Nashville Metro is now considering purchasing land for a new downtown convention center. The addition of a convention center would bring conventions and economic development to the area….
The proposed 15.6-acre convention center would be developed on land south of Broadway, surrounded by 5th and 8th Avenues, Demonbreun Street and Korean War Veterans Memorial Blvd.
The cost of the land acquisition is yet to be determined, as real estate prices are moving “all over the place”. Mayor Karl Dean and the Metro Development and Housing Agency (MDHA) will present on April 13th to the Metro Council. It is estimated that property acquisition will cost $40 million, and construction and relocation will cost about $10 million, which equals out to $50-$60 per square foot.
Other issues to be addressed at the meeting are the businesses that would be required to move out of the area. The businesses that would be relocated include Rocketown, the Musicians Hall of Fame and Museum and the Greyhound bus terminal.
If approved, construction would begin in the summer…..
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