2012 nashville downtown partnership annual report
DESCRIPTION
A year in review of all of the Nashville Downtown Partnership's programs. Plus, information about development projects and more. Public and private investments continue to transform the thriving neighborhoods within downtown including The Gulch, SoBro and Rolling Mill Hill—each with its own unique character. Retail is flourishing in The Gulch, with new shopping, dining and entertainment venues and the residential inventory is also expanding. Rolling Mill Hill is now home to four rental developments, with others coming soon.TRANSCRIPT
nashv i l l e downtownpar tner sh i p
annual report
2012
OFFICERSDONALD W. ABEL, JR.ChairmanFifth Third Bank
JIM SCHMITZVice ChairmanRegions Bank
RONALD V. GOBBELL, FAIASecretaryGobbell Hays Partners, Inc.
BECKY HARRELLTreasurerKraftCPAs, PLLC
ROBERT R. CAMPBELL, JR.Immediate Past ChairmanWaller
DIRECTORSBILL BARKLEYChair, Residential DevelopmentCity Development Company, LLC
KENNETH BLACKBURNAT&T
MIKE BLOSSERLouisiana-Pacific Corporation
JAMES H. BONDCentral Parking System, Inc.
C. ALLEN BRADLEY, SR.Nashville Electric Service
Jennifer ColeMetro Arts Commission
GEORGE V. CRAWFORD, JR.Gullett, Sanford, Robinson
& Martin, PLLC
KIRBY DAVISChair, Retail DevelopmentFirst Management Services, Inc.
SHEILA DIAL-BARTON, AIAEx Officio2012 Chairman, The DISTRICT
JOHN FLEMINGRenaissance Nashville Hotel
RICHARD FLETCHER511 Group, Inc.
BETH FORTUNEVanderbilt University
LIBBY FUNKEnossi college of art
TONY GIARRATANAGiarratana Development, LLC
THE HONORABLE ERICA GILMOREEx OfficioMetro Council, District 19
WILLIAM GLAUSThe Bank of Nashville
NATE J. GREENEColliers International/Nashville
RONNY L. GREERFrazier and Deeter, LLC
JOHN GUPTONBaker, Donelson, Bearman,
Caldwell & Berkowitz, PC
THE HONORABLE THELMA HARPEREx OfficioState Senator
AUBREY B. HARWELL, IIINeal & Harwell, PLC
WILLIAM HASTINGSHastings Architecture Associates, LLC
SEAN HENRYNashville Predators
CHRIS HOLMESFirstBank
JENNEEN KAUFMANTennessee Titans
KRIS KEMPh3gm
THE VERY REV. TIMOTHY KIMBROUGHChrist Church Cathedral
DR. FRANK LEWISFirst Baptist Nashville
ROBERT C. H. MATHEWS, IIIChairman, CBID BoardThe Mathews Company
ROBERT A. MCCABE, JR.Chair, Resource DevelopmentPinnacle Financial Partners
MARK MCNEELYMcNeely Pigott & Fox Public Relations
DEBORAH MERRELLSunTrust Bank
MATTHEW C. MOOREAmerican Constructors, Inc.
STEPHEN H. PRICEStites & Harbison PLLC
THE HONORABLE MARY PRUITTEx OfficioState Representative
HUGH M. QUEENERPinnacle Financial Partners
BRACKNEY J. REEDGresham, Smith and Partners
CHARLES ROBINRobin Realty Co., LLC
TASHA ROSS
PHIL RYANMetro Development &
Housing Agency
BRENDA SANDERSONChair, Public SpaceBroadway Entertainment
RALPH SCHULZEx OfficioNashville Area Chamber of Commerce
J. RONALD SCOTTJRS Investments Incorporated
GREG SLIGHChair, Business DevelopmentThe Hermitage Hotel
BUTCH SPYRIDONEx OfficioNashville Convention and Visitors Bureau
T. STEPHEN C. TAYLORBass, Berry & Sims PLC
CARRIE BANKS TEAFORDBaptist Hospital
TONY K. THOMPSONFirst Tennessee Bank
JAMES S. TURNER, JR.MarketStreet Enterprises
THOMAS D. TURNEREx OfficioNashville Downtown Partnership
ALAN VALENTINENashville Symphony
JOHN VAN MOLDVL Public Relations & Advertising
RAY WATERSHilton Nashville Downtown
SALLY WILLIAMSRyman Auditorium
MATT WILTSHIREEx OfficioMayor’s Office of Economic
& Community Development
JACK WOODChair, Access & TransportationBarge Waggoner Sumner & Cannon, Inc.
