MADISON, Tenn. (WKRN) — When the mixed-use development planned for the Rivergate Mall site begins, the Madison and Goodlettsville area will see a significant economic impact — to the tune of nearly $100 million in annual earnings and millions more in tax revenue once completed.
Metro Nashville Director of Development Chris Koster told News 2 the project will help “revitalize” the Madison and Rivergate area of Nashville, a section of Davidson County that has needed the spark of inspiration for a while.
“Over time, when you see deteriorating malls, you get what you would call ‘blight’ in the area, and that starts to impact the area in and around the mall itself, so [we get] the chance to revitalize this and create an urban, mixed-use environment in that area [that] brings jobs, retail and restaurant amenities to the community, [and] really have a chance for people to fall back in love with that area and drive a lot of residual economic development in and around the area is a real contribution to Nashville over time,” Koster said. “We have an opportunity here for a small, proportional investment in the public infrastructure, from Metro’s perspective, to assist the private sector, in this case, to revitalize an area of Madison on behalf of taxpayers, but really to bring love to the area back.”
PREVIOUS COVERAGE | Rivergate Mall on track to see major redevelopment
The conceptual site plan includes a number of components, such as multifamily housing, townhomes for sale, senior housing, retail, restaurant, sports and entertainment facilities, medical offices, general offices and hotels. The goal will be an “integrated mixed-use community” that will “promote significant economic development,” according to Metro documents…