Developer Suspends Nashville Medical Trade Center Project
NASHVILLE, Tenn. – A Dallas-based development company announced plans Thursday to suspend plans for the Nashville Medical Trade Center.
Market Center Management Co. CEO Bill Winsor said in a statement that they did not get enough tenants to continue with the project.
The $250 million medical mart was planned to be built on the site of the city's existing convention center once the Music City Center opened. It was a move that was said to have created 2,700 jobs when it was announced in November 2009.
"Unfortunately, long-term vision was met head-on by the shorter term realities of the sluggish U.S. economy, health care policy uncertainty and the immediate pressures on quarterly revenues that created barriers for many global companies," Winsor said in the statement.
Winsor ended his statement by saying they "hope to have the opportunity to conduct business in Tennessee at a future date."
Mayor Karl Dean issued this statement in response to the announcement:
"A medical mart in a healthcare hub like Nashville made a
lot of sense and was an exciting prospect. While I am disappointed that the
Nashville Medical Trade Center is not moving forward, I understand that the
challenges associated with a down economy made this project difficult. The
convention space remains a desirable piece of property located in a vibrant
area of our downtown. It is a great asset generating a lot of interest, and the
city will put it to good use."