SHIRLEY ZEITLINZeitlin & Company, Realtors
J. MATTHEW KROPLIN2012 Board Intern,
Young Leaders CouncilStites & Harbison PLLC
N A S H V I L L E D OW N T OW N PA RT N E R S H I P2012 BOARD OF DIRECTORS
Downtown Nashville is our campus—conveniently compact and walkablefor residents, employees and visitors alike. Downtown addresses get a“walker’s paradise” rating on www.walkscore.com. It’s an easy walk to
restaurants and coffee shops, business appointments, the grocery store or library,concerts and plays, sporting events, the new river park, and more.
You don’t always need to own a car downtown. Other options include car-sharing(with four WeCar locations downtown) or bike-sharing (Nashville GreenBikes cur-rently, with Nashville B-Cycle, a fee-based 3rd generation bike share program, comingsoon). Also, MTA’s free circulator Music City Circuit links the central business districtwith the adjacent areas including the Nashville Farmers’ Market and The Gulch.Within the next three years, a proposed Bus Rapid Transit System would link moredistant areas to downtown via an 8-mile east-west connector.
Public and private investments continue to transform thriving urban neighborhoodsincluding The Gulch, SoBro and Rolling Mill Hill—each with its own unique character.Retail is flourishing in The Gulch, with new shopping, dining and entertainment ven-ues and the residential inventory is also expanding. Rolling Mill Hill is now home tofour rental developments, with others coming soon. Its renovated Trolley Barns arealready a vibrant center for entrepreneurial businesses and nonprofits.
With the completion of Music City Center in early 2013, development south of Broad-way will accelerate. The SoBro Strategic Master Plan currently being developed willprovide context for this area’s future growth. The downtown core is also beginningto re-define itself—with highly visible streetscape improvements underway on theAvenue of the Arts—5th Avenue North from Church to Union Street. This dynamicarts district will then be easily seen from SoBro—and just a short walk away.
With increased development and density of populations (both residential and busi-ness) in these downtown neighborhoods, connectivity will be even more desirable.Navigating downtown is easier than ever with smart phones and apps. Let’s keepconnecting the dots!
Thomas D. TurnerPRESIDENT AND CEO
L E T ’ S G E T T O G E T H E R D OW N T OW N !
Nashville Downtown Partnersh ip 2012 Annual Reportintroduct ion 3
• The top residential story for 2012 is the record-breaking downtown rental market. Occupancy ofrental units is at an all-time high of 98%, after consistently being over 92% for the past 5 years.
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• The current downtown housing mix is 60% purchase (2,302 condos and 208 single family homes)and 40% rental (1,534 apartment units). Three developments now under construction will add 658rental units by early 2013, and another three planned projects would add 754 more apartments by2014. The new downtown housing mix would then shift to 56% rental, 40% condo and 4% singlefamily homes.
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• Research shows that 75% of Generation Y (age 29 and under) prefer an active urban lifestyle, withits walkability and convenience, and the majority of them are single and renters. The 2012 downtownNashville residential survey showed that 60% are ages 45 and under. The current economy also favorshigh-end renter households for Baby Boomers as they become empty nesters and/or retire.
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• Downtown residential sales averaged 190 per year for 2009, 2010 and 2011. During the first twoquarters of 2012, 114 downtown closings were finalized. Only two developer-owned condos werestill on the market as of September 1, and 53 re-sale units. With a 36-month minimum requiredto plan and complete a project, the downtown for-sale inventory will not expand any sooner thanlate 2015.
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• The 2012 Downtown Residential Survey reported 55% of current residents have a college degree andanother 31% have postgraduate degrees—more than double the percentage for Nashville residentsas a whole.
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• Over 10, 000 people have attended the annual downtown home tours since 2004, with an impact ofover $50 million in sales and leases.
T H E D OW N T OW N R E N T A L M A R K E TT A K E S O F F !
BILL BARKLEY, CHAIR, RESIDENTIAL DEVELOPMENT
Nashv ille Downtown Partnersh ip 2012 Annual Report l ive4
• The Partnership’s Retail Recruiter has made over 800 local and regional retailervisits since January, 2008. During the first eight months of 2012, specific downtownsite options were presented to 20 prospective retailers.
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• A total of 33 new retail businesses opened or announced between January 1 andSeptember 15, 2012. Of these, 16 are food establishments, 12 are shopping optionsand 5 are music and nightlife venues. The total number of downtown retail open-ings in 2011 was 36.
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• The downtown retail strategy developed by Downtown Works identified three keyareas for retail: The Gulch, SoBro and a downtown focus area along 4th and 5thAvenues North. Retail density in The Gulch is increasing rapidly, with 22,000 SF ofnew retail opening YTD—including Bar Louie, King Baby and Lucchese Boot Co. Twonew locally owned restaurants (The Southern Steak & Oyster and Etch) recentlyopened in SoBro, and further SoBro retail development is expected during the nexttwo years with the completion of Music City Center and several new hotels.
