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The Metro Council on Tuesday unanimously approved the economic impact plan for the planned Oracle tech campus and surrounding River North infrastructure, including an extension of Cleveland Street that will allow vehicular, bike and pedestrian connectivity between River North and East Nashville. Projected to cost $1.2 billion, the Oracle development and public infrastructure could bring up to 1.2 million square feet of office space to the Cumberland Riverâs East Bank. For that, the Silicon Valley corporation has committed to a $175 million investment recreational spaces, streets, stormwater management and a bike and pedestrian bridge connecting River North to Germantown. âTodayâs Oracle vote demonstrates Metroâs commitment to make the right deals for Nashville,â Mayor John Cooper said when the 40-0 resolution vote passed. ....
May 4, 2021 Metro Council unanimously approved a $175 million economic incentive for tech giant Oracle to build a campus on the east bank of the Cumberland River, bringing to fruition a project years in the making. Subscribe The Oracle project will bring 8,500 jobs with an average annual salary of $110,000. The company is committing to $1.2 billion in capital investment. The project was approved despite 11th hour criticisms from Nashville s progressive community, which said the arrival of Oracle will trigger more gentrification in the surrounding community and stress the city s existing affordable housing problem. Subscribe Mayor John Cooper said passage of the Oracle deal will help kick off Nashville s next decade of prosperity. The Oracle deal is believed to be the largest economic development project in Tennessee s history in terms of jobs. ....
Metro Nashvilleâs Industrial Development Board on Tuesday approved the economic impact plan for River North infrastructure, which is built around Oracleâs future tech campus and public infrastructure. The IDB approved both the impact plan and the project agreement (both by a 6-2 vote) as a resolution to be sent to the Metro Council for consideration. The matter will see further consideration from the Metro Planning Department as well. The California tech giant has offered to fund (and then be reimbursed for) $175 million for public infrastructure updates at the site, which eventually could accommodate multiple office buildings with up to, collectively, 1.2 million square feet overlooking the Cumberland River. The development could carry a price tag of $1.2 billion (read more ....
April 27, 2021 The Metro Nashville Industrial Development Board approved the $175 million economic development plan for tech giant Oracle to build a corporate campus on the east bank of the Cumberland River despite 11th hour objections from the city s political left flank. Find out what s happening in Nashville with free, real-time updates from Patch. Let s go! The vote was 7-2 after over four hours of consideration including more than two hours of comments from members of the public. The approval puts the project on the brink of fruition. It will be considered by the Metro Council next week. Find out what s happening in Nashville with free, real-time updates from Patch. ....