For many Middle Tennesseans, Rivergate Mall was more than a shopping center. It was where families spent weekends, teenagers hung out with friends and shoppers found everything they needed under one roof. While it’s sad to see such a familiar landmark disappear, the redevelopment of the property may ultimately be one of the most important real estate projects in the region.
According to reports, the former Rivergate Mall site has been purchased by a Cincinnati-based developer, who plans to invest more than $450 million into transforming the property into a mixed-use community. Plans currently include approximately 700 multifamily units, 100 townhomes, senior living residences, retail space, restaurants, hotels, office space, green space and a central gathering area.
From a real estate perspective, this project is exciting because it reflects where the market is headed. Today’s buyers and renters want more than just a place to live. They want convenience. They want dining, shopping, entertainment and services nearby. Developments that combine these elements into one walkable destination are becoming increasingly popular across Middle Tennessee…