Why Nashville Should Rethink Its Multi-Billion Dollar East Bank Redevelopment Plan

Source: Foundation for Economic Education
by Baker Elkins

“Mayor John Cooper has brave new plans for the development of Nashville’s East Bank. Unfortunately, Cooper’s ambitious vision falls victim to the same problems that plague almost all public works programs. The first issue is funding. In a recent report from Venue Solutions Group, the cost of renovating the stadium alone would rest just shy of $1.8 billion dollars. According to Metro Council Member Bob Mendes, the full 338 acre East Bank Renovation, (the new stadium, parks, affordable housing, etc.) could cost upwards of $3 billion. For reference, Nashville’s 2021 budget was roughly $2.6 billion. So how will this project be paid for? Debt and corporate favors.” (05/11/23)