CLARKSVILLE, TN (CLARKSVILLE NOW) – The initial developer for a planned mixed-use development on the 30-acre Vulcan site downtown has taken a pass, but a new developer has quickly stepped up to the plate.
In July 2023, VP Riverside announced it was purchasing the site – a large, empty, formerly industrial area along College Street – from the Hand family. They planned to build multi-family housing with about 330 apartment units, 65,400 square feet of retail including a grocery store, and a baseball stadium, among other amenities. To make that happen, they received rezoning, going from General Industrial District to Mixed Use Planned Unit Development.
However, in recent weeks, VP Riverside let their option expire, according to Clarksville-Montgomery County Economic Development Council CEO Buck Dellinger. “The previous developer ran out of time,” Dellinger told Clarksville Now on Monday. “They had the option, and the option expired. They were waiting on favorable interest rates and other funds that didn’t materialize. It didn’t work out from a pencil perspective.”
New developer lined up
The new developer is now moving forward, awaiting the results of a Tennessee Department of Environment and Conservation study before finalizing plans and signing the contract.
The CMC Industrial Development Board received a grant for a TDEC investigation of soil, water and air quality on the site, which was a former rubber plant mainly making soles for shoes. The Phase 1 “paper review” showed there’s nothing there to worry about, but the full investigation, which began Monday, will make sure there are no concerns, Dellinger said.
If any concerns are found, that could affect the site plan or the project phasing, so that will determine the timeline for the due diligence process and closing. “If some minor remediation is needed, they will work around that and go forward,” Dellinger said.
As for overall changes in the plan, Dellinger didn’t rule anything out. But VP Riverside’s pitch for a baseball stadium was not mentioned. “Our goal is retail and grocery, and multifamily housing,” he said. That could also include a hotel, but Dellinger didn’t want to get ahead of the new developer’s planning.
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Under the Mixed Use Planned Unit Development (PUD) zoning that the prior developer arranged, there would be very specific uses for the property. Dellinger said the new developer will request scaling back to traditional commercial and multifamily zoning, allowing more flexibility in the plan.
Dellinger wasn’t at liberty to name the company, but he said it’s a regional developer with offices in Nashville and Franklin. Clarksville Now reached out to the Hand family, and they deferred to Dellinger.
What’s next
The environmental investigation began Monday and will take 30-45 days. “Then they will know which parts of the property can be developed, then they’ll be getting it rezoned.”
“We’re excited about where downtown is headed,” Dellinger said. “It’s a great addition in rooftops to support walkable retail for people who live downtown.”
He spoke to the importance of building more housing downtown, as opposed to sprawling out onto undeveloped land. “The fire department, schools, emergency services, sewer are already there at scale,” Dellinger said. “Adding more rooftops (where those services are) is all a good thing.”
History of Vulcan site
The Vulcan site has sat empty for quite some time; it’s a large section of downtown surrounded by rusted barbed-wire fence. The factory closed November 2018 after 80 years in business. In 2019, the buildings were demolished to make way for potential new development.
In September 2020, the Hand family, in partnership with Nashville-based real estate developer BNA Associates, bought the Vulcan site with the hope of “kickstarting the area.”
The development is expected to promote economic growth for the entire 105 acres of the Vulcan Frosty Morn Redevelopment District, according to previous reports. Plans are still in the works to turn the old Frosty Morn site nearby into a city-owned community space with room for a farmers market.
It’s also expected to address multiple longstanding traffic concerns, including at College Street and Hornberger Lane, and at College and Red River Street.
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