O'Connell, TPAC near deal for new East Bank facility, sources say
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TPAC at the Polk building in 2017. Photo: Rick Diamond/Getty Images for K-Squared Entertainment
Nashville Mayor Freddie O'Connell's team and the Tennessee Performing Arts Center are close to an agreement to build a new arts facility on the East Bank of the Cumberland River.
- An announcement is coming soon, multiple sources aware of the negotiations tell Axios.
Why it matters: The deal, which needs approval from the Metro Council, would place a performing arts hub in the midst of the riverfront district surrounding the new Titans stadium.
- Details of the agreement, including how to divide associated infrastructure costs, are not immediately clear.
Friction point: TPAC needed a new facility because the state is moving forward with redevelopment plans at the Polk Building, where the arts center currently is.
- TPAC hosts musicals, concerts and an array of educational events for students.
- City leaders view the inclusion of a new TPAC building on the East Bank as a positive for the riverfront redevelopment plan, because the facility is used primarily by Middle Tennessee residents.
The intrigue: Time is of the essence because the existing memorandum of understanding sets a Dec. 31 deadline for TPAC and the city to reach a deal before the prime piece of real estate reverts to the Fallon Company, the East Bank developer.
- The negotiation centered around how to pay for infrastructure associated with the project.
- O'Connell told Axios last month that deadlines spur actions and he was hopeful an agreement could be reached soon.
Flashback: The state committed $500 million toward the project, and the plan was for TPAC to raise $100 million.
- According to a 2024 presentation to council, TPAC was on the hook for over $30 million in infrastructure costs, including work related to the pedestrian bridge. TPAC would not buy the 3.3-acre parcel from the city and would be charged just $100 annually in rent.
- Negotiations had grown contentious over the last year. At one point, TPAC leaders told their board of directors they had to ponder alternate sites for a new facility.
Inside the room: State House Speaker Cameron Sexton pushed Metro leaders to work with TPAC and reach an agreement.
- Former O'Connell aide Bob Mendes, who left his role last week, was not part of the TPAC negotiations recently, according to the sources, who were not authorized to speak on the record. Finance director Jenneen Reed and new chief of staff Masami Tyson played leading roles in the recent talks.
- "We are still working through several unresolved issues, but remain hopeful a deal can be reached in the near future," O'Connell spokesperson Alex Apple says.
What we're watching: Since Council must approve a new agreement, a key question will be whether TPAC's infrastructure obligations are less than what was described by the O'Connell administration last year.
- Sexton has been a thorn in the side of Metro. If the TPAC project advances, it will be interesting to note how it affects Sexton's critiques of the city.
Editor's note: This story was updated with a comment from O'Connell's office.