10:53am

Thu August 22, 2013
Business

$700 Million Franklin Project Announced, VUMC Project Stalls

Credit ovationcoolsprings.com/

MURFREESBORO, Tenn. (WMOT)  --  A major new commercial development in Franklin was announced this week, while the start of a second large project for the area is being pushed back.

Developers Highwoods Properties and SouthStar llc announced plans on Tuesday for a mixed-use development they’re calling Ovation to be built in the Cool Springs area .

According to development officials, the project will include 1.4 million square feet of new office space on roughly 150 acres south of the Nissan headquarters along Interstate 65.

Jeremiah Pyron, Director for Economic Development, says Franklin has never seen anything like this before.

“It’s going to be high-end retail, you’re going to have apartments, hotel and office space as well…one, large, walkable community that provides a lot of amenities for people to live, work and play there.”

Pyron says Ovation construction should begin in 2014.

However, a second large project for the Cool Springs area has stalled. The Tennessean reported Thursday that Vanderbilt University Medical Center is pushing back its timeline for a massive new medical complex in Franklin.