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• The growing arts community on 5th Avenue is favorable to distinctive and comple-mentary retail. A major renovation project underway on 5th Avenue betweenChurch and Union streets will bring new sidewalks and streetlights, public art, andsidewalk dining areas. These enhancements will advance retail recruitment to thismajor arts corridor.
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• Downtown Nashville now has 182 dining options, 114 shopping options, 79 nightlifevenues and 20 galleries—with more to come!
K E Y D OW N T OW N R E T A I L A R E A SS H OW G ROW T H
KIRBY DAVIS, CHAIR, RETAIL DEVELOPMENT
Nashv ille Downtown Partnersh ip 2012 Annual Reportreta il 5
• Downtown business recruitment and expansions have been a big story this year. Since relocating to4th and Church in late 2009, ServiceSource is continuing its exponential growth, with more than 600employees now and plans to add hundreds more. With their skyline sign now on the ServiceSourceoffice tower, this company has a dynamic downtown presence, creating new jobs with their energeticyoung corporate culture. In SoBro, Asurion is adding 500 jobs downtown later this year when theyoccupy the LEED Gold certified Ragland Building. Asurion’s building signage at this key SoBro inter-section (2nd Avenue South and Korean Veterans Boulevard) is also highly visible.
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• Other company relocations and expansions added to the synergy of the central business district.Creative Artists Agency moved their Nashville office downtown to SunTrust Plaza. This spring, down-town law firm h3gm moved into their offices at 333 Commerce, the iconic building’s first long-termtenant other than AT&T. Later this year, international law firm Pillsbury Winthrop Shaw Pittman willmove its global operations center and about 150 employees into 44,000 SF at 333 Commerce Street.
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• At Rolling Mill Hill, the renovated Trolley Barns now house a variety of tenants including several entrepreneurial and nonprofit groups, such as the e-mail marketing firm EMMA, the Nashville Entrepreneur Center, Hands on Nashville and the Center for Nonprofit Management.
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• Many downtown businesses are participating in Mayor Karl Dean’s Workplace Challenge, which en-courages a citywide focus on environmental practices, healthy lifestyles and community volunteerism.Downtown office buildings recently participated in free electronics recycling days offered by SimsRecycling Solutions and the Partnership.
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• The Partnership’s annual Downtown Employee Appreciation Week in early October generates en-thusiastic participation in popular events including a Walk with the Mayor, Downtown’s Next Super-star and the highly competitive Corporate Tug of War.
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• During the fourth quarter, the Partnership will update its downtown employee count (expected to beabout 50,000) with a comprehensive Business Census and repeat its annual online Employee Survey.
D OW N T OW N C E L E B R A T E S N E W A N D E X PA N D I N G C OM PA N I E S
GREG SLIGH, CHAIR, BUSINESS DEVELOPMENT
Nashv ille Downtown Partnersh ip 2012 Annual Report work6
• The LP Field park and ride program managed by the Nashville Downtown Partner-ship marked its tenth anniversary on May 1, 2012. Free weekday parking is offeredin designated LP Field lots for registered downtown employees. The Partnershipprovides optional cost-effective shuttle service to downtown office buildings.
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• Almost 15,000 monthly shuttle passes were sold in 2011, with over 1,200 monthlyriders on three downtown routes. During the first eight months of 2012, 9,584monthly passes were sold. With monthly shuttle passes still only $25, employeessave $100 per month on parking expenses—over $1,200 annually.
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• Showing steady growth since beginning on March 15, 2010, BEEP (Best Ever EventParking) is a park and ride option for Bridgestone Arena events. BEEP provides freeparking at LP Field Lot R with optional round trip shuttle service for only $3 per per-son. Over 37,000 vehicles have used this free parking for 255 events, with 66% ofthe 68,409 passengers choosing the shuttle option. This September, BEEP added aroute for Nashville Symphony patrons, making the Lot R park and ride option avail-able for some 96 events of their 2012-2013 season.
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• Car sharing is available, with four WeCars at strategic downtown locations for short-term use. After two years, over 100 members (including businesses, employeesand residents) participate in this cost-effective program.
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• Offering both free recreational rides and a healthy exercise option, Nashville Green-Bikes has over 100 bikes at 9 city parks. Over the past 12 months, Nashville Green-Bikes were checked out 5,000 times; the bikes at the Riverfront Train Stationdowntown were ridden for 3,577 hours.
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• Nashville B-cycle, a new fee-based bike-share system, will include 200 7-speed bikesfor short-term use at 20 automated B-cycle kiosks. Working with the Metro PublicHealth Department, the Nashville Downtown Partnership will implement and man-age this program funded by a Communities Putting Prevention To Work federalgrant. Nashville B-cycle will be operational late this fall.
