New Exit/In owners pitch preservation plan

AJ Capital Partners announced its intention to protect Exit/In after buying the rock club earlier this year and has now officially submitted its application for historic preservation protections for the 50-year-old venue, per the Nashville Post.

Why it matters: The fate of Exit/In has been the subject of intense interest since its owners sold the building and its bar next door to AJ Capital, known for developing the Graduate Hotels chain.

• Longtime operators Chris Cobb and Telisha Cobb initially failed to buy the property, then started a GoFundMe campaign to raise over $200,000 in donations in hopes of convincing AJ Capital to sell.
• The historic protections make major changes to the Exit/In building nearly impossible.

The latest: Exit/In is celebrating its 50th anniversary with a slate of concerts by noted artists who have played there over the years.

• Jimmy Buffett, who famously played the first-ever show at Exit/In, performed an intimate gig there earlier this year.
• The club also recently announced concerts headlined by vital Nashville artists such as JEFF the Brotherhood and Rodney Crowell.

Yes, but: The sale of Exit/In has generated broader questions for Nashville's live music ecosystem. There are fewer and fewer independently owned and operated music venues in Nashville, as major companies such as Live Nation and AEG expand their local footprint.

• AJ Capital, which did not respond Tuesday to a request for comment, has not revealed its plans for operating the club after the Cobbs' lease expires.

What's next: The preservation proposal needs approval from the Metro Historic Zoning Commission and the Metro Planning Commission.