NASHVILLE, Tenn. (WTVF) — Negotiations for the East Bank development project are well underway and more early plans have been unveiled.
New plans prioritize affordable housing, which has been a big concern for many Nashville families.
The 30-acre initial development zone could cost over $227 million. A presentation by the AdHoc East Bank Committee shows there's going to be a minimum of 1,550 residential units across at least five buildings.
Around 45 percent of those plan to be affordable units, which would be built first.
The level of affordability has yet to be decided, but Metro Chief Development Officer Bob Mendes said he's confident there will be a mix of levels.
Current plans place the Tennessee Performing Arts Center on the plot closest to the Pedestrian Bridge and there will also be a new WeGo mobility hub with affordable housing on top.
The cost sharing between Metro, master developer The Fallon Company and other potential contributors is still under negotiation. Metro hopes to finish negotiations before Nashville's annual budget process begins in May.
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