2013 NDP Annual Report - Nashville Downtown Partnership

NASHVILLE DOWNTOWN PARTNERSHIP
2013 BOARD OF DIRECTORS
OFFICERS
DONALD W. ABEL, JR.
Chairman
Fifth Third Bank
JIM SCHMITZ
Vice Chairman
Regions Bank
RONALD V. GOBBELL, FAIA
Secretary
Gobbell Hays Partners, Inc.
BECKY HARRELL
Treasurer
KraftCPAs, PLLC
ROBERT R. CAMPBELL, JR.
Immediate Past Chairman
Waller
Directors
BILL BARKLEY
Chair, Residential Development
City Development Company, LLC
JEFFREY K. BELSER
Ingram Industries Inc.
KEN L. BISHOP
NASBA
KENNETH BLACKBURN
AT&T
MIKE BLOSSER
LP Building Products
C. ALLEN BRADLEY, SR.
Nashville Electric Service
KENT CLEAVER
Avenue Bank
JENNIFER COLE
Chair, Retail Development
Metro Arts Commission
GEORGE V. CRAWFORD, JR.
Gullett, Sanford, Robinson
& Martin, PLLC
KIRBY DAVIS
First Management Services, Inc.
JOHN FLEMING
Renaissance Nashville Hotel
THE VERY REV. TIMOTHY KIMBROUGH
Christ Church Cathedral
BETH FORTUNE
Vanderbilt University
ZACH LIFF
DZL Management
BUTCH SPYRIDON
Ex Officio
Nashville Convention and Visitors Corp
ROBERT A. MCCABE, JR.
Chair, Resource Development
Pinnacle Financial Partners
T. STEPHEN C. TAYLOR
Bass, Berry & Sims PLC
RICHARD FLETCHER
511 Group, Inc.
LIBBY FUNKE
nossi college of art
TONY GIARRATANA
Giarratana Development, LLC
THE HONORABLE ERICA GILMORE
Ex Officio
Metro Council, District 19
WILLIAM GLAUS
The Bank of Nashville
NATE J. GREENE
Colliers International/Nashville
RONNY L. GREER
Frazier and Deeter, LLC
JOHN GUPTON
Baker, Donelson, Bearman,
Caldwell & Berkowitz, PC
JOE HALL
Hall Strategies
THE HONORABLE THELMA HARPER
Ex Officio
State Senator
AUBREY B. HARWELL, III
Neal & Harwell, PLC
WILLIAM HASTINGS
Hastings Architecture
Associates, LLC
SEAN HENRY
Nashville Predators
CHRIS HOLMES
FirstBank
JENNEEN KAUFMAN
Tennessee Titans
KRIS KEMP
Harwell Howard Hyne Gabbert
& Manner
DR. FRANK LEWIS
First Baptist Nashville
ROBERT C. H. MATHEWS, III
The Mathews Company
MARK MCNEELY
McNeely Pigott & Fox
Public Relations
DEBORAH MERRELL
SunTrust Bank
KENT OLIVER
Ex Officio
Nashville Public Library
STEPHEN H. PRICE
Stites & Harbison PLLC
HUGH M. QUEENER
Pinnacle Financial Partners
GREG SLIGH
Chair, Business Development
Chairman, CBID Board
The Hermitage Hotel
BRIAN TAYLOR
Ex Officio
2013 Chairman, The DISTRICT
CARRIE BANKS TEAFORD
St. Thomas Midtown
TONY K. THOMPSON
First Tennessee Bank
ROBERT TOY
SP Plus
JAMES S. TURNER, JR.
MarketStreet Enterprises
THE HONORABLE MIKE TURNER
Ex Officio
State Representative, District 51
BRACKNEY J. REED
Gresham, Smith and Partners
THOMAS D. TURNER
Ex Officio
Nashville Downtown Partnership
CHARLES ROBIN
Robin Realty Co., LLC
RAY WATERS
Hilton Nashville Downtown
RONALD ROBERTS
DVL Public Relations & Advertising
BRENDA SANDERSON
Chair, Public Space
Vice Chair/Secretary-Treasurer,
CBID Board
The STAGE, Legends Corner,
Second Fiddle
RALPH SCHULZ
Ex Officio
Nashville Area Chamber of
Commerce
J. RONALD SCOTT
JRS Investments Incorporated
ALAN VALENTINE
Nashville Symphony
SALLY WILLIAMS
Ryman Auditorium
MATT WILTSHIRE
Ex Officio
Mayor’s Office of Economic
& Community Development
JACK WOOD
Chair, Access & Transportation
Barge Waggoner Sumner
& Cannon, Inc.
SHIRLEY ZEITLIN
Zeitlin & Company, Realtors
Building for the future
Downtown Nashville is on a rapid growth trajectory—which
requires more of everything! A recent market analysis from
MDHA says that downtown can easily absorb at least 3,500
new residential units by 2017 as well as significant new
office space. More connectivity and complete streets, more
transportation options, more green space, more parking
inventory, more employee and residential density, and more
infrastructure improvements—all are part of preparing for
future growth.
