Christie is now of the city
Posted on February 5, 2010 at 2:25 pm
The Metropolitan Development and Housing Agency has been granted possession of the site of Christie’s Cabaret, one of the last pieces of land in the Music City Center’s footprint. The city will pay $1.8 million for the plot.
Judge: MDHA to get Tower land
Posted on February 4, 2010 at 3:32 pmCircuit Court Judge Barbara Haynes has brushed aside Tower Investments’ main arguments in its dispute with the Metropolitan Housing and Development Agency over more than 5 acres in the footprint of the Music City Center.
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Pushing MCC from the dock
Posted on January 29, 2010 at 7:03 am
The mammoth Music City Center will get underway in the next 30 days with the first labors on the relocation of NES’ substation. From there, it will soon be time to knock stuff down.
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MCC involved in foreclosure
Posted on January 28, 2010 at 1:10 pmNot that one.
But fellow Deed Geeks trawling the Register of Deeds site lately may have noticed the surprisingly frequent occurrence of “MCC TN LLC” in foreclosure filings.
Persistent Deed Geeks will see the company is the grantee on the form, immediately assuaging fears that somehow a yet-to-be-built civic project is facing a bank takeover. It turns out MCC TN is the local arm of McCurdy & Candler, a Georgia-based law firm specializing in business and real estate law. The Tennessee branch formed in November.
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Thinking about SoBro with an MCC in the middle
Posted on at 12:16 pm
Christine Kreyling lines up some of the important questions we’ll have to tackle as we redevelop the parts of SoBro not in the footprint of the Music City Center.
“We’ve all been concentrating on if the convention center would happen. Now we should figure out how to take advantage of the convention center to fill in the fabric of SoBro.” Bernhardt says that center construction will bring with it infrastructure improvements — the extension of KVB to Eighth Avenue, the roundabout, underground utility lines and sidewalks — “that could be assets to a nicer neighborhood.”
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Steel convention commits to 2015 visit
Posted on January 27, 2010 at 1:14 pm
Citing the confirmation that the Music City Center will be built, the American Institute of Steel Construction has announced it will hold its annual conference in Nashville in March 2015. The group, which was last in town two years ago, will bring with it 4,000 attendees and more than 4,700 room nights, according to the Convention & Visitors Bureau. The CVB said that brings the total number of rooms already booked for the Music City Center now tops 285,000.
Measuring the drapes
Posted on January 20, 2010 at 10:56 amThe developer of the proposed Medical Mart — to be located at the site of the current convention center — is pleased as punch the Metro Council approved the funding for the new convention center. So pleased, in fact, he was inclined to use powerful words like “accelerating” and “synergy.”
From Market Center Management’s presser:
“With the approval of the Music City Center, we are accelerating our reuse plan for the existing convention center as an open-daily trade center,” said Bill Winsor, president and CEO of Market Center Management Company. “The new convention center is essential for attracting global health care trade events that will welcome tens of thousands of visitors to Nashville. And the trade center will offer both permanent and temporary exhibition space complementing the Music City Center. The synergy between the two facilities will create the most attractive health care exhibition option in the U.S.”
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Approved
Posted on January 19, 2010 at 11:07 pm
Metro Council members have overwhelmingly voted to fund the Music City Center. Joey Garrison has the details and thoughts from the Mayor on the hotel, Jeff Woods some early analysis.
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One vote away
Posted on January 15, 2010 at 7:08 am
The financing plan for the proposed Music City Center skated through two Metro Council committees last night. Up next is Tuesday’s full Council vote.
“Is there a risk? Of course,” said At-large Councilwoman Megan Barry before voting for the plan. “But in my analysis, I conclude that the risk is manageable — not trivial, not minimal, but manageable. I see that as a risk worth taking in order to achieve the economic development outcomes that are realistically in the cards.”
SEE ALSO: Fitch’s warning that it may downgrade Metro’s existing $1.7 billion in debt if the MCC bonds are backstopped by the general fund.
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Chamber: Gaylord not renewing membership
Posted on January 14, 2010 at 7:11 am
Less than a week before Metro Council votes on the Music City Center, Gaylord CEO Colin Reed says he’s “concerned” about the value of the company’s Nashville Chamber membership. Gaylord spokesman Tom Ingram said it’s not that bad.
Ingram said the bill’s arrival last week led Gaylord CEO Colin Reed to send a letter to chamber president Ralph Schulz, expressing “concern about the value that they [Gaylord] are getting from their chamber membership.”
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Study: Music City Center will deliver the cash
Posted on January 6, 2010 at 2:30 pm
Mayor Dean today presented an economic-impact study that says the proposed Music City Center will generate $135 million per year once it moves beyond its start-up phase.
The vast majority of that figure — $86.6 million — represents so-called “direct spending,” dollars spent by conventioneers and exhibitors.
“Consider the debt service of $40 million per year. … Every dollar spent will create $2 in revenue,” Dean said. “These new dollars go directly into the local economy.”
MCC hotel appears sidelined
Posted on December 4, 2009 at 7:51 amBruce Barry relays the basics of the plan presented Thursday by Karl Dean and Rich Riebeling for financing the Music City Center. Among their points: Think about how the Nashville Medical Trade Center might lure hotel developers to town.
Although MCC and NMTC are conceptually and financially distinct, the mayor today suggested not so coyly that their fortunes are now intertwined. Commenting on the delay in proposing a convention hotel, Dean said that MCC and NMTC together will generate the revenue needed to support a hotel. Riebeling added that information about the medical mart could help stimulate private investor interest in a hotel.
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Tower’s alternative
Posted on November 18, 2009 at 4:49 pmThe largest property owner in the footprint of the planned Music City Center has unveiled its plans for integrating a hotel and office space into the $585 million project.
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Downtown biz groups endorse Music City Center
Posted on October 22, 2009 at 3:40 pmThe backers of the proposed $635 million Music City Center have received the not-terribly-surprising support of three downtown-related hospitality and tourism groups.
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MDHA sues to start convention center land buys
Posted on October 19, 2009 at 3:23 pm
The MDHA has deposited more than $31 million with Circuit Court officials, money it intends to pay a group of downtown landowners whose properties sit in the footprint of the planned Music City Center.
The amounts offered add up to almost $6.9 million more than the cumulative value of the properties as appraised for property taxes at the beginning of 2009. On average, the city is offering a 26 percent premium over tax-appraisal value.
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