City Council Approves “Property Swap” With MTE
The Murfreesboro City Council voted Thursday, June 23, 2022, to approve an exchange of property with Middle Tennessee Electric (MTE) for land that will be developed into a park for the western portion of Murfreesboro.
The Real Estate “Purchase and Sell Agreement” exchanges property owned by the City for property owned by MTE for equal price. The agreement is contingent upon the City rezoning the MTE property to Commercial Highway (CH) before the end of the year. The City commits to extend sewer to the MTE property north of I-840, which is already in planning.
“We are excited to complete this agreement for a property exchange with MTE that serves the needs of both organizations and the community at large,” said Murfreesboro Mayor Shane McFarland. “The land the City is acquiring from MTE is ideally suited for a community park and we are committed to meeting the needs of the western part of the community with plans for a community space that will include parkland, green space, walking trails, and recreational amenities.”
The property currently owned by the City is located along Veterans Parkway, Burnt Knob Road, Vaughn, and Blackman roads near I-840. Currently, the property designated for a future Commercial Highway (CH)/Business Park, with a portion of the property being developed as a park site.
The MTE property is in West Murfreesboro one mile south of the City property along Veterans Parkway. Previously, MTE planned to develop the site as its future headquarters. The MTE property is currently zoned PUD with substantial setbacks from the surrounding residential communities that limits its commercial development.
“Exchanging the two properties offers significant benefits to MTE and the community,” said City Manager Craig Tindall. “Development of public facilities on the MTE land, which is well within the City and closer to the communities, offers a substantial benefit to City citizens. And, the City Parcel is highly visible from I-840 along the Veterans Parkway exit, which makes it well suited for economic develop that also benefits the community.”
Development Services Executive Director Sam Huddleston has previously stated, “This strategic location adjacent to I-840 and accessible to I-24 and I-65 offers a superior location as a site for corporate headquarters and business development.”
MTE works extensively in the economic development arena with TVA, the State, and the Middle Tennessee Industrial Development Association. Thus, MTE ownership of this property enhances the economic development potential of the property.
The Commercial Highway zoning approved by the Planning Commission and considered by Council in 2021 will help shape and develop the area with benefits to the Blackman area and the entire City.
The Murfreesboro City Council previously voted Thursday, Dec. 2, 2021, to approve City staff moving forward with negotiation, due diligence, and document preparation for a land exchange with MTE.