Several high-priority recommendations from the South of
Broadway Strategic Master Plan released in January are already
being implemented. For example, a 4.5-acre park on the
east bank will provide a riverfront landing for boats as well
as green space. And a 12-acre west bank park will include a
flood wall and a pedestrian promenade, an event lawn, an
amphitheater, and a mile of new greenway.
Another key project is adding a pedestrian bridge from
SoBro to The Gulch, which brings much needed connectivity
between these two downtown neighborhoods. Also important is the extension of Division Street and reconfiguring
several intersections.
A Downtown Mobility Study will be completed in March, 2014.
Led by Metro Public Works, the study includes pedestrian,
vehicular and bicycle mobility and will determine how projected growth over the next 10 years will impact downtown
transportation patterns.
The growing numbers of downtown employees, visitors and
residents need improved pedestrian, vehicular and bicycle
mobility. Additional transportation options include the
proposed bus rapid transit system, The Amp. Enterprise
Carshare and Nashville B-cycle bike-share are now available.
As we saw in The Gulch and Rolling Mill Hill, major public
investments in infrastructure come first—and private
investments follow. After a decade of planning and preparing,
these two areas are steadily gaining density and
mixed-use development.
The Korean Veterans Boulevard Extension (from 4th to 8th
Avenue South) completed in April is an example of infrastructure investment in SoBro. What a difference a half-mile
makes! The four-lane, median-divided roadway features
sidewalks, bike lanes, on-street parking spaces, green features
including landscaping and LED lighting. The 2-lane modern
roundabout at 8th Avenue South, Lafayette Street and the
KVB Extension includes a center island where a major public
art installation will be. This investment not only improves
access to the area, it also increases the potential for private
investment.
Now is the time for action as we build for the future of
downtown Nashville.
Thomas D. Turner
President and CEO
Nashville Downtown Partnership
2013 Annual Report
RECORD SALES PRICES, ESCALATING RENTS, AND LOW VACANCY:
NEW RENTAL INV E N T O R Y C O M I N G S O O N
BILL BARKLEY, CHAIR, RESIDENTIAL DEVELOPMENT
• The downtown residential picture includes a strong sellers’ market
with increasing prices per square foot, and a continuing 98%
record rental occupancy.
_______________________________________________________
• Downtown is a sellers’ market with 130 downtown closings during
the first two quarters of 2013, 228 closings in 2012 and an average
of 190 per year 2009 through 2011. No developer-owned condos
remain on the market, and only 65 re-sale units (a 3-month supply).
With a 36-month minimum required to plan and complete a project,
the downtown for-sale inventory will not expand any sooner than
late 2016.
_______________________________________________________
• A recent market analysis indicates that downtown can absorb an
additional 700 residential units per year for the next 5 years. To
meet Urban Land Institute’s recommendation for 2% of a city’s
population living within its urban core, Nashville would need an
additional 18,000 units..
_______________________________________________________
• The current downtown housing mix is 51% purchase (2,095 condos
and 209 single family homes) and 49% rental (2,250 apartment
units). Three developments now under construction will add 475
rental units in 2014, and another five planned projects would add
1,124 more apartments. If all are built, the new downtown housing
mix would shift to 63% rental, 37% purchase units.
_______________________________________________________
• Research shows that 75% of Generation Y (age 32 and under) prefer
an active urban lifestyle, with its walkability and convenience, and
the majority of them are single and renters. Demand is also
increasing for high-end renter households for Baby Boomers as
they become empty nesters and/or retire. Trends show that 82%
of household growth will be singles and couples without children
at home. By 2030, it is projected that the predominant household
size will be one person.
Nashville Downtown Partnership
2013 Annual Report
NEW DOWNTOWN RETAIL
WITH
URBAN APPEAL
J E N N I F E R C O L E , CHAIR, RETAIL DEVELOPMENT
• A total of 49 new retail businesses opened or announced between
January 1 and August 31, 2013, which is 16 more than during the
same period last year. Of these, 32 are food establishments, 16
shopping options and 1 is a nightlife venue. The total number of
downtown retail openings in 2012 was 52 (44% more than in 2011).
______________________________________________________
• Fashion designer Manuel has a new retail space at 800 Broadway,
as well as a design and manufacturing studio for his New Vision
collection of apparel and accessories. Bettie Page Clothing at 400
Broadway adds vintage fashion designs for women to the current
mix of downtown shopping options.
______________________________________________________
• After an extensive renovation including new sidewalks and streetlights from Church to Union, the major arts corridor along 5th
Avenue offers popular sidewalk dining at Puckett’s Gro. &
Restaurant. A new coffee and dining option on the busy block this
fall is local favorite Frothy Monkey.
______________________________________________________
• New retail opening onto 5th Avenue South include Bob’s Steak
and Chop House, Bongo Java Coffee and Barlines (all with Omni
Nashville Hotel) and the relocated Hatch Show Print (with the
Country Music Hall of Fame and Museum).
