Clarksville, TN

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Two Rivers Company

New downtown apartments, retail pitched by TRC

The Two Rivers Company will soon be in the “hunt” for a developer to build a proposed “Clarksville Downtown Commons” that could include nearly 130 apartments and several businesses.

TRC’s Planning and Development Committee unveiled conceptual plans Friday for a mixed use development that would be located at North 3rd Street and Main Street near the new Civic Plaza under construction.

The plans are part of an ongoing effort to revitalize the area and stimulate economic growth. TRC is collaborating with the county and others but the private/public partnership would be mostly funded by a private developer or investor, said TRC President Charlie Foust.

Foust said progress has to start somewhere and the proposed development would prove that such ventures could succeed in downtown Clarksville.

While there has been talk for weeks, the conceptual plans were unveiled publicly for the first time Friday morning.

As proposed, it would be five-level structure. The first choice and a slightly scaled down concept were explained at the meeting.

On the first level, there would be 10,500 square feet of retail space, 10 two-bedroom, two-level units with 1,800 square feet each and a 3,000 square feet grade level bank.

On levels two through five, there would be two studio apartments, 20 one-bedroom apartments and eight two-bedroom apartments. There would be 128 units in all.

That option calls for 121,000 square feet of residential space and 13,500 feet of commercial space.

The smaller version would include 10,500 square feet of retail space on Level One, with 23 units per level, for a total of 96 units. That option calls for 89,500 square feet of residential and 10,500 square feet of commercial.

Parking would be offered on three levels.

Foust said there is a demand for such units in Clarksville. Not only is it easy walking distance to Austin Peay but it could be ideal for workers like those who will work for Google.

“We’ve to to step up and get something like this out of the ground and underway,” he said.

He believes developers would follow.

No deal has been made with a developer but now recruiting can begin.

Jeff Bibb said that downtown’s tax base has been slipping and attracting new development is important.

“This is a big project for Clarksville but in the grand scheme it’s a first step in what we hope would be a catalyst for additional future residential development,” he said.

He said the “hunt” will soon be on for a developer, one he doubts will be found in this community. The goal is to break ground by the end of 2018, he said.

The location is due east of the area where the Civic Plaza is being built.

Other next steps include talk to property owners about their interest and determining the cost.

Montgomery County Mayor Jim Durrett compared the proposed project to the Civic Center being built.

“Let’s throw the concept out there,” he said. “It’s time to get our shovels and picks.”

To view the Third & Main Mixed-Use Development Concepts, click here.


Source:
The Leaf-Chronicle