On Tuesday night, the Metro Council unanimously voted to establish an East Bank Development Authority (EBDA) to oversee the development of Nashville’s East Bank. This move comes after the state legislature had already approved the establishment of the EBDA, allowing for the commencement of work to seat the new authority.
Mayor Freddie O’Connell expressed his gratitude to Metro Council and state partners for their approval. “The Authority will help us deliver the neighborhoods that Nashvillians envisioned during the robust public engagement period of Imagine East Bank,” O’Connell stated. He highlighted the Authority’s role in facilitating commitments to affordable housing, childcare, and complete streets.
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In April, the Council passed a development agreement between the city and The Fallon Company for the first 30 acres of Metro-owned land. The agreement emphasizes the development of neighborhoods that prioritize safe multimodal transportation options, including wide sidewalks for pedestrians, protected bike lanes, and dedicated transit lanes. This aims to provide residents with various safe and convenient transportation choices.
A significant priority for Mayor O’Connell is ensuring the East Bank neighborhood is equitable and affordable. The Fallon Company has committed to building over 1,500 housing units, with nearly half designated as affordable, including some deeply affordable options. The affordability requirements will be maintained for the 99-year duration of the ground leases, ensuring long-term stable housing options near jobs and transit for Nashville workers.
For more information, visit the Application for Incentives page and the Boards and Commissions page.
Source: Read Original Release