______________________________________________________
• The Nashville food scene is getting favorable press regionally and
nationally. The Partnership’s retail strategy recommends unique,
eclectic restaurants with appeal to an urban population. In SoBro,
The Southern Steak & Oyster and Etch are thriving new dining
options and Husk brings Charleston-style local food to Rutledge
Hill. Rumours Wine Bar in The Gulch and Pub 5 are other new
offerings enhancing the local market.
______________________________________________________
• Downtown Nashville now has over 115 shopping options, 190 dining
options, 88 nightlife venues and 23 galleries—with more to come!
Nashville Downtown Partnership
2013 Annual Report
DOWNTOWN MARKET IS POISED TO ADD
NEW OFF I C E I N V E N T O R Y
GREG SLIGH, CHAIR, BUSINESS DEVELOPMENT
• The Partnership’s Downtown Business Census identified 1,586
businesses, organizations and governmental entities, with a total
of 50,335 employees as of December, 2012. The Accommodations
and Food Services industry sector ranked #2, with almost 6,000
employees. Additional growth is expected in this sector as new
hotels and restaurants come online.
_______________________________________________________
• The mid-year 2013 downtown Class A office vacancy was 7.7% and
all 21st century office buildings have limited vacancy. Recent studies
indicate that downtown could absorb another 500,000 SF of office
space over the next 10 years.
_______________________________________________________
• UBS Nashville Business Solutions Center will bring over 1,200
new jobs downtown beginning in 2014. The global banking and
financial services company is leasing about 98,000 SF at 315
Deaderick Street, which will be extensively renovated and
renamed UBS Tower. Sony/ATV Music Publishing will bring 200
new jobs downtown in December with their move to Fifth Third
Plaza. TransCore relocated its headquarters operation from
Pennsylvania to One Nashville Place. Asurion brought 500 new
jobs to the Ragland Building in fourth quarter, 2012.
_______________________________________________________
• Recent relocations and expansions enhance the synergy of the
central business district. ServiceSource continues its growth track,
and tied for 9th largest employer in the 2012 Downtown Business
Census. Regions Bank named Nashville as its Mid-America headquarters and moved its local and regional headquarters and branch
bank to One Nashville Place. U.S. Bank relocated its Tennessee
headquarters and downtown branch to 333 Commerce Street.
_______________________________________________________
• At Rolling Mill Hill, the renovated Trolley Barns now house a variety
of tenants including several entrepreneurial and nonprofits such
as the e-mail marketing firm EMMA, the Nashville Entrepreneur
Center, Hands on Nashville and the Center for Nonprofit Management.
_______________________________________________________
• The Partnership’s 4th annual Downtown Employee Appreciation
Week in early September featured popular events including
Downtown’s Next Superstar and the highly competitive Corporate
Tug of War. Promoting physical fitness were the Walk with the
Mayor and a Nashville B-cycle event.
Nashville Downtown Partnership
2013 Annual Report
New Venues and Open Plazas
• During the Grand Opening of Music City Center in May, outdoor
concerts were staged on 5th Avenue South next to Music City
Center. Plaza areas linking Omni Nashville Hotel, the expanded
Country Music Hall of Fame and Museum and Music City Center
are a much needed addition for downtown.
_______________________________________________________
Photo Credit: Gary Layda
• Prime new event spaces at the Country Music Hall of Fame and
Museum come online in October—including a 10,000 SF Event
Hall with impressive skyline views from 40-foot glass windows as
well as an outdoor terrace and the 800-seat state-of-the-art CMA
Theater. Connected seamlessly on three levels with the Omni
Nashville Hotel, the greatly expanded facility is set to open in
early 2014.
_______________________________________________________
• The popular First Saturday Art Crawl attracts over 1,500 people
each month to stroll through downtown galleries. Major street
renovations on 5th Avenue North between Church and Union
Streets add sidewalk dining, new streetlights and landscaping,
accented by eight light curtains across 5th Avenue to enhance this
area’s identity as Nashville’s arts district.
_______________________________________________________
• The 42nd annual CMA Music Festival in June, 2013, had a recordbreaking daily attendance of 80,000, with all LP Field concerts sold
out 6 weeks in advance and many featured events were held
inside the spectacular new Music City Center.
_______________________________________________________
• In June, over 14,000 people came downtown for the Nashville
International Puppet Festival. String City, a new production combining puppetry, animations and music to celebrate Nashville’s
country music and puppetry tradition, debuted during the festival.
_______________________________________________________
• Bridgestone Arena ranks 7th in the United States for concert
attendance this year and had a record-setting March attendance
of over 329,000. In 2014 Nashville hosts the NCAA Women’s Final
Four at Bridgestone Arena.
_______________________________________________________
• The iconic Ryman Auditorium is Pollstar’s Theatre of the Year for
the third consecutive year and is also ACM Venue of the Year, and
SRO Venue of the Year.
Nashville Downtown Partnership
2013 Annual Report
GETTING AROUND DOWNTOWN
IS
EASIER
JACK WOOD, CHAIR, ACCESS AND TRANSPORTATION
• A successful LP Field park and ride program managed by the Nashville
Downtown Partnership offers registered downtown employees free
weekday parking in designated LP Field lots. The Partnership provides
optional cost-effective shuttle service to downtown office buildings.