D OW N T OW N T R A N S I T O P T I O N SA R E E X PA N D I N G
JACK WOOD, CHAIR, ACCESS AND TRANSPORTATION COMMITTEE
Nashv ille Downtown Partnersh ip 2012 Annual Reportgett ing around 7
• The downtown clean and safe teams provide a wide range of services to two Business ImprovementDistricts—one in the central urban area (CBID) and one in The Gulch (GBID). This combined servicearea covers approximately 111 blocks.
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• During the first eight months of 2012, the cleaning staff removed over 60,000 pounds of trash, 4,791square feet of graffiti and power washed 560 block faces and 827 alleys in the urban core district.The incidence of graffiti has increased since last year, and the cleaning team responds quickly toassist property owners affected. This prompt removal of graffiti helps prevent recurrences.
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• 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 GBIDfour nights weekly from 5 p.m. to 11 p.m.
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• Safety Ambassadors also rotate through assignments as Hospitality Ambassadors. Wearing shirtsmarked with the universal symbol for information, they are especially busy during major downtownevents and conventions. As they interact with visitors, the Hospitality Ambassadors distribute guide-books and maps and print out requested directions and coupons to enhance their downtown expe-rience. Their hand-held Eponics devices include a searchable database of downtown businesses andprintable walking directions. Already this year, they have distributed almost 10,000 visitor informationprintouts, more than 2,500 of which were discount coupons from downtown restaurants and shops.
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• An ongoing special project for the clean teams involves litter and weed removal along major down-town access points at highway interchanges. They also enhance downtown’s overall appearancewith their periodic cleaning and repainting of junction boxes, light poles, trash receptacles andtree grates.
R E A C H I N G O U T W I T H D OW N T OW N C L E A N A N D S A F E S E RV I C E S
BRENDA SANDERSON, CHAIR, PUBLIC SPACE COMMITTEE
Nashv ille Downtown Partnersh ip 2012 Annual Report clean & safe8
• Safety Ambassadors (including those assigned as Hospitality Ambassadors) monitordowntown streets and sidewalks. From January through August, they logged 2,284miles on Segways.
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• A successful program initiated in June, 2008, Homeward Bound offers one-way,non-refundable bus tickets to eligible individuals without other resources. Eligibilityis based on confirmation of favorable job prospects, benefits or proximity to family.As of September 1, 2012, a total of 430 individuals (with a past history of 3,385 arrests) have received this relocation assistance. The average cost of a bus ticket isabout $145, with travel destinations to 46 different states.
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• Since July, 2011, a fulltime Social Services Outreach Coordinator has focused onconnecting individuals with high numbers of downtown arrests to needed services(e.g., drug and alcohol treatment programs, mental health services). The “housingfirst” model used has proved very successful, with 3 individuals already transitionedinto permanent housing with wraparound services and outside sources of supportand 7 others currently in transitional housing with services. Several others arepreparing to move into temporary housing and begin working toward more per-manent solutions.
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• These 10 clients had an average of 145 arrests each over the past three years. Theestimated 3-year cost to taxpayers for their arrests $1.45 million for all 10. Arrestsdrop almost to zero once housing is obtained. The annual cost of arrests for each ofthese clients was ten times more than the estimated $5,000 per year for housing.
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• The current budget for this program supports transitional housing for an averageof three clients per month while the Outreach Coordinator assists them in findingpermanent housing and an income source (e.g., SSI/SSDI or employment). A typicalclient requires transitional housing for an average of 6 to 8 months.
Nashv ille Downtown Partnersh ip 2012 Annual Reportclean & safe 9
• For the fifth year, ornamental flower baskets on street lights throughout the high pedestrian areasdowntown create a positive visual impact from May to October.
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• The initial pilot program in 2008 featured 64 baskets on Commerce and Church Streets. This year,447 colorful hanging baskets were in place on eight downtown streets. This current density through-out downtown adds to the perception of an attractive, well-maintained urban center.
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• The Partnership also provides landscaping in the medians on Union Street facing the Metro Court-house. Features include ground cover, self-watering planters with seasonal color plants and Yoshinocherry trees. The planters are changed out each season for year round color.
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• Art continues to be an effective catalyst for revitalization along Fifth Avenue. Two residential devel-opments (Kress Lofts and Art Avenue Lofts) have successful art galleries in their street level retailspaces, and there are 15 galleries on Fifth Avenue North and in The Arcade. The First Saturday ArtCrawls attract over 1,000 people downtown to visit the galleries, and provide an economic boost torestaurants and other businesses.
