nashville MSA will surpass Atlanta MSA by 2030. That means it would have to more than triple in size in just twenty years which would be an unlikely feat… however, it has happened to Nashville before. The 60’s saw such growth in Nashville that it more than tripled its population… so I guess if it did it before, it can do it again, but I just don’t think we can predict that; especially considering the 60’s growth was due largely in part to its new interstate/intrastate system.
March 28, 2009, 11:07 am
Perhaps I should have been a little more clear, the Nashville MSA has the possibility of being as large as Atlanta was in very early 2008 (the time this post was written), by 2030. I don’t believe we ever stated that Nashville would ever surpass Atlanta in polulation.
March 28, 2009, 6:07 pm
Perhaps I should have been a little more clear, the Nashville MSA has the possibility of being as large as Atlanta was in very early 2008 (the time this post was written), by 2030. I don’t believe we ever stated that Nashville would ever surpass Atlanta in polulation.
August 9, 2009, 2:35 pm
August 12, 2009, 5:55 am