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'Tall skinny' takeover: Which Nashville neighborhoods are doubling up after demolition
From his office above a Whole Foods store in upscale Green Hills, John Brittle Jr. and his team of agents target the next affordable Nashville neighborhood for redevelopment.
Brittle, a broker with Parks Realty, is called the “Infill King.” His developer clients rely on him to spot bargain older homes, which they tear down and replace with bigger, more expensive properties.
“For 30 years, real estate agents have been talking about the TSU and Fisk areas,” Brittle said, referring to the neighborhoods surrounding Tennessee State University and Fisk University, two of Nashville's historically black institutions. “We’re going to see some beautiful stuff there.”
Investors and builders have transformed entire neighborhoods in recent years as Nashville’s appetite for homes soared. Countywide, nearly half of all properties with single structures demolished and new construction approved had two or more residential buildings planned for the lot, according to a Tennessean analysis of Metro Nashville permit data.
The familiar scene replays throughout the urban core: Multiple modern, three-story homes replace one-story brick houses. Some derelict homes are demolished and property taxes flow into city coffers. Meanwhile, long-time neighbors live with construction dust, noise, blocked sunlight and changing faces — until they too move, often outside the city.
“Some people don’t like what we do,” said Brittle, who wishes city regulations would allow for denser, less expensive development. “But the fact of the matter is that the market demands this. People are wanting to move into these neighborhoods.”
Metro Nashville issued 962 residential demolition permits in 2015 and 1,035 in 2016 — nearly three houses a day. That rate has cooled off by 10 percent in 2017, but the rapid redevelopment has left many residents wondering what is happening to their city.
The 37209 zip code that includes The Nations and Sylvan Park had the most residential demolitions, with 583 between September 2014 and September 2017. At those properties, 376 had approval for new housing. And on those lots, builders obtained 608 new home permits.
Nashville ZIP codes with most residential demolition permits, Sept. 2014 - Sept. 2017
- 583 permits - 37209 (The Nations/Sylvan Park/Sylvan Heights)
- 383 - 37206 (East Nashville)
- 254 - 37208 (Germantown, North Nashville)
- 251 - 37215 (Green Hills)
Source: Metro Nashville Codes Department data; Tennessean analysis
"You tear down the eyesore and build two nice houses in their place, and raise the property values," said George Lauderback, owner of L & S Construction Services, the company with the most permits to build on lots with recent demolitions.
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- Walkable to the proposed site of the new MLS soccer stadium
- 408 Mallory Street in Nashville's hottest neighborhood, Wedgewood Houston (WEHO)
- 750 sq ft house in poor shape; it could be rented or renovated although it is likely a tear down. Selling strictly AS-IS. Investor special...some foundation issues
- 37X105 lot allowing for a whole host of uses including residential & commercial
- Several $500K new homes being built across street - terrific deal for builder/investor
- House does have new flooring and new paint. Does not have central HVAC but has new window AC's
- House has living room, kitchen, 2 small bedrooms & bathroom
- On a quiet street VERY close to Vandy, Belmont, 12South, & Melrose
- Contact Mike at 615-414-3270 for more info or for a showing
Completely renovated single family home (not attached) & walkable to both Melrose & 12South. New everything - electrical, plumbing, HVAC, duct work. High-end finishes all around with original hardwoods refinished, doors and hardware fully restored. WALK TO BOTH MELROSE & 12SOUTH SHOPPING & RESTAURANTS. 4th bedroom would make a great office, bonus room, media room, etc. A MUST SEE - $764,000.
Contact listing agent, Mark Dunham, for more info. 615.428.1889 or firstname.lastname@example.org
Each year at the end of summer, Post & Co. hosts a client appreciation picnic for our clients and friends. It is our way of saying "thank you" for the support, referrals, and friendship.
There is no talk of buying or selling, no "do you know how much your house is worth?" gimmick or real estate presentation. It is just a party with our friends.
It's always a great time! This year, nearly 200 friends and clients attended our annual picnic at First Tennessee Park. We hope you'll join us next year!
