Less than 3 Units Remain for Sale at Alina

CA South is excited to announce that Alina only has two residences for sale remaining out of 50.

Alina is a modern 50-unit residential condominium project completed in March 2020. Like our property Illume, Alina fills a desperately needed void in the Nashville residential market; “affordable luxury” condos near trendy neighborhoods and restaurants with modern contemporary design.

Alina residences boast 9 -10’ceilings, oversized windows, and modern finishes.

This property also emphasizes large open spaces and significant natural light. Alina provides ample common areas that are perfect for entertaining, working from home, and relaxing.

Alina’s lifestyle amenities include a Peloton Studio, Resident’s Lounge, and Rooftop Terrace with access to gas grills. The rooftop offers remarkable views of Nashville’s skyline, Fort Negley, and Rose Park.

Located at 806 Olympic Street, Alina is centrally located in the heart of the Gulch View neighborhood, blocks from the Gulch, 12 South, Vanderbilt, and Belmont.

For inquiries on our last four units, please contact the selling agents with COMPASS at 615-747-1025 or email alinanashville@compass.com.

CA South Projects Underway

CA South builds small-to-mid-sized office condos, flex-office- warehouse/industrial parks, multifamily rentals, and residential condominiums which traditional developers and capital markets are not efficient or cost-effective at producing; asset classes where supply is severely constrained but for which demand is very strong.

Projects currently underway include Eve, Pie Town, Parachute, Allston, and Callis Road.

CA South’s PARACHUTE broke ground in April 2021 and will consist of an 83,000 sq. ft., 108-unit multi-family apartment building with 2,500 sq. ft. of ground-floor retail. CA South partnered with Argosy Capital and Bradley Development Group to construct the Property, which is situated in a Qualified Opportunity Zone between Nashville’s vibrant South Gulch and Edgehill neighborhoods and enjoys prominent street frontage on 8th Avenue South.

EVE is an under-construction 28-unit residential condo development along the Cumberland River. The location is a short walk to Broadway’s music entertainment district, Germantown, baseball, and football stadiums, and downtown. The project features excellent views of downtown and both river and greenway biking access. Eve is set to be delivered in fall of 2021.

PIE TOWN CONDOS broke ground in April 2021 and will consist of a 104,000 sq. ft., 78-unit residential rental building with approximately 7,000 sq. ft. of retail space. Like Illume and Eve, Pie Town has Short-Term Rental zoning and will target investor buyers who plan to lease their units on Airbnb.

ALLSTON OFFICE CONDOS is an under-construction 78,000 sq. ft. Class A Office Condominium development on ~20 acres, located approximately 5 minutes from historic downtown Franklin, TN. The project’s ample parking and proximity to Nashville, Franklin, Brentwood, and other affluent suburbs offer needed office space to small businesses seeking between 5,000 sq. ft. and 25,000 sq. ft. of office space that they can acquire and own instead of lease.

CALLIS ROAD INDUSTRIAL PARK is an under-construction flex office-industrial development on ~33 acres, located 20 miles East of Downtown Nashville. The development’s excellent location, modern design, excellent freeway access, 28’ ceiling heights, and affordable price-point provide excellent value to small business owners requiring 15,000 to 25,000 sq. ft. of the warehouse, light-industrial, and office space.

To keep up with CA South’s construction activity sign up for our newsletter for quarterly updates at; casouthdevelopment.com

Nashville – 2021 Best Places to Live

Despite recent events such as the March 2020 tornado and the ongoing pandemic; Nashville has shown its resiliency. According to Today, “The Music City has been ranked in the Top 10 Cities to Live After the Pandemic.” Roofstock.com also ranked Nashville as one of the 10th fastest-growing metros in the U.S.1

Nashville has another ranking to be proud of as it was ranked 30th in the U.S. News & World Report’s Best Places to Live in 2020-2021.

 “Nashville is famous for the Grand Ole Opry, the Ryman Auditorium, aka the Mother Church of Country Music, and twangy honky-tonks. But music is just a byproduct of the larger city culture. Music City is home to a community fiercely driven by a desire to create. Ask people what they do, and it’s likely they live in the area to help build something new,” the magazine wrote. 2

 The rankings are determined on several dynamics such as job market, value, quality of life, desirability, and net migration rankings. Nashville’s score was a 6.9 out of 10 overall. 2

 U.S. News & World Report’s analyzed 150 metro areas in the U.S. to determine which are the best places to live. Below is Nashville’s scorecard:

  • Job Market – 6.8
  • Value – 7.2
  • Quality of Life – 6.0
  • Desirability – 7.6
  • Net Migration – 7.7

Here are the Music City’s overall rankings:

  • 30th in Best Places to Live
  • 12th in Best Places to Retire
  • 1st in Best Places to Live in Tennessee
  • 25th in Fastest-Growing Places

1 https://ctycms.com/tn-nashville/docs/annual-residential-report-2020pdf-for-website.pdf

2 https://www.bizjournals.com/nashville/news/2021/07/14/nashville-ranks-best-places-2021.html

3 https://realestate.usnews.com/places/tennessee/nashville

Tennessee Landed in Top 5 Best States for Business

For the first time ever, Tennessee has landed in the top 5 best states for business according to a study by CNBC.

