CLARKSVILLE, TN (CLARKSVILLE NOW) – Whether you travel to conventions for work or pleasure, that commute may soon be a little shorter thanks to recent efforts by the Clarksville-Montgomery County Industrial Development Board (IDB).
On Wednesday, the IDB entered into a 12-month option agreement with Florida-based E2L Real Estate Solutions for the development of a 69-acre business park in Clarksville, called “Project Rosebud.” The site is located just northeast of Tennova Healthcare in the Industrial Business Park and will feature a long-awaited hotel and convention center.
The land was previously purchased by the county and handed over to the IDB with the promise that it would feature a hotel and convention center. Such a center could host events such as military balls from Fort Campbell, high school proms, business conventions connected to the industrial park, and spillover convention needs from Nashville.
“The county gave the IDB the authority to manage and develop this property. The only stipulation per the ordinance that bought the land was that we have the authority to gift up to 15 acres to meet that purpose,” said Buck Dellinger, president and CEO of the Clarksville-Montgomery County Economic Development Council, on Wednesday.
The IDB is currently looking to sell the remaining 54 acres or more at $500,000 per acre; however, that could change based on negotiations after the land appraisal.
Managers with E2L, who would serve as the master developers of the project, were present at the meeting and explained they would be committed to selecting the right companies for Clarksville.
“When Buck said we’d like to have an office park here, that’s our intent. We would go global with the reach out to bring the right companies here,” said Mark Hefferin, president and partner at E2L.
Currently, the land is under several deed restrictions, so the option will give the developer time to know what can be built on the site and if certain restrictions can be lifted.
“I believe it will happen much sooner than 12 months,” Hefferin told the board.
Dellinger added that despite the restrictions, office space can still be built, but ongoing conversations will give the IDB and developers ideas for what else can be built within and around the business park.