Tennessee Performing Arts Center building faces redevelopment

The Tennessee Performing Arts Center is Nashville's latest cultural institution to face a precarious future.

• The state-owned James K. Polk building, home to TPAC, has accrued $120 million in needed repairs.
• As a result, the state is considering making the building available for a long-term redevelopment deal, the Tennessee Journal reported last week.

Why it matters: TPAC acknowledged the situation in a tweet after other media outlets picked up the original story.

• "(The article) does reflect ongoing discussions with the state, which is supportive of TPAC's nonprofit mission and goals for future growth," the organization wrote.
• The organization also clarified TPAC's leadership is involved in discussions with the state about the building's future.

State of play: The convergence of valuable real estate and artistic institutions has been a familiar tension in Nashville, where music venues have been subject to redevelopment threats.

• In the last year alone, the rock club Exit/In was sold and the operators of the Mercy Lounge complex announced they will be leaving the Cannery Row property.
• Located in the heart of downtown, the Polk building is prime for redevelopment, but it's unclear if TPAC would be part of those plans or be forced to search for a new home.