4315 ESTES - 4BR, 3BA, 3800 sq ft - $899K
* New master suite (on main level) with vaulted ceiling, gorgeous master bath with custom made double vanities, separate shower & tub, & custom walk-in closet
* Gourmet kitchen with Carrara marble counters new SS appliances
* Hardwood floors refinished in entire home
* High-end finishings (hardware, mirrors, & light fixtures) from Horchow, Restoration hardware and Iron Gate (all purchased separately....nothing is builder-grade)
* In last 5 years, home has new roof, new garage door, entire exterior of home repainted (just last month), new aluminum fencing & gate, new water heater, all new landscaping
* In-law or teen suite potential in lower level
* Stone's throw from Belle Meade but without the taxes
* Private backyard is flat & fenced
* Over $150K spent in last few years on renovations
Please call or text Mike Post with questions or if you would like to take a look - 615.414.3270
Over 1,600 renovated sq ft on over 4 acres for $189K. Call Mark Dunham (615-428-1889) for more info.
134 town homes priced under $200,000 planned in Antioch
The development arm of Brentwood-based Barlow Builders LLC has paid $1.2 million for 62 acres off Pin Hook Road in Antioch with plans to create 134 lots for new town homes.
Amber Lane Development LLC also has a contract to buy an adjacent site on which existing zoning allows for 84 more town home lots, said Austin Pennington, CEO of homebuilder Barlow Builders.
Site work got underway Thursday on the 62 acres, with Pennington planning to sell the 134 town home sites to Ole South Properties. He also plans to sell the 84 town home lots to that homebuilder upon buying the other site and completing site development.
The build-out cost of the 218 new town homes is estimated at $50 million. The projects would continue development of the Bradburn Village community, where Jimmy E. Allen, who sold the 62 acres, previously built 88 condos on a third of his overall property.
Ole South is still deciding which housing product to design for the other property whose current zoning allows for 84 units to be built, Lewis said.
The properties Amber Lane bought from Allen are mostly on Bradburn Village Circle in the area behind the Publix at Mt. View Marketplace.
"It's an opportunity to provide quality workforce housing in an area within close proximity or a 20-minute drive to downtown Nashville and near quality services such as the Publix," Pennington said.
Elsewhere, Barlow's Amber Lane Development arm is responsible for development of Southern Springs by Del Webb, a 600-home community in Spring Hill. The development company also developed 100 lots at the Reserve at Port Royal subdivision in Spring Hill.
Murfreesboro resident Allen founded and has been the president of La Vergne-based trucking company Venture Express Inc. and co-owns Center Hill Marina & Yacht Club.
Reach Getahn Ward at email@example.com or 615-726-5968 and on Twitter @getahn.
Nashville-area homes sales were essentially flat in June, according to new data from the Greater Nashville Realtors. Prices, however, are close to reaching a new milestone.
There were 3,887 homes sold last month, up 0.4 percent from June 2016.
In a news release, Greater Nashville Realtors President Scott Troxel called the flat sales “no surprise given the current disparity between supply and demand in the market.”
Single-family homes sold in June for a median price of $293,753, up from $260,148 a year ago. Condo units sold for a median price of $199,350, up from $186,495.
The median single-family sales price in Nashville in May of this year was $279,142. If the median sales price goes up by a similar amount during July, that would push it beyond the $300,000 mark. For comparison, Nashville’s median sales price hit $200,000 for the first time in June of 2013.
There were 3,914 properties under contract at the end of June, compared with 3,863 pending sales a year ago. The total inventory of available homes, condos and lots at the end of June stood at 8,842, compared to 9,865 a year ago.
The Nashville-area ended the second quarter with 11,155 closings, up 2.8 percent from a year ago, making it the strongest second-quarter on record for the market.
“The last time our market performed this well in the second quarter was 2006, with 11,046 closings,” Troxel said. “We’re a few units short of being ahead of midyear 2006, but with half a year left for sales, I suspect we’ll come close to the 2006 record of more than 40,000 annual closings.”