By Marty Heflin
Principal
M2H Group
Construction Update
Good news to report from the 1101 Eighteenth construction front: our General Contractor, Solomon Builders, is really hitting its stride and the quality of the workmanship is excellent. A mild winter (so far!) has allowed us make great progress with the concrete structure and at this writing Solomon Builders is preparing to pour the back half of the fifth floor. The front half should get poured within the next 10 days. That leaves the sixth floor and roof levels to finish up, and that should happen over the next 30-40 days.
The concrete structure of 1101 Eighteenth is nearing completion.While all this concrete is being poured, interior work has begun on the lower floors. Plumbing is roughed in up to the second floor and electrical is close behind. This week, the interior framer will begin laying out the actual walls for the units.
Because construction is progressing so well, there is a good chance that units on the lower floors will be ready to occupy by June to mid-July, with all units complete by late October. These dates are tentative as of today, but as we move forward and things firm up, we will keep you apprised of the actual dates.
Incredible Views
The views from 1101 Eighteenth are even better than we had originally imagined. From the third floor up, downtown is clearly visible. There are some excellent views on the north side, where the state capitol is peaking between a couple of buildings in the distance! Lower down, the focus northward is the green and pastoral vista of Scarritt College. On the south side, 18th Avenue rolls up the hill to the pleasant emerging redevelopment of the Peabody Campus of Vanderbilt University.
The view from the 3rd floor looking north.Neighborhood Development
You may have noticed some construction activity on the adjacent lot to the south. This is owned by Vanderbilt University, which is constructing a day care center for university employees. The building will only be one story tall and will have a playground in the front and back.
In other neighborhood development news, M2H Group has acquired the adjacent lot north of 1101, on which we plan to build a row of townhomes with garages on the ground floor. This smaller building will be designed to complement 1101 – one of the advantages of the same developer for both projects. We also plan to allow an access easement on the adjacent property for service deliveries to the back of 1101. Plans are to start construction of the townhomes later this year, as space is freed up on the site. Construction would be complete in 12 – 14 months.
1101 Eighteenth and The Condominium Market
There has been a lot of talk about the health of the condominium market in Nashville and in the nation. While the potential for overbuilding still exists in Nashville, we firmly believe that 1101 Eighteenth is very well-sheltered from this risk.
For starters, we have only 56 units, and they are spread across several unique floor plans. This means that in a re-sale environment, 1101 will always have fewer units to sell against than will be the case at the large developments now underway - thereby preserving the equity appreciation of your home. You are not buying into a 300+ unit tower with a ton of investors!
Secondly, 1101 Eighteenth's location is second-to-none. We are walking distance to Vanderbilt University, one of the largest employers in the city. We are minutes away from the joys of Hillsboro Village and the excitement of Midtown. People move into the city for the amenities of the city and 1101 is uniquely positioned to take full advantage of all that Nashville has to offer…and all this on a beautiful tree-lined street! Bottom line: there may be some softening in the condo market as some of the larger deals come on line, but 1101 is very well protected from that.
As of today, there are only 18 units left in 1101 Eighteenth. If you know of someone interested in enjoying all that 1101 has to offer, urge them to call us before it is too late! Prospective buyers should contact The Scott Troxel Team at 615-327-1101