November 30, 2022


Home living innovation

Metro Council approves $44M Global Mall purchase despite reservations


A new conference was held at the Global Mall at the Crossing in Antioch, Tenn., to announce that Metro Nashville is partnering Vanderbilt University Medical Center to transform the Mall into a hybrid medical and community hub, Wednesday, March 23, 2022.

Nashville can now go ahead with the city’s plan to purchase Antioch’s derelict Hickory Hollow Shopping mall and transform the residence into a group hub and medical heart.

Metro Council voted 28-3 with four abstentions Tuesday to approve agreements enabling the town to obtain two portions of the site for a blended $44 million. The council also permitted up to $46 million in common obligation bonds to address the purchase and a $2 million contingency.

But guidance for the offer was far from unanimous. 

Many council customers who abstained or voted from the offer cited incomplete expense estimates for the project’s full establish and the absence of a legally binding arrangement with Vanderbilt College Health-related Center, which has fully commited to rent a part of the web site less than a lease that has yet to be negotiated.


Source link