_______________________________________________________
• From 2010 through 2012, an average of 14,221 monthly shuttle
passes was purchased each year. Currently the Partnership utilizes
13 shuttles on three routes for employees. During the first 8
months of 2013, 9,220 monthly passes were sold. With monthly
shuttle passes still only $25, employees can save at least $100 per
month on parking expenses.
_______________________________________________________
• The Nashville Downtown Partnership teams works with prospective
downtown tenants to secure adequate parking options for their
employees. The park and ride initiative frees up about 1,300
downtown spaces per month—more than one full parking garage.
_______________________________________________________
• Downtown parking capacity increased by 1,800 spaces when the
Music City Center Garage opened in May, and by another 640 spaces
when Omni Nashville Hotels opened September 30. Construction is
underway on a 475-space underground parking garage adjacent to
Nashville City Center which is scheduled to open in 2014.
_______________________________________________________
• BEEP (Best Ever Event Parking) is a park and ride option for
Bridgestone Arena events operated by the Partnership since
March, 2010. BEEP provides free parking at LP Field Lot R with
optional round trip shuttle service for only $3 per person. Almost
45,000 vehicles have used this free parking for 332 events, with
60% of the 83,750 passengers choosing the shuttle option.
_______________________________________________________
• BEEP also operates a separate route for Nashville Symphony
patrons, utilizing the Lot R park and ride option for their 88
scheduled events during the 2013-2014 season.
_______________________________________________________
• For the past three years, the Partnership has made another downtown
transportation option available, with four vehicles from Enterprise
CarShare strategically located for short-term use. Over 100 members (including businesses, employees and residents) participate
in this cost-effective program.
Nashville Downtown Partnership
2013 Annual Report
GETTING AROUND DOWNTOWN
IS
EASIER
J A C K W O O D , CHAIR, ACCESS AND TRANSPORT ATION
• In December, 2012, a local fee-based bike-share system, Nashville
B-cycle, was launched by Metro Health Department and the
Nashville Downtown Partnership. Start-up costs were funded
through a Communities Putting Prevention to Work grant from
the Centers for Disease Control.
• Nashville B-cycle, managed by the Nashville Downtown Partnership, currently has 21 automated kiosks and 195 bikes available
in urban neighborhoods. Designed for short trips under one hour,
the bikes are available with the purchase of memberships (24hour, annual, monthly or weekly).
• As of August 31st, 18,810 total Nashville B-cycle memberships
have been purchased, including 17,872 daily and 716 annual
memberships. During the first 8 months, there have been a total
of 29,166 trips or bike checkouts, 6,547,760 calories have been
burned and 155,509 pounds of carbon offset.
• The YMCA of Middle Tennessee stepped up in May to sponsor the
21st Nashville B-cycle kiosk near their downtown facility. Sponsor
logos are prominently displayed on the bikes and/or kiosks, with
an average of 11,500 drivers and 1,400 pedestrians passing each
station daily. To discuss station sponsorships, contact Partnership
President and CEO Tom Turner.
• The Amp, a proposed 7.1-mile bus rapid transit line from Five
Points in East Nashville to White Bridge Road is expected to run
along the Broadway-West End Avenue corridor. In June, Metro
Council approved $7.5 million for final engineering and design of
the Amp and in August, the Federal Transit Administration indicated
the project is approved to advance to the next phase of their funding
application process.
• As recommended in the South of Broadway Strategic Master Plan
completed in January, 2013, Metro Public Works began a Downtown
Mobility Study in July, 2013. When completed in March, 2014, this
plan will provide an efficient and sustainable approach for access
to and movement around downtown Nashville for workers,
visitors and residents for the next 10 years. The study includes a
parking demand and supply analysis, and proposes optimum
street designs and a parking development strategy. Recommendations will also be made to improve vehicular, pedestrian and
bicycle mobility in the downtown area.
Nashville Downtown Partnership
2013 Annual Report
CLEAN AND SAFE SERVICES
PLUS HOSPIT A L I T Y A N D H O U S I N G
BRENDA SANDERSON, CHAIR, PUBLIC SPACE COMMITTEE
• The downtown clean and safe teams provide a wide range of services
to two Business Improvement Districts—one in the central urban
area (CBID) and one in The Gulch (GBID). This combined service
area covers approximately 463 acres.
_______________________________________________________
• During the first eight months of 2013, the cleaning staff removed
over 70,850 pounds of trash, 11,106 square feet of graffiti and
power washed 636 block faces and 882 alleys in the urban core
district. The incidence of graffiti has increased 125% since the
same period last year, and the cleaning team responds quickly to
assist property owners affected. This prompt removal of graffiti
helps prevent recurrences.
_______________________________________________________
• The cleaning team works throughout the CBID and GBID from
7 a.m. to 3:30 p.m. seven days a week. Safety Ambassadors patrol
the CBID from 7 a.m. to 8 p.m. seven days a week and are in the GBID
four nights weekly from 5 p.m. to 11 p.m. Three evenings each
week from 4 p.m. to midnight an ambassador focuses on pressure
washing in areas not easily accessed during business hours.
