VOL. 47 | NO. 8 | Friday, February 17, 2023
Tennessee looms large on ‘worst bottlenecks’ list
The American Transportation Research Institute released its 12th annual list highlighting the most congested bottlenecks for trucks in America, and the state of Tennessee placed seven locations on the list, including one in the top 10.
The 2023 Top Truck Bottleneck List measures the level of truck-involved congestion at over 300 locations on the national highway system. The analysis, based on an extensive database of freight truck GPS data, uses several customized software applications and analysis methods, along with terabytes of data from trucking operations to produce a congestion impact ranking for each location.
The seven Tennessee bottlenecks are:
• No. 9 Nashville: I-24/I-40 at I-440 (East)
• No. 37 Nashville: I-40 at I-65 (East)
• No. 39 Chattanooga: I-24 at U.S. 27
• No. 51 Nashville: I-65 at I-24
• No. 59 Chattanooga: I-75 at I-24
• No. 63 Knoxville: I-40/I-75 at I-140
• No. 72 Knoxville: I-40 at I-275
“The past year-plus has shone a spotlight on our supply chains, and how congestion and other pressures can hurt the American economy and consumers,” says American Trucking Associations president and CEO Chris Spear. “ATRI’s bottleneck report highlights the areas of our transportation network in need of investment so we can get goods and people moving. The cost of doing nothing is felt in needless delays, wasted fuel and time.”
Belmont, Fisk team on social justice initiative
Belmont University and Fisk University announced the Fisk-Belmont Social Justice Collaborative, a partnership between the universities designed to cultivate champions for social justice through exposure to civil rights and social justice movements throughout Middle Tennessee.
The collaborative is funded by the Rechter Family Foundation and was created to educate students and amplify the power of their leadership with joint projects and exposure over a five-year period.
The fostering and advancement of social justice through this partnership directly supports both Belmont’s and Fisk’s strategic trajectories. “Our commitment to reweaving the social fabric through hope and inclusive excellence begins with a thorough and thoughtful examination of the past, reflecting on areas where imbalance and inequality have persisted,” says Susan West, executive vice president for administration, chief of staff and chair of Belmont’s Diversity Council.
Fisk provost Robert Carr says, “Fisk University students were in the forefront of the Civil Rights Movement, and this collaboration aligns perfectly with Fisk’s Strategic Plan to provide student experiences both inside and outside the classroom, that will transform the students and society.”
Among other student opportunities, Belmont journalism professor Sybril Brown, and Fisk associate professor and chair of behavioral sciences Rolande Dathis, have created a new course where students will create various projects including an e-book, commemorative website, video vignettes and a pop-up museum digital experience. There are 25 students enrolled in the respective courses.
Mortgages getting less house but getting better
Homebuyers’ mortgage payments have started stretching a bit further in recent months, a new Zillow analysis shows.
As mortgage rates doubled last year, the home price afforded by a $3,000 payment plummeted from $865,000 in January to a low of $560,000 in October. That significantly changed the size and price of homes within a buyer’s reach.
On average, a $3,000 monthly mortgage payment today buys a home 140 square feet smaller than a home purchased a year ago. In Nashville, the year-over-year loss was 370 square feet.
But as rates have dropped from a peak just above 7%, buyers are getting larger homes, with higher price tags, at a fixed monthly cost. The typical home value associated with a $3,000 mortgage payment is up about $60,000 since October and home size has recovered by 84 square feet, with the average Nashville buyer recovering 194 square feet.
The annual decline is more pronounced in some markets. Hartford, Connecticut saw the largest drop in what $3,000 per month can buy in 2022, losing 1,200 square feet. Buyers in Indianapolis, Indiana and Cleveland, Ohio both lost out on more than 1,000 square feet in the last year. Cleveland and Kansas City, Missouri are among the top 10 metros for home size at this price point and are among Zillow’s 10 hottest markets for 2023.
Craft brewers launch Tennessee Ale Trail
The Tennessee Craft Brewers Guild has officially launched the Tennessee Ale Trail, a mobile pass that gathers points for each brewery check in.
More than 60 Guild members are participating in this free digital passport program in an effort to encourage visitors and residents to explore Tennessee’s craft breweries and support local businesses. Many of these breweries also work with local farmers and include local ingredients in their brews.
