Development Updates in Nashville:
As we enter 2023, a number of upcoming projects promise to radically transform Nashville’s skyline, job market, and overall economy. Several new developments along the city’s East Bank aim to convert currently unused land into one of the city’s most economically and culturally vibrant areas. In addition, the new Tennessee Titans football stadium and several master-planned mixed-use developments will bring housing, entertainment, and jobs to the area.
East Bank Mixed-Use Project
Massachusetts-based developer, The RMR Group recently released renderings for an 18-acre mixed-use community development on Nashville’s East Bank. The developers describe their vision as an “urban experience” that will bring offices, hotels, apartments, and 225,000 square feet of retail space to the area. The project will transform South 1st Street and Main Street, currently home to a truck stop.
New Oracle Campus
Tech giant, Oracle, is also making noise on the East Bank with the upcoming construction of a new campus, expected to cost around $1.35 billion and cover more than 65 acres of land. The project will attract an estimated 8,500 relocated workers to the area, significantly boosting Nashville’s economy and making it the largest labor deal in Tennessee history. Oracle has hired several engineering and consulting firms for the project but has not officially selected a construction company.
Tanger Outlets and Century Farms
Tanger Outlets recently broke ground on a 32-acre shopping center that will be the latest addition to the Century Farms development. After many COVID-19-induced project delays, developers are happy to see progress being made on the shopping center. The Tanger Outlets project will join CHS offices, a free-standing ER, and several apartment complexes that have already been constructed. The Tanger outlets will include 290,000 square feet of retail and restaurant space and will be home to 70 retailers. It will also bring new jobs to Nashville, including 700 construction jobs and 1,100 permanent jobs after opening. The outlets are expected to open in the fall of 2023.
Tag(s):
Tennessee Digest