$147 Million East Bank Master Developer Agreement Approved, Includes Historic Commitments to Affordable Housing 

NASHVILLE, TN: Tonight, the Metro Council unanimously approved the Master Developer Agreement between Metro Nashville Government and The Fallon Company to develop 30 acres of Metro-owned land on the East Bank.& The agreement allows Metro and Fallon to bring to life the Imagine East Bank Vision Plan, which was developed by the Nashville Planning Department after two years of deep community engagement to create a vibrant, mixed-income, multimodal community adjacent to Nashville’s downtown – an economic engine for the city and state.  East Bank Initial Development Area (IDA) By the Numbers:& $147 million: Estimated infrastructure cost for the Initial Development Area $72.6 million: Fallon’s share of the infrastructure cost (49%)  $67.6 million: TPAC’s share of the infrastructure cost (46%)  $6.8 million: Metro’s share of the infrastructure cost (5%)  1,550: Number of total residential units to be built by Fallon 695: Number of residential units that are affordable (80% Area Median Income (AMI) and below)  30: Acres of Metro-owned land to be developed by The Fallon Company in the Initial Development Area (IDA) 130: Acres of land on the East Bank owned by Metro   550: Acres of public and private land on the East Bank  “Nashvillians told us they wanted great...