On Tuesday night, Metro Council voted unanimously to establish an East Bank Development Authority (EBDA) which will oversee work on the city’s East Bank. The state legislature previously approved the EBDA, and work will now begin to seat the new authority.
“I am grateful to our partners at Metro Council and the state who approved the East Bank Development Authority, giving us greater continuity as Metro starts construction on the East Bank,” Mayor Freddie O’Connell said. “The Authority will help us deliver the neighborhoods that Nashvillians envisioned during the robust public engagement period of Imagine East Bank. Those neighborhoods will come with unprecedented commitments in affordable housing, childcare, and complete streets.”
In April, Council passed the development agreement between the city and The Fallon Company, which will start developing the first 30 acres of Metro owned land. The agreement with The Fallon Company lays the foundation for building neighborhoods that prioritize safe and simple multimodal connections by offering alternative modes of transportation for Nashvillians – wide sidewalks for pedestrians, protected and separated bike lanes, and dedicated transit lanes – so residents can decide how they want to move throughout the neighborhood, and subsequently the city, safely and easily.
Mayor O’Connell’s other top community priority was creating an East Bank neighborhood that will be an equitable and affordable space for all Nashvillians. Fallon has agreed to build more than 1,500 housing units with nearly half of the initial units being dedicated at affordable rates – including some deeply affordable. The agreement also requires that the affordability requirements remain in place for the entire 99-year duration of the ground leases, which ensures stable, affordable housing options near jobs and transit for Nashville workers.