_______________________________________________________
• Safety Ambassadors also rotate through assignments as Hospitality
Ambassadors. Wearing shirts marked with the universal symbol
for information, they are especially busy during major downtown
events and conventions. As they interact with visitors, the Hospitality
Ambassadors distribute guidebooks and maps and print out
requested directions and coupons to enhance their downtown
experience. Their hand-held Eponics devices include a searchable
database of downtown businesses and printable walking directions. Already this year, they have distributed over 12,000 visitor
information printouts, more than 3,000 of which were coupons
from downtown restaurants and shops.
_______________________________________________________
• An ongoing special project for the clean teams involves litter and
weed removal along major downtown access points at highway
interchanges. They also enhance downtown’s overall appearance
with their periodic cleaning and repainting of junction boxes, light
poles, trash receptacles and tree grates.
Nashville Downtown Partnership
2013 Annual Report
CLEAN AND SAFE SERVICES
PLUS HOSPIT A L I T Y A N D H O U S I N G
B R E N D A S A N D E R SON, CHAIR, PUBLIC SPACE COMMITTEE
• Safety Ambassadors (including those assigned as Hospitality
Ambassadors) monitor downtown streets and sidewalks. From
January through August, they logged 2,038 miles on Segways.
• A successful program initiated in June, 2008, Homeward Bound
offers bus tickets to eligible individuals without other resources.
Eligibility is based on confirmation of favorable job prospects,
benefits or proximity to family. As of September 1, 2013, a total
of 555 individuals have received this relocation assistance. While
in Nashville, the 555 individuals accounted for 4,690 arrests.
_______________________________________________________
• Since July, 2011, a fulltime Social Services Outreach Coordinator
has focused on connecting individuals with high numbers of
downtown arrests to needed services (e.g., drug and alcohol treatment programs, mental health services). This housing first model
used has proved very successful, with 23 clients placed in
transitional housing with supportive services. Of these, 8 have
already moved into permanent housing with wraparound services
and outside sources of support, 7 others are currently in transitional
housing with services, 2 died while in housing and 4 returned to
the street. Based on prior activity, 720 arrests have been avoided
utilizing this housing first model.
_______________________________________________________
• The Metro Homelessness Commission’s How’s Nashville initiative
(which is part of the national 100,000 Homes campaign) is collaborating with the Partnership’s Outreach Coordinator to place
additional clients in Section 8 apartments.
Nashville Downtown Partnership
2013 Annual Report
downtown Nashville Has Friends
• Social media options reach an immediate audience with interesting
and timely downtown news. The Nashville Downtown Partnership
currently has 31,000 fans on Facebook, a 55% increase since
August, 2012. The Partnership’s multiple Twitter accounts reach
28,791 followers, an 80% increase since August, 2012.
_______________________________________________________
• The Nashville Downtown Partnership’s social media statistics
consistently outpace those of comparable organizations in other
cities such as Orlando, Denver, Memphis, Atlanta, Austin,
Charlotte and Indianapolis. The Partnership’s Facebook numbers
also exceed those of the top local print and radio media outlets.
_______________________________________________________
• The Nashville B-cycle website (nashville.bcycle.com) came online
in November, 2012. Nashville B-cycle has 952 Facebook fans and
573 Twitter followers.
_______________________________________________________
• Working with Geocentric software systems since 2010, the Partnership launched its two redesigned websites in late September.
Both nashvilledowntown.com and parkitdowntown.com are now
responsive. The website being viewed automatically fits onto the
screen of your phone, tablet or computer. This new functionality
allows users to access all of the information on both websites.
_______________________________________________________
• At nashvilledowntown.com, an events calendar features over 700
downtown happenings each month. The website’s point-location
mapping feature provides users with detailed information about
downtown destinations, including 190 dining options and 116
places to shop.
_______________________________________________________
• A primary resource for downtown parking information,
parkitdowntown.com includes interactive maps, photos of garage
entrances, current rates, LP Field park and ride options and special
discount offers.
_______________________________________________________
• Published twice each year, about 70,000 copies of The Guidebook
are distributed to hotels, restaurants, business and residential
locations. This comprehensive listing of downtown options in 39
categories is also maintained online at nashvilledowntown.com.
Nashville Downtown Partnership
2013 Annual Report
INVESTORS ADD $1.2 MILLION
FOR DOWNTOWN I N I T I A T I V E S S I N C E 2 0 0 6
ROBERT A. MCCABE, JR., CHAIR,
RESOURCE DEVELOPMENT COMMITTEE
• Each year, Board members and the broader business community
partner with us in downtown economic development. Since 2006,
80 corporate investors have committed over $1,200,000 to implement
a variety of key initiatives of the Nashville Downtown Partnership.
________________________________________________________
• This number of investors grows each year, with six new groups added
in 2013.
________________________________________________________
• Most investors continue participating annually because they believe
having a strong downtown economy is critically important to the
economic health of the entire region and they value the Partnership’s
advocacy for downtown businesses and residents. Also, 58% of the
2013 investors are represented on the Partnership’s Board of Directors,
investing their time and talents for the good of downtown Nashville.