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• Major streetscape improvements are underway along Fifth Avenue North from Church to UnionStreet. Design features include improved sidewalks, with space for outdoor dining, new streetlightpoles that can accommodate banners, seasonal flower baskets and holiday lights. LED light canopiesstretching across the street will result in a cohesive arts district easily visible from the new conventioncenter. Public art commemorating the civil rights activities that took place on Fifth Avenue Northwill also be added.
F L OW E R S A N D A RT A D D B E A U T Y T O D OW N T OW N
BRENDA SANDERSON, CHAIR, PUBLIC SPACE COMMITTEE
Nashv ille Downtown Partnersh ip 2012 Annual Report attract ive10
• With an average daily attendance of 71,000, the 41st annual CMA Music Festival inJune, 2012, broke all previous attendance records and generated about $35 millionin direct visitor spending for the city. The 2012 two-day fireworks and musical spec-tacular on July 3 and 4, staged at The Lawn at Riverfront for the first time, drew arecord 150,000 people downtown.
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• Live on the Green, a free Thursday evening 6-week concert series at Public Square,had a great lineup of local and national musicians for its 4th season this fall. Crowdsenjoyed live music as well as features including a mobile food court, a craft beergarden, and family-friendly activities. With recent jazz concerts at the CumberlandPark amphitheater, and several events at The Lawn at Riverfront, Music City has avariety of new public venues for live music.
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• The historic Ryman Auditorium was named Theatre of the Year for the second con-secutive year in 2012 by Pollstar. Also for the second consecutive year, BridgestoneArena ranked in Pollstar’s Top 10 for U.S. Concert Attendance.
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• Since 2010, Bridgestone Arena has hosted 15 of the 25 highest grossing NorthAmerican tours. In 2011, both the CMT Music Awards and CMA Awards were atthis venue and in December, 2012, The GRAMMY Nominations Concert Live! on itsstage will put Music City in the national spotlight again.
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• Coming up in 2013, 2015, 2016 and 2018, Bridgestone Arena will host SEC Men’sBasketball Tournament and in 2014, the NCAA Women’s Final Four.
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• The Hermitage Hotel was named one of the Top 100 hotels in the world by Travel+ Leisure magazine in 2012, and was 4th on their list of Best Large City Hotels.
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• The popular First Saturday Art Crawl attracts over 1,000 people each month to strollthrough downtown galleries. The Nashville Downtown Partnership contributes freeshuttle service for the art enthusiasts, and sponsors two performance platformsalong 5th Avenue North during the monthly event. Major street renovations (blockof 5th Avenue North between Church and Union Streets), to be completed in early2013, will add visual appeal to this vibrant arts district.
D OW N T OW N V E N U E S , P A R K S A N D E V E N T S D R AW C R OW D S
Nashville Downtown Partnersh ip 2012 Annual Reportplay 1 1
C OMM U N I C A T I O N S T R A T E G I E ST O R E A C H P E O P L E O N T H E G O
Nashville Downtown Partnersh ip 2012 Annual Report communicat ions12
• Social media options reach an immediate audience with interesting and timely downtown news. The Nashville Downtown Partnership currently has over 20,000 fans on Facebook, a 67% increase since August, 2011. The Partnership’s multiple Twitter accounts reach more than 16,000 followers, a 60% increase since August, 2011.
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• In August, 2010, the Partnership upgraded its interactive website with Geocentric software systems. Designed with many features customized for downtowns, this system has dramatically increased website visits. Since August, 2011, visits towww.nashvilledowntown.com increased by 52% and www.parkitdowntown.com by 13%.
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• A mobile version available at m.nashvilledowntown.com is specifically formatted for on-the-go viewing and searching both web-sites. Mobile traffic currently accounts for 18% of our web visits.
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• A successful first-time ad campaign with Graffiti Indoor Advertising ran from April through September. QR codes posted on theseads resulted in over 2,550 click-throughs to the mobile website (7% of the mobile traffic for these months).
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• An online events calendar features over 700 downtown events each month. The website’s point-location Google mapping featureprovides users with detailed information about downtown destinations, including 182 dining options and 114 places to shop.
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• A primary resource for downtown parking information, www.parkitdowntown.com includes interactive maps, photos of garageentrances, current rates, LP Field park and ride options and special discount offers.
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• The Spring/Summer 2012 edition of The Guidebook broke several records—with more content pages, more than 40,000 copies printed and over $15,000 in ad sales. Published twice each year, copies are distributed to hotels, restaurants, business and residential locations. This comprehensive listing of downtown options in 39 categories is also kept current online atwww.nashvilledowntown.com.
• Each year, Board members and the broader businesscommunity partner with us in downtown economicdevelopment. Since 2006, 74 corporate investors havecommitted over $1,000,000 to implement a variety ofkey initiatives of the Nashville Downtown Partnership.
