TPAC footing large part of East Bank bill
NASHVILLE, Tenn. (WKRN) – Nashville took another big step into the future as Metro Council gave final approval to a massive development plan for the East Bank of the Cumberland River.
The move secures plans to transform about 30 acres of land around the cornerstone of the development, the new $2.1 billion Nissan Stadium.
Also included is a new home for the Tennessee Performing Arts Center (TPAC).
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The development company working with Metro, The Fallon Company, isn’t responsible for building a new TPAC; TPAC will handle that themselves and they’ll foot a large part of the bill.
“This is going to be the postcard shot,” Metro councilmember Jacob Kupin said. “The view of our city and a beautiful performance art center in the view of our Broadway scene.”
Metro will lease TPAC a portion of the 30 acres it gets in the East Bank development deal. Right now, that land is mostly parking lots.
Affordability formula for new East Bank: Ban short-term rentals, add thousands of affordable units
“We’re going to have hotel, retail, and residential affordability as part of the core of the city,” Kupin said. “We’re going to have daycares as part of that project, too.”
Metro Council said TPAC will be responsible for funding a big portion of a redesigned extension to the pedestrian bridge.
Crews broke ground on the project at the end of February.
“It’s going to generate jobs, residence, taxes, and overall it’s a really exciting deal,” Kupin said.
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Kupin said this will also be great for families who want to explore more than just Broadway.
TPAC has about two and a half years to move out of its current building downtown.
Kupin said the East Bank development is a decade long project.
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