Nashville is one step closer to building a new convention center, according to local newspaper
The Tennessean, as the Nashville city council last week voted in favor of a bill that would allow the city to borrow $75 million to purchase 15.87 acres of downtown land on which to build the proposed new Music City Convention Center.
The vote was the second of three required votes; the third, scheduled for next week, is also expected to end in favor of the land acquisition.
"Tonight we stand on the brink of progress and moving forward," Councilman Sam Coleman said before the vote, according to
The Tennessean.
Supporters of the estimated $635 million Music City Convention Center—which will have 1.2 million square feet of space—argue that land must be purchased this summer in order to keep the project on schedule, with a targeted opening of 2013.
Critics of the project, however, worry that it will cost the city money it doesn't have and won't be able to collect as a result of the economy. Buying land, they argue, is premature for a project that doesn't yet have a final price tag.
Already, Nashville has spent $9 million in tourism taxes on the predevelopment phase of the project, which will also include a public/private hotel. A final cost estimate isn't expected for another six months.
For more information about the Music City Convention Center, including project updates, visit
www.nashvillemusiccitycenter.com.