East Bank development project moving forward [Yahoo! Finance]
PUBLICIS GROUP SA S/ADR (PUBGY)
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Source: Yahoo! Finance
The$147 million estimated infrastructure cost for the initial development area is divided among multiple entities. The Fallon Group is responsible for $72.6 million (49%), the Tennessee Performing Arts Center (TPAC) is responsible for $67.6 million (46%), and Metro is responsible for $6.8 million (5%). PREVIOUS: Metro Council approves East Bank development plans “We're really excited to create a new neighborhood, at the end of the day,” The Fallon Group President Brian Awe said. “There's a lot of opportunity with the parking lots and area around the existing stadium, and with a new stadium coming online, there's a real opportunity for the city to turn that into something productive.” The project includes a variety of residential and commercial buildings, as well as a brand new home for TPAC next to the John Seigenthaler Pedestrian Bridge. According to Awe, the project will take 10 to 15 years to complete. He hopes construction will start on a hotel and a residential project,
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