• Annual corporate investments have supported a comprehensive
downtown retail strategy, downtown street beautification and
landscaping projects, upgrades to the Downtown Development
Center, the enhancement of user-friendly interactive websites and
the expansion of a successful street outreach initiative.
________________________________________________________
• Other Partnership investment opportunities include annual membership dues, downtown home tour sponsorships, annual meeting
sponsorships and guidebook advertising. From this menu of options,
investors choose one or more categories that best complement
their business goals.
CORPORATE INVESTORS 2006 – SEPTEMBER, 2013
Ajax Turner Co., Inc.
American Constructors, Inc.
Amstar Group
AT&T
Avenue Bank
Baker, Donelson, Bearman, Caldwell
& Berkowitz, PC
The Bank of Nashville
Bass, Berry & Sims PLC
BDO USA, LLP
Beaman Automotive Group
Boyle Investments & Northwestern
Life Insurance Company
Bridgestone Americas Holding, Inc.
Brasfield & Gorrie
Bristol Development
Brookside Properties
CapStar Bank
Caterpillar Financial Products Division
CCA of Tennessee, LLC
Central Parking System
Colliers International/Nashville
Core Development Services, LLC
Corner Partnership, LLC
Crosland, LLC
CVS Caremark Corporation
DZL Management Co., LLC
Eakin Partners
Earl Swensson Associates
Enterprise Holdings Foundation
Fifth Third Bank
First Management Services
First Tennessee Foundation
FirstBank
Frazier & Deeter, P.C.
Genesco
Giarratana Nashville, LLC
Gobbell Hays Partners
Gresham, Smith and Partners
Gullett, Sanford, Robinson & Martin, PLLC
Harwell Howard Hyne Gabbert & Manner, PC
HCA/TriStar Health
The Hermitage Hotel
Ingram Industries, Inc.
KPMG LLP
KraftCPAs, PLLC
Lewis, King, Krieg & Waldrop, P.C.
MarketStreet Enterprises
Martha and Bronson Ingram Foundation
The Memorial Foundation
Metro Development & Housing Agency
Music City Suites, LLC
Nashville Electric Service
Nashville Pinnacle, LLC
Nashville Predators
Neal & Harwell, PLC
Nissan North America
O’Charley’s Inc.
Parallon Business Services
Piedmont Natural Gas
Pinnacle Financial Partners
Premier Parking
Regions Bank
Sarah Cannon
Sherrard & Roe, PLC
SMS Holdings
SSC Service Corporation
St. Thomas Health
Sprintz Furniture
The Stage on Broadway, Inc.
and Legends Corner, Inc.
Stites & Harbison, PLLC
Strategic Hospitality, LLC
SunTrust Foundation
Tennessee Titans
Tower Investments, LLC
Tuck-Hinton Architects
Vanderbilt University
Vanderbilt University Medical Center
Village Real Estate Services
Walker Tipps & Malone
Waller
Wildhorse Saloon
Work and Greer
XMi Commercial Real Estate
Zeitlin and Company, Realtors
Bold type indicates 2013 YTD investors
Nashville Downtown Partnership
2013 Annual Report
DOWNTOWN NASHVILLE IS A MAGNET
• Local and out-of-state investors are adding downtown office
buildings to their portfolios. Recent sales include Bank of America Plaza, 330 Commerce, and 315 Deaderick (to be renamed UBS
Tower after major renovations). The Pinnacle at Symphony Place
set a new $153 million sales price record. The sales price for
Nashville City Center is also over $100 million.
_______________________________________________________
• Office investment sales, combined with long-term leases and a
diversified mix of tenants with younger workforces, adds stability
to the downtown market.
_______________________________________________________
• With the opening of Music City Center, increased downtown
hotel capacity is needed. The new Omni Nashville Hotel expands
the downtown hotel inventory by 25%. Hyatt Place, Hilton Garden Inn and Fairfield Inn & Suites are under construction, and at
least four other hotels have been proposed. Metro incentives
have been committed for a Hyatt Regency on Broadway at Third
Avenue and a Marriott on Demonbreun between 7th and 8th. Existing downtown hotels are also making significant investments
in facility upgrades to strengthen the expanding market.
• Residential developers continue to add new downtown rental inventory in response to the strong rental market. A recent market
study indicated that downtown needs an additional 3,535 residential units over the next five years.
_______________________________________________________
• On the east bank of the Cumberland, construction begins this fall
on a new 4.5- acre park that will provide public access to the river
for boating and add green space. As part of the West Riverfront
Master Plan, a new 12-acre park on the former Thermal site is
now in the design phase. The west bank park will include a flood
wall, a pedestrian promenade, new greenway, a 1.5-acre event
lawn and a 2,500-seat amphitheater, with grass seating for an additional 4,000 people.
Nashville downtown partnership
12%
45%
43%
Property Assessments
Earned
Contributions, Sponsorships
& Memberships
Nashville Downtown Partnership
2013
Resource Allocation
8%
11%
40 %
11%
30%
Access and Transportation
Public Space Management
Economic Development
Advocacy/Administration
Image & Communications
2013 Annual Report
TTax
ax Audit Advisory
P
Proud
roud Suppor
Supporter
ter of the Nash
Nashville
ville Downtown
Downtown Partnership
Partnership
615.259.7600
www.frazierdeeter.com
www
.frazierdeeterr.com
Nashville
Atlanta
Kellie M. Hargis, Ed.D.