CNBC stated in a release that the study was in measurement of which states are most likely to succeed when the country comes out of the global COVID-19 pandemic.1

In this recent study, all 50 U.S. states were ranked and given 85 metrics across the categories below:

  • Cost of doing business
  • Workforce
  • Life, health, & inclusion
  • Economy
  • Infrastructure
  • Technology & Innovation
  • Education
  • Business Friendliness
  • Access to capital
  • Cost of living

Tennessee’s highest-ranking category was economy, coming in at number overall. The Volunteer State also scored in the top ten of doing business, cost of living, and infrastructure.1

Here is the breakdown for each category:

  • 5th in Cost of Doing Business with 265 points
  • 25th in Workforce with 180 points
  • 46th in Life, Health, and Inclusion with 113 points
  • 2nd in Economy with 194 points
  • 4th in Infrastructure with 245 points
  • 32nd in Technology and Innovation with 82 points
  • 23rd in Education with 84 points
  • 20th in Business Friendliness with 117 points
  • 14th in Access to Capital with 124 points
  • 8th in Cost of Living with 65 points

Overall, Tennessee scored a 1,468 out 2,500 points.

1 https://www.bizjournals.com/nashville/news/2021/07/15/tennessee-lands-top-five-slot-best-states-for-biz.html

2 https://www.wymt.com/2021/07/15/tennessee-ranked-fifth-among-americas-top-states-business/

Changes to The Wedgewood-Houston Neighborhood

Wedgewood-Houston, also known as “WeHo”, is a neighborhood located just a few blocks South of downtown Nashville. WeHo has quickly become one of the hottest areas in Music City because of the proximity to Downtown, distilleries, restaurants, and art venues.

Cincinnati developer, Capital Investment Group Inc., announced plans for a Wedgewood community which includes a commercial space for Braxton Brewing Co. and 151 residences located on 467 Chesnut St.

Apple Music isn’t too far behind either with plans to add 30,000 sq ft. of office and outdoor event space already under construction and nearing completion.

Other notable residents in the WeHo community include Soho house, WeHo Crossing, Standard Assembly, WeHo flats, T3 Finery, May Hosiery, Nashville Warehouse Co.

The newest resident to the WeHo neighborhood will be CA South’s Headquarters at 1219 4th Ave South. WeHo’s industrial roots and urban feel caught CA South’s attention and the renovating of the former Purina Mills distribution building is underway.

Similarly to many of the other developments in the area, CA South is undergoing extensive renovations to make this industrial building a place of their own.

To keep up with CA South’s WeHo office update sign up for our newsletter for quarterly updates at; casouthdevelopment.com

CA South’s Waterfront Condos Delivering Soon

CA South is thrilled to announce that 28 waterfront condos are set to deliver by the end of summer 2021 — in one of the hottest and most walkable neighborhoods in Nashville.

Eve is a modern riverfront development with short-term rental (STR) eligible residences with 1-, 2-, and 3-bedroom floor plans.

Located on the Cumberland River in Germantown/South of Downtown, Eve has been getting a lot of attention and VIP buyers have been gobbling up units (previous buyers from past CAS projects).

The project’s appeal comes from high floor to ceiling windows, large decks that extend out over the river, tremendous views, and quick access to downtown and Broadway. The building is situated on the Nashville Greenway (biking and walking) and gives owners and investors the flexibility to earn income on their units by short-term renting when not in use.

Eve completed its soft launch to kick off its sales and quickly sold-out phase 1 and 2 at prices that far exceeded brokers expectations.

To get on the waiting list for Eve sales, please contact Compass at 615-208-9724.

 

Meet Our COO & General Counsel, Edward Tinsley

Edward currently serves as the CA South’s Chief Operating Officer and General Counsel. In that role, much of his time is spent structuring acquisitions for CA South, and managing the team of analysts, accountants, and attorneys on the debt financing, tax, and legal side of the business. While Meg is the visionary at CA South, Edward does the blocking and tackling to help ensure the CA South vision is built.

Prior to joining CA South, Edward co-founded Southwestern Growth Partners, an opportunistic, regionally-focused private equity and search fund. During his tenure at SWGP, the firm placed over $80 million in investment capital in companies ranging from the upstream oil and gas sector to the restaurant industry.

Prior to co-founding SWGP, Mr. Tinsley was an M&A attorney with London-based law firm Linklaters LLP, participating in over $12 billion in equity and debt transactions. He lived and worked for the firm in New York, London, Hong Kong and Sao Paolo. Edward received his JD from Brooklyn Law School, Master of Science from London School of Economics, and his BA from the University of Southern California.