• This number of investors grows each year, with fournew groups added in 2012.
• Most investors continue participating annually be-cause they believe having a strong downtown econ-
omy is important to the entire region and theyvalue the Partnership’s advocacy for downtownbusinesses and residents. Also, 47% of these in-vestors are represented on the Partnership’s Boardof Directors, investing their time and talents for thegood of downtown Nashville.
• Annual corporate investments have supported acomprehensive downtown retail strategy, down-town street beautification and landscaping proj-ects, upgrades to the Downtown Development
Center, the enhancement of user-friendly interac-tive websites and the expansion of a successfulstreet outreach initiative.
• Other Partnership investment opportunities includeannual membership dues, downtown home toursponsorships, annual meeting sponsorships andguidebook advertising. From this menu of options,investors choose one or more categories that bestcomplement their business goals.
I N V E S T M E N T S A D D U P T O $ 1 , 0 0 0 , 0 0 0 F O R D OW N T OW N I N I T I A T I V E SROBERT A. MCCABE, JR. , CHAIR, RESOURCE DEVELOPMENT COMMITTEE
C O R P O R AT E I N V E S T O R S 2 0 0 7 – S E P T E M B E R , 2 0 1 2
Nashville Downtown Partnersh ip 2012 Annual Reportinvest 13
Ajax Turner Co., Inc.American Constructors, Inc.Amstar GroupAT&TAvenue BankBaker, Donelson, Bearman, Caldwell
& Berkowitz, PCThe Bank of NashvilleBass, Berry & Sims PLCBDO USA, LLPBeaman Automotive GroupBoyle Investments & Northwestern
Life Insurance CompanyBridgestone Americas Holding, Inc.Brasfield & GorrieBristol DevelopmentCapStar BankCaterpillar Financial Products DivisionCentral Parking SystemColliers International/Nashville
Core Development Services, LLCCorner Partnership, LLCCrosland, LLCCVS Caremark CorporationDZL Management Co., LLCEakin PartnersEarl Swensson AssociatesFifth Third BankFirst Tennessee FoundationFirstBankFrazier & Deeter, P.C.GenescoGiarratana Nashville, LLCGobbell Hays PartnersGresham, Smith and PartnersGullett, Sanford, Robinson
& Martin, PLLCHarwell Howard Hyne Gabbert
& Manner, PCHCA/TriStar Health
The Hermitage HotelKPMG LLPKraftCPAs, PLLCLewis, King, Krieg & Waldrop, P.C.MarketStreet EnterprisesMartha and Bronson Ingram FoundationThe Memorial FoundationMetro Development & Housing AgencyMusic City Suites, LLCNashville Electric ServiceNashville Pinnacle, LLCNashville PredatorsNeal & Harwell, PLCNissan North AmericaO’Charley’s Inc.Piedmont Natural GasPinnacle Financial PartnersPremier ParkingRegions BankSherrard & Roe, PLC
SMS HoldingsSSC Service CorporationSt. Thomas HealthThe Stage on Broadway, Inc.
and Legends Corner, Inc.Stites & Harbison, PLLCStrategic Hospitality, LLCSunTrust BankTennessee TitansTower Investments, LLCTuck-Hinton ArchitectsVanderbilt UniversityVanderbilt University Medical CenterVillage Real Estate ServicesWalker Tipps & MaloneWaller Wildhorse SaloonXMi Commercial Real EstateZeitlin and Company, Realtors*Bold type indicates 2012 YTD investors
NASHVILLE DOWNTOWN PARTNERSHIP 2012 RESOURCE ALLOCATION
REVENUES____________________________________
• PROPERTY ASSESSMENTS• EARNED• CONTRIBUTIONS,
SPONSORSHIPS, & MEMBERSHIPS
EXPENDITURES____________________________________
• ACCESS & TRANSPORTATION• PUBLIC SPACE MANAGEMENT• ECONOMIC DEVELOPMENT• ADVOCACY/ADMINISTRATION• IMAGE & COMMUNICATIONS
8%
33%
34%
12%
12%
52%
14%
34%
• Major public investments in the SoBro (south of Broadway) area include MusicCity Center and the extension of Korean Veterans Boulevard from 4th to 8th Av-enue South. On a 19-acre site, the new convention center is the largest capitalconstruction project in the city’s history.
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• Additional nearby development includes the 800-room, 21-story Omni NashvilleHotel, which will connect to an expansion of the Country Music Hall of Fame andMuseum on three levels. The hotel is scheduled to open in November, 2013.The Country Music Hall of Fame and Museum will more than double in size, andits six-floor addition will open in early 2014.