Executive Principal
Kellie.hargis@mnps.org
Richard Ripani, Ph.D.
Band Director
Richard.ripani@mnps.org
Hume-Fogg
A C A D E M I C M A G N E T
H I G H S C H O O L
101 years at the corner of Broadway and 7th Avenue North
1,000 students, faculty and staff downtown every day
Ranked 37th nationally, 1st in Tennessee on
U.S. News & World Report’s 2013 list of Top Public High Schools
2013 Tennessee Reward School for Performance
in Student Achievement Scores
Join the Nashville Downtown Partnership in Supporting this
Outstanding Downtown School In Its Tradition of Excellence
Pinnacle Financial Partners has contributed this space.
Downtown Nashville.
Our Home.
Since opening our doors in 1955, we have watched downtown
Nashville grow into a thriving community. From our
downtown headquarters, we’ve planned, surveyed, designed,
and engineered buildings and sites on nearly every block.
BWSC is downtown—and proud of it.
METRO PUBLIC SQUARE AND COURTHOUSE | LP FIELD | RIVERFRONT PARK | COUNTRY
We have you AND the Southeast covered.
MUSIC HALL OF FAME | SCHERMERHORN SYMPHONY CENTER | FRIST ART
Providing businesses with comprehensive legal
services from more than 650 attorneys and
advisors across 19 offices.
TREATMENT FACILITY | CUMBERLAND PENTHOUSES | SHELBY STREET PEDESTRIAN
CENTER | COMMERCE STREET | CHURCH STREET | 2ND AVENUE | KOREAN
VETERANS BOULEVARD | CUMBERLAND RIVER GREENWAY | BIOSOLIDS
BRIDGE | VIRIDIAN | ENCORE | MUSIC CITY CENTER | BICENTENNIAL MALL | HILTON
PARKING GARAGE | OMNI HOTEL | MCC POLICE PRECINCT
ALABAMA s FLORIDA s GEORGIA s LOUISIANA s MISSISSIPPI s
TENNESSEE s TEXAS s WASHINGTON, D.C.
www.bakerdonelson.com
THIS IS AN ADVERTISEMENT. Ben Adams is Chairman and CEO of Baker Donelson and is located in our Memphis office, 165 Madison
Avenue, Suite 2000, Memphis, TN 38103. Phone 901.526.2000. ©2013 Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
211 Commerce Street, Suite 600, Nashville, TN 37201
To learn more, visit www.bargewaggoner.com
ELITE TEAM
Other real estate firms think of Nashville
in terms of square feet. But each day tens
of thousands of people stride in and out of
the CBD ready to work, live, shop, dine and
entertain. Understanding them, their needs
and their plans, is central to any decisions
about property lease, management or
investment in Middle Tennessee. With an
elite team of over 30 professionals serving
Nashville, and being connected to industry
leaders in 482 offices around the world,
our expert analysis and insight creates a
knowledge advantage for businesses that
are here and helps them move forward.
c
c
www.colliers.com | 615 850 2700
Art
Gullett Sanford
Robinson & Martin
Gullett Sanford
Robinson & Martin PLLC
Attorneys at Law
A great downtown
is at the heart
of every great community.
Thank you, Nashville Downtown Partnership, for
all you do to make Downtown Nashville one of our
country’s most vibrant places to live, work, and play.
Gullett Sanford
Robinson & Martin
is proud to support the
Nashville Downtown Partnership,
its members, and the
businesses and individuals
that make downtown Nashville
their home.
STREET
©2013 First TTennessee
ennessee Bank National Association. Member FDIC. www
www.firsttennessee.com
.firsttennessee.com
Thank you
NASHVILLE DOWNTOWN PARTNERSHIP
for your contribution to the success of Downtown Nashville!
| 150 THIRD AVENUE SOUTH, SUITE 1700, NASHVILLE, TN, 37201
PHONE | 615.244.4994
FAX| 615.256.6339
WEB | GSRM.COM
KraftCPAs
PLLC
Helping clients
build business
value and personal
wealth since 1958.
CPAs and business advisors with:
– international resources
– middle market and small business experience
– validated customer service excellence
HASTINGS
A R C H I T E CTU R E A SSO C IATES, LLC
+
greenSTUDIO
Sustainability Consulting
www.haa.us / www.greenstudio.us
www.kraftcpas.com • 615-242-7351
Work Hard. Play Hard.
We’re Engineered For Nashville.
Since 2004, LP Building Products has been proud to
call Nashville home. As part of the Nashville Downtown
Partnership our pride is demonstrated in
the active role we are taking in shaping
the future of the community.
OSB
SmartSide®
SolidStart®
TopNotch®
TechShield®
CanExel®
FlameBlock®
C R E AT
AT E . E N G AG
A G E . CO
C O M M U N I C AT
AT E .