Craft beer fans can access the trail ‘passport’ using a mobile website and accrue points as they taste their way across the state at participating breweries. After earning enough points, beer lovers can redeem points for prizes, including stickers, hats, T-shirts and more.
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New Tesla flagship store marked for Cool Springs
Tesla Motors will open a flagship store in the Cool Springs area later this year at 300 Shingle Way, a 57,447 square foot building owned by TriOut Advisory Group.
The new location will house a vehicle gallery, service center and Superchargers.
The property was acquired by TriOut Advisory Group in late 2019 and is a single-story free-standing building built in 2006 on a seven-acre lot currently surrounded by Mercedes, Infinity and Hyundai dealerships.
Tennessee ranked among worst states for aging
The 2022 Healthy Aging Index, a measure of life quality performed by digital health company DoFasting, ranks Tennessee 44th out of 50 states.
The state hangs back from Oklahoma and New Mexico due to high numbers of diabetes cases, high levels of crime and lack of regular exercise among state residents, the study reveals.
Th e report analyzes five fundamental pillars of healthspan: demographics, economics, behavioral aspects, health care and mental health. Underpinning these pillars are 25 indicators – 5 per pillar – that are interrelated and work together to provide an overall measure of healthy aging across the 50 US states.
Tennessee ranked low in terms of high levels of crime (0.9 out of 4 points), high numbers of diabetes cases (0.7 out of 4 points) and lack of regular exercise (0.1 out of 4 points).
Capital Stewardship, Knox McLean Self merge
Capital Stewardship Partners and Knox McLean Self Wealth Management have announced their merger. The combined business will go to market as Capital Stewardship Partners and be led by partners Mike Mayernick, David Knox, David Teague, Matt McLean and Matt Self.
The combination of Capital Stewardship Partners and Knox McLean Self Wealth Management creates more resources to support business growth initiatives and increasing client referrals. The two firms, part of the Northwestern Mutual network, share a similar philosophy regarding exceptional client service and a deep commitment to helping clients achieve their financial goals through a personalized wealth management strategy.
TSU installs new solar charging stations
Tennessee State University students can now enjoy the outdoors and charge their personal electronics at the same time thanks to three solar-powered charging stations that have been installed on campus.
Two of the stations are located outside of the New Residences Hall while the third station is located at the Gentry Center Complex. The university said solar charging stations play an essential role in promoting sustainability and providing access to clean renewable energy.
Saniya Granberry, a freshman who lives in the New Residence Hall, says she is excited about the solar-powered seating areas as this addition will continue to build a sense of community. “These stations can benefit the campus by allowing students to interact with one another while charging their phones instead of having to go to their room,” Granberry says.
Captain D’s building 7 new locations in first half
On the heels of multiple restaurant openings in the last quarter of 2022, Captain D’s announced it has an impressive slate of new locations and development agreements underway in the first half of 2023.
The nation’s leading fast casual seafood restaurant currently has seven restaurants slated to debut early this year and has already signed a development agreement with a new franchisee in Cleveland, Ohio.
The brand’s growth is propelled by market-smart real estate prototypes, including highly efficient double drive-thrus, smaller footprints and cost-effective conversion opportunities. These flexible options are attracting both new and existing multiunit and multi-concept franchisees who are growing with Captain D’s throughout the South, Midwest and mid-Atlantic states.
Openings in the last few months of 2022 included new restaurants in Gulfport, Mississippi, Fort Worth and Humble, Texas, and Columbus, Ohio, which marked a second Express opening for the brand. Express is Captain D’s 960-square foot prototype with a drive-thru and walk-up window but no dining room. It debuted earlier last year in the Atlanta market with a streamlined selection of core menu items and a kitchen design that assists with quicker cook times and a faster drive-thru.
Chartwell, Southstar start Aureum build
Chartwell Hospitality, in a joint venture with co-developer Southstar, broke ground on their $500 million Aureum Project. Aureum is a 22-acre mixed-use project that will offer residents unique living, working and entertainment options in one premier location known as the “Golden Corner” of Franklin.
Aureum’s first phase will consist of 355 residential units for sale and rent which Chartwell Residential will develop. The development will include office space, retail, and entertainment venues, along with two hotels to be developed by Chartwell Hospitality. In addition, Aureum will offer more than 5 acres of open space designated for parks, biking and walking trails.
The project sits at the southwest corner of Carothers Parkway and McEwen Drive. The mixed-use project will reach 12 stories containing housing, commercial office space and entertainment venues.