Clarksville, TN – The Clarksville Montgomery County Economic Development Council announced today that a Nashville real estate development company is cooperating with the Hand Family on a $50 million mixed-use development of the four-acre site across from the planned Montgomery County Multi-Purpose Event Center (MPEC).
Clarksville Mayor Joe Pitts and Montgomery County Mayor Jim Durrett both expressed strong support for the major mixed-use development.
The project would consist of a complete renovation of the Riverview Inn into a 145 room upscale full-service national hotel brand, a marketplace of retail & restaurants centered around an outdoor greenspace, and a proposed 700+ space parking garage to serve the needs of the hotel, retail, event center and downtown Clarksville in general.
The Riverview Inn remodel and mixed use project would be completed along the same timeline as the MPEC and bring a critical mass of hotel rooms, bars, restaurants, music venues, shops and parking to downtown.
The retail portion would provide an urban park-like setting with both two-story and single-story buildings including rooftop and patio seating options and would be built and designed to complement the landscape of the MPEC, the nearby Downtown Commons and historical downtown structures.
The project would provide 45,000 square feet of leasable space and create approximately 200 new jobs in the downtown area with a new local sales-tax revenue potential of more than $500,000 annually. The project’s developer is underway with preliminary design, conducting feasibility studies, and soliciting tenant interest.
Both mayors said the project was a welcome step forward for Downtown Clarksville.
“The potential Riverview project is a testament to the promising future of downtown Clarksville. With the right planning and continued investment from business owners, the private sector will be even more inspired to improve and develop in the heart of our community,” said Montgomery County Mayor Jim Durrett.
The Multipurpose Events Center is a facility that would host everything from concerts, family events, ice shows, rodeos, motocross, boat shows, to ice hockey tournaments and college basketball games. The MPEC has plans for a 29,000-square-foot main floor and will include stadium seating, box seats and multiple other premium seating options.
“My family and I are honored to be a part of this project in our hometown. This will play a supporting role to the MPEC and will not only improve the landscape of downtown by providing a fresh lodging option, retail and dining opportunities, but most importantly it will create much needed new retail jobs, new opportunities for small business and regional economic growth in the downtown market” said Charles Hand.