We know
the new
Music City
Center
from the
ground up!
LPCorp.com
© 2013 Louisiana-Pacific Corporation. All rights reserved. All trademarks are owned by Louisiana-Pacific Corporation.
,
,
THANK YOU DOW
DOWNTOWN
WNTOWN PPARTNERSHIP
ARRTNERSHIP
FOR MAKI
MAKING
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SMASHVILLE
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A PREMIER SPORT
SPORTS
TS AND ENTE
ENTERTAINMENT
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DEST
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The brand new Music City Center is conveniently
located in the heart of downtown Nashville. We have
an 1,800 space parking garage, and the size and
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NASHVILLE DOWNTOWN PARTNERSHIP
20 1 3 m e m bers
ARCHITECTURAL, ENGINEERING CHURCHES
Christ Church Cathedral
AND DESIGN SERVICES
Downtown Presbyterian Church
Barge Waggoner Sumner & Cannon, Inc.
EOA Architects PLLC
Gobbell Hays Partners, Inc.
Gresham, Smith & Partners
Hastings Architecture Associates, LLC
Hawkins Partners, Inc.
RPM Transportation Consultants, LLC
Sorci & Swords Design, Inc.
Tuck Hinton Architects
ARTS AND
ENTERTAINMENT
The Frist Center for the Visual Arts
Nashville Predators
The Nashville Symphony
Ryman Auditorium
Tennessee Performing Arts Center
BANKING, FINANCIAL AND
ACCOUNTING SERVICES
Avenue Bank
Bank of America
The Bank of Nashville
BDO USA, LLP
CapStar Bank
DGLF CPAs & Business Advisors
Fifth Third Bank
First Tennessee Bank
FirstBank
Frazier and Deeter, LLC
JRS Investments Incorporated
KPMG
KraftCPAs, PLLC
New Business Development
Mastrapasqua Asset Management
Pinnacle Financial Partners
Regions Bank
SunTrust Bank
Ted Welch Investments
First Baptist Nashville
CONSTRUCTION
American Constructors, Inc.
Skanska USA Building Inc.
Turner Construction Company
United Construction Company, LLC
CORPORATE OFFICES
AND UNIVERSITIES
Asurion
Central Parking System
LP Building Products
Parallon Business Solutions
Sarah Cannon
ServiceSource
Standard Parking
Vanderbilt University
HOTELS
The Hermitage Hotel
Hilton Nashville Downtown
Omni Nashville Hotel
Renaissance Nashville Hotel
Union Station Hotel
LEGAL SERVICES
Baker Donelson
Bass Berry & Sims PLC
Dickinson Wright PLLC
Frost Brown Todd LLC
Gullett, Sanford, Robinson & Martin PLLC
h3gm
Manier & Herod
Neal & Harwell, PLC
Sherrard & Roe
Stites & Harbison PLLC
Trauger & Tuke
Tune, Entrekin & White, PC
Waller
Windmill Title LLC
With their annual membership investments,
these groups support a strong downtown and
participate in the Partnership’s initiatives to
advance downtown economic development
MEDIA
The TENNESSEAN
METRO GOVERNMENT
Metropolitan Nashville Airport
Authority
Music City Center
NON-PROFITS
AND ORGANIZATIONS
Cooper for Congress
The DISTRICT
Nashville Convention and Visitors Corp
National Association of State Boards
of Accountancy
Nashville Scottish Rite Bodies
Tennessee Road Builders Association
PUBLIC RELATIONS
AND MARKETING
Destination Nashville
DVL Public Relations & Advertising
Event Logistics, Inc.
Hall Strategies
Katcher Vaughn & Bailey Public
Relations
Malham Leverage Group
McNeely Pigott & Fox Public
Relations, LLC
REAL ESTATE BROKERS,
DEVELOPERS AND
PROPERTY MANAGEMENT
Bristol Development Group
CBRE
Colliers International/Nashville
Corner Partnership, LLC
Starling Davis, Fridrich & Clark
Realty
Eakin Partners
First Management Services
Howard & Manis Enterprises, LLC
MarketStreet Enterprises LLC
MJM Real Estate Investments, LLC
One Nashville Place
Parkway Properties, Inc.
C.B. Ragland Company
Robin Realty Company LLC
The Stanton Group, Inc.
Tower Investments, LLC
Village Real Estate Services
Warner Partners, LP
XMi Commercial Real Estate
Zeitlin & Co., Realtors
RETAIL, RESTAURANTS
AND ENTERTAINMENT
Dunn Bros. Coffee
Jack’s Bar-B-Que
Legends Corner
The Second Fiddle
The Stage on Broadway
Sweet Magnolia Tours
SECURITY
Block-by-Block
Brantley Security
UTILITIES
AT&T
Nashville Electric Service
Piedmont Natural Gas
downtown Nashville
The compelling urban center
to make
in the Southeast
in which to
LIVE, WORK, PLAY and INVESt
150 Fourth Avenue North, Suite G-150 Nashville, TN 37219 615.743-3090
www.nashvilledowntown.com
|
www.parkitdowntown.com
www.nashvilledowntown.com