Home and Condo Closings Both Increase in June

According to a recent market done by Greater Nashville REALTORS®, there were 4,649 home closings reported in the month of June. This report shows an 11% increase over last year. 1

Data for the second quarter of 2021 has shown a total of 12,831 home closings, an increase of 24% from 2020!

The sales of residential condominiums have also increased by 11%. Last year had 3,478 condo sales compared to 3,746 sales this year.

The Greater Nashville REALTORS® 2021 midyear report shows 17,689 closings this year compared to 16,021 last year.

While closings and sales have increased in Nashville, inventory has yet to take off. Inventory at the end of June was 4,615 down from 9,682 in June 2020.

The current inventory of residential condos in Nashville is only 546 units, down by 50% from 1,001 units in 2020.

CA South plans to build more condominiums with Eve – 28 condo units delivering first in early Fall.

To keep up with CA South’s construction activity sign up for our newsletter for quarterly updates at; casouthdevelopment.com

https://williamsonsource.com/closings-see-major-increase-despite-low-inventory/

CA South’s Response to Amazon’s New Office

Nashville’s economic boom has caught the eye of many large businesses such as Amazon and Oracle. Due to the rising job market and low cost of living in Nashville, it has caused large corporations to relocate to a more favorable tax and cost-of-living environment. Additional cap gains and income tax hikes are likely to further accelerate this trend.

The influx of so many high paying jobs has huge ripple effects in the economic infrastructure, creating a boom in service businesses, construction and the entire “support economy”. The result is more demand for industrial / distribution space, which is in increasingly tight supply.

CA South is addressing the extreme shortage for small format industrial product, specifically for individual warehouse users between 3,000 sq. ft. and 50,000 sq. ft., by building over 500,000 SF of spec industrial product in Hendersonville, Mt Juliet (Lebanon) and Madison TN — all submarkets of the Nashville MSA.

While other developers in Nashville pursue larger credit tenants in a traditional build to suit or pre-lease format, CA South has focused on in-fill locations that are a shorter and more convenient commute into the urban core – often part of the “last mile” solution catering to non-credit and more mom-and-pop businesses with albeit still strong financials.

One of CA South’s Industrial properties with on Myatt Drive is near downtown Nashville and just blocks away from Amazon’s new last time distribution center. Amazon signed a 115,000 sq. ft. lease for its build-to-suit on Myatt Drive, with an anticipation date in Q3 2021.1

This location is ideal for smaller distribution and service-related tenants looking for excellent access to the interstate highway network and close proximity to the Nashville Central Business District.

To keep up with CA South’s help with Nashville’s demanding Industrial Market, visit casouthdevelopment.com and sign up for our newsletter for quarterly updates or contact Ben Mosley at Cushman Wakefield for leasing information. 

https://f.datasrvr.com/fr1/621/77141/Nashville_Americas_Marketbeat_Industrial_Q12021.pdf

Nashville’s Growing Condominium Market

Nashville’s growing job market is generating extreme demand for all types of residential housing, including particularly residential condos.

According to Nashville’s Downtown Partnership, there was a 12.5% increase in overall available downtown residential units from just one year ago as a result of notable constriction completions such as the rental tower at 5th and Broadway.1

As of 2020, condominiums make up 25% of Nashville’s downtown housing (apartments making up the balance).1

Over the past six years, there have been only 6 condominium projects adding 535 units to the approximate total existing supply of 2,360 condo units today.1

 Costar reports 9 condominium projects that have been delivered within the last year creating 293 new condo units delivered in 2020-2021.2

Taylor Germantown, 19th and Wedgewood, The Townhomes at Treaty Oaks, Linden Row, and The Jenkins are few of the properties delivered. Most of these properties are located in Germantown, Belmont/Hillsboro, and Edgehill.

Out of these 293 condo units, CA South has chipped in 127, making up 23% of condos delivered in 2020-2021.  Alina and Illume, two new condo projects by CA south are both located in one of Nashville’s most popular neighborhood, Edgehill (Wedgewood Houston adjacent).

Currently, the Four-Season Residences, 83 Freight, Broadwest, and Thrive at City Heights are under construction and planned to be delivered within the next 18 months. Combined, these properties add another ~500 condo units by 2022.1

There are also several projects delivering soon including CA South’s Eve, located right off the Cumberland River. Eve, Alto, The 900, and 829-839 Dickerson Pike will add a total of 208 units to the condo market upon their delivery.

At this rate, Nashville developers will bring somewhere between 775 and 1,000 new units to the market by 2023. While this might sound like a lot, demand is growing faster.

https://ctycms.com/tn-nashville/docs/annual-residential-report-2020pdf-for-website.pdf

https://www.costar.com/

NASHVILLE HEADQUARTERS
918 South Street
Nashville, TN 37203

EMAIL
assistant@casouthdevelopment.com

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500 W. 2nd Street, 19th Fl
Austin, TX 78701

MAILING ADDRESS
718 Thompson Lane, Suite 108-273
Nashville, TN 37204

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