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Convention Center Authority Approves MOU for Redevelopment of the NCC
CONVENTION CENTER AUTHORITY APPROVES MOU FOR REDEVELOPMENT OF THE NCC
FOR IMMEDIATE RELEASE
January 9, 2014
NASHVILLE, Tenn. - The Convention Center Authority approved a memorandum of understanding this morning naming Spectrum/Emery Development as the exclusive master developer of the Nashville Convention Center. The planned development will include a 1,800 car parking garage, 52,600 square feet of space for the National Museum of African American Music, 244,400 square feet of retail and entertainment space, and up to 840,000 square feet of Class A office space.
The Authority also announced that the Music City Center generated over $47 million in economic impact in the first and second quarter of the fiscal year 2014. Since the beginning of July, the Music City Center hosted 212 events with 142,236 attendees. These events generated 47,231 room nights for a total of $47.23 million in economic impact. Most recently, there were 36 events in December with 12,724 attendees and 4,401 room nights for a total of $3.6 million in economic impact. Tax collections continue to outperform projections and the Music City Center portion of tax collections was up 17.93 percent year over year for October 2013.
"We are very happy with our first and second quarter numbers and our team has done a great job keeping things running smoothly in our first few months of operation," said Charles Starks, President/CEO of the Music City Center. "We feel like we are right on track and are very excited about what 2014 will bring."
The Music City Center is off to a strong start in 2014 with Archery Trade Association's 2014 Trade Show bringing 8,000 people to the city this week. This event will be directly followed by American Bus Association's Marketplace 2014, which has an estimated attendance of 3,500.