Metro officials present Imagine East Bank implementation plan and 99-year master lease with Fallon Company; TAC MOU introduced

Metro Nashville officials on a council committee call presented the Imagine East Bank implementation plan and described a proposed 99-year master ground lease with Fallon Company to govern the initial 30-acre development area on the East Bank, while introducing a separate, nonbinding 35-year memorandum of understanding with TAC for a cultural use on parcel E.

Anna Grier of Metro’s planning department said the Imagine East Bank vision — adopted “on October 6th of 2022” — grew from more than 21 months of community engagement and centers four priorities: equity and affordability, mobility, resiliency and neighborhood-building. Grier briefed the committee on the selection of Fallon Company after an eight-month RFQ process to negotiate a master development agreement for the initial 30-acre site across the river from downtown.

Bob Mendes, chief development officer in the mayor’s office, described the draft master plan and sequencing: Fallon will begin development on parcels nearest the football stadium and work toward the river while a separate partner, TAC, would develop parcel E. Mendes said the development documents require continuous temporary access to the pedestrian bridge during construction and include language intended to prevent any private party from permanently…