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• The Metro Convention Center Authority and the Nashville Downtown Partner-ship received a $320,000 grant this year from the Economic Development Ad-ministration (U.S. Department of Commerce) to develop a Strategic Master Planfor the burgeoning SoBro area. To be completed in early 2013, this comprehen-
sive plan will include guidelines for compatible, synergistic development in theflood prone areas, as well as for potential future expansion of Music City Center.
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• Residential developers continue to add new downtown rental inventory in response to the strong rental market. Additional hotel development in theSoBro area is also expected. In the central business district, building renovationsand infrastructure improvements are underway, and sales of residential andcommercial properties are indicative of a healthy market.
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• From 1999 through 2012, property owners in the downtown Central Business Improvement District (CBID) have invested over $11 million to supplement cityservices with clean and safe initiatives and to support downtown economic de-velopment. The Nashville Downtown Partnership implements these programs inthe 90-block district.
R E T U R N O N D OW N T OW N I N V E S T M E N T S R E M A I N S S T R O N G
Nashville Downtown Partnersh ip 2012 Annual Report invest14
Tax AuditBusiness Advisory
The world-class expertise you need.The business relationship you deserve.
That’s Frazier & Deeter.
615.259.7600www.frazierdeeter.com
Thank you for your many generous investments –of time, creative ideas and financial resources –
in the revitalization of your downtown neighborhood.
Your enthusiasm and leadership inspire us all to share your vision for making downtown Nashville “the compelling urban center in the Southeast in which to LIVE, WORK, PLAY and INVEST.”
Recipients of the Nashville Downtown Partnership’s
2012 Jeannie R. Hastings Vision Award
CONGRATULATIONS!STEVE AND JUDY TURNER
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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 MUSIC HALL OF
FAME | SCHERMERHORN SYMPHONY CENTER | FRIST ART CENTER | COMMERCE STREET | CHURCH STREET | 2ND
AVENUE | KOREAN VETERANS BOULEVARD | CUMBERL AND RIVER GREENWAY | BIOSOLIDS TREATMENT
FACILIT Y | CUMBERL AND PENTHOUSES | SHELBY STREET PEDESTRIAN BRIDGE | VIRIDIAN | ENCORE
MUSIC CITY CENTER | BICENTENNIAL MALL | HILTON PARKING GARAGE
211 Commerce Street, Suite 600, Nashville, TN 37201 | To learn more, visit www.bargewaggoner.com
Accelerating success.
NASHVILLE www.colliers.com | 300 Broadway | Nashville, TN 37201 | 615 850 2700
Our brokers at Colliers International Nashville are dedicated to providing our clients with top-notch commercial real estate services to help accelerate your company’s success.
Member FDIC. © Fifth Third Bank 2012
FIFTH THIRD BANK PROUDLY SUPPORTS THE NASHVILLE DOWNTOWNPARTNERSHIP
The curious bank.
Whether you’re looking for financial planning, money management tools, or just a little extra time to help make the world a better place, you can count on the support of First Tennessee. We help power your dreams. Even those dreams you hold for others. To learn more, stop by or visit ftb.com.
POWERING YOUR
PROUDLY SUPPORTING THE NASHVILLE DOWNTOWN PARTNERSHIP
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Thank you
N A S H V I L L E D O W N T O W N
P A R T N E R S H I Pfor your contribution to the
success of Downtown Nashville!
greenSTUDIO Sustainability ConsultingH A S T I N G SARCHITECTURE ASSOCIATES, LLC
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Gullett Sanford Robinson & Martin PLLCAttorneys at Law
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STREET | 150 Third Avenue South, Suite 1700, Nashville, TN 37201
PHONE | 615.244.4994WEB | gsrm.com
A great downtown is at the heart of every great community.
Gullett Sanford Robinson & Martin PLLCis proud to support the
Nashville Downtown Partnership, its members, and the
businesses and individuals that make downtown Nashville their home.
www.kraftcpas.com
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
KraftCPAsPLLC
CREATE. ENGAGE. COMMUNICATE.
SMASHVILLE, TN
Bridgestone Arena is home to
Nashville Predators
CMA Awards
CMT Music Awards
2013, 2015, 2016 and 2018 SEC
Men’s Basketball Tournament
2009 and 2011 ACM Venue of the Year
2009 and 2010 IEBA Venue of the Year
8 time Pollstar Arena of the Year Nominee
Thanks to the Nashville Downtown Partnership
for helping make a premier sports
and entertainment destination.
Join the Nashville Downtown Partnership insupporting this outstanding downtown school
in continuing its tradition of excellence.
