February 26, 2008 at 10:45 AM | 0 Comments
While checking out the Hotel Indigo in Nashville a while back, we walked two blocks away and snapped this photo of the sister hotel in the works for ages, InterContinental Nashville. This project was announced with great fanfare several years ago and after a protracted fight over a beautiful historical structure that was eventually razed, it moved forward in '06.
The developer dug a giant hole and...here we are.
Local office workers have started calling it the "West End Avenue Pond" since it seems to be in a permanent state of being filled with green brackish water.
We're expecting some kind of mutant superfrogs to start jumping out in the spring and the urban mosquitoes will find a new heaven.
The timing wasn't too hot, apparently. While Nashville's hotel business is booming, developers aren't happy to just build a hotel these days.
You've got to also have condos going for over half a million apiece and an adjoining office tower to rent out to commercial tenants.
Since the real estate market has gone south, even in this less bubble-prone market, the original projection of a 2010 opening date is looking like just a dream.
by
Tim L.
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