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Council hears developer pitch for Medical Center Parkway site; staff to finalize purchase-and-sale terms
Summary
Council reviewed a proposed purchase-and-sale for 8.62 acres of city-owned property on Medical Center Parkway and heard a developer outline plans for event venues, leased space and a rooftop restaurant; staff said the city will finalize terms and take the project through design review and Gateway Commission.
Murfreesboro City Council on Dec. 11 reviewed a proposed purchase-and-sale agreement for an 8.62-acre portion of a 20.13-acre city-owned tract on Medical Center Parkway and heard a developer describe plans for event venues and mixed-use space. Staff described the proposed sale price as $6 per square foot, presented in the meeting materials as a $22,250,000 purchase price.
City staff said the parcel is on the back portion of a larger property and that the developer has requested building-permit readiness before closing. The agreement will include timing provisions and repurchase (buyback) rights similar to those used in previous city projects.
"We do roughly about 300 events a year," said Sean…
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