HUME-FOGGACADEMIC MAGNETH I G H S C H O O L
100 years at the corner of Broadway and 7th Avenue North1,000 students and faculty downtown every day
Ranked 36th on Newsweek’s list of America’s Best High Schools 2012Gold National Ranking 49th, 1st in Tennessee
on U.S. News & World Report‘s list of Best High Schools 2012
2011 National Blue Ribbon School
Kellie M. Hargis, Ed. D.Executive [email protected]
700 BroadwayNashville, TN 37203
ARCHITECTURAL, ENGINEERING AND DESIGN SERVICES
Barge Waggoner Sumner & Cannon, Inc.EDGE Planning, Landscape Architecture
& Graphic DesignEOA Architects PLLCGobbell Hays Partners, Inc.Gresham, Smith & PartnersHastings Architecture Associates, LLCHawkins Partners, Inc.RPM Transportation Consultants, LLCSorci & Swords DesignTuck Hinton Architects
ARTS AND ENTERTAINMENTNashville PredatorsThe Nashville SymphonyRyman AuditoriumTennessee Performing Arts Center
BANKING, FINANCIAL AND ACCOUNTING SERVICES
Avenue BankBank of AmericaThe Bank of NashvilleBDO USA, LLPCapStar BankDGLF CPAs & Business AdvisorsFifth Third BankFirst Tennessee BankFirstBankFrazier and Deeter, LLCJRS Investments Incorporated
KPMGKraftCPAs, PLLCMastrapasqua Asset ManagementNew Business DevelopmentPinnacle Financial PartnersRegions BankSunTrust BankTed Welch Investments
CHURCHESChrist Church CathedralDowntown Presbyterian ChurchFirst Baptist Nashville
CONSTRUCTIONAmerican Constructors, Inc.Bell & Associates Construction, LPSkanska USA Building Inc.Turner Universal Construction
Company
CORPORATE OFFICES AND UNIVERSITIES
Central Parking SystemLoews Hotels Business Services CenterLouisiana-Pacific CorporationStandard ParkingVanderbilt University
HOTELSThe Hermitage HotelHilton Nashville DowntownLoews Hotels Business Services Center
Renaissance Nashville HotelSheraton Nashville DowntownUnion Station Hotel
LEGAL SERVICESBaker Donelson Bearman Caldwell
& Berkowitz, PCBass Berry & Sims PLCDickinson Wright PLLCFrost Brown Todd LLCGullett, Sanford, Robinson
& Martin PLLCHarwell Howard Hyne Gabbert
& Manner, PCManier & HerodNeal & Harwell, PLCSherrard & RoeStites & Harbison PLLCTrauger & TukeTune, Entrekin & White, PCWaller
MEDIAThe TENNESSEAN
METRO GOVERNMENTMetropolitan Nashville Airport AuthorityNashville Convention Center
NON-PROFITS AND ORGANIZATIONS
Cooper for CongressThe DISTRICT Board
State Senator Douglas HenryNashville Convention and Visitors
BureauNational Association of State Boards
of AccountancyTennessee Road Builders Association
PUBLIC RELATIONS AND MARKETING
Destination NashvilleDVL Public Relations & AdvertisingEvent Logistics, Inc.Hall StrategiesKatcher Vaughn & Bailey Public
RelationsMalham Leverage GroupMcNeely Pigott & Fox Public
Relations, LLC
REAL ESTATE BROKERS, DEVELOPERS AND PROPERTY MANAGEMENT
Bristol Development GroupCarell Family, LLCC.B. Ragland CompanyCBREColliers International/NashvilleCook PropertiesCore Development ServicesCorner Partnership, LLCEakin PartnersFirst Management ServicesHoward & Manis Enterprises, LLC
MarketStreet Enterprises LLCMJM Real Estate Investments, LLCOne Nashville PlaceParkway Properties, Inc.The Pinnacle at Symphony PlaceRobin Realty Company LLCTower Investments, LLCVillage Real Estate ServicesVista GermantownWarner Partners, LPXMi Commercial Real EstateZeitlin & Co., Realtors
RETAIL, RESTAURANTS AND ENTERTAINMENT
Dunn Bros. CoffeeFirestone Complete Auto CareHard Rock Café NashvilleJack’s Bar-B-QueLegends CornerPita Pit NashvilleThe Second FiddleThe Stage on BroadwayWildhorse Saloon
SECURITYBlock-by-Block
UTILITIESAT&TNashville Electric ServicePiedmont Natural Gas
2012 NASHVILLE DOWNTOWN PARTNERSHIP MEMBERS
With their annual membership investments, these groups support a strong downtown and participate in the Partnership’s initiatives to advance downtown economic development
615.743-3090www.nashvilledowntown.comwww.parkitdowntown.com150 Fourth Avenue North, Suite G-150Nashville, TN 37219
NASHVILLE DOWNTOWN PARTNERSHIPTo make downtown Nashville the compelling urban centerin the Southeast in which to LIVE, WORK, PLAY and INVEST