The market value of May Town Center upon completion is estimated at $4.2 billion.

TAX REVENUES
Property and sales tax revenues from May Town Center will support economic development, education, infrastructure and public safety, with collections estimated at:

• $8.4 million per year by 2012
• $63.8 million per year upon completion
• With multiplier, $99.5 million per year upon completion

EMPLOYMENT
May Town Center will create thousands of new jobs across Middle Tennessee.

May Town Center employment will include:
• Over 5,000 jobs by 2012
• Over 40,000 jobs upon completion

Regional employment will include:
• Over 10,000 jobs by 2012
• Over 95,000 jobs region-wide upon completion

Construction jobs:
• 3,358 average construction jobs added per year
• 50,368 jobs added through duration of development

OFFICE DEVELOPMENT
May Town Center will provide a variety of office types, including corporate office buildings, campuses for corporate headquarters, and professional offices totaling between 5 and 10 million square feet.

RETAIL DEVELOPMENT
May Town Center will provide a variety of retail types, including a lifestyle center, street-level retail, cafes and restaurants, and a grocery store totaling between 1 and 1.5 million square feet.

RESIDENTIAL DEVELOPMENT
May Town Center will provide a variety of residential types, including flats, town homes, garden homes, and mid-rise condominiums totaling between 4,000 and 5,000 units.

CONSTRUCTION
May Town Center construction is expected to begin in 2010 with a projected 15-year build-out duration and total investment exceeding $4.0 billion.

REGIONAL IMPACT
May Town Center is expected to stimulate growth both in Nashville, Davidson County and across the region.

1. My name is Tony Giarratana.

2. As I shared with you during Metro Planning’s initial educational meeting on October 30, I have been retained by the May family as Master Developer for the land they have acquired in Bell’s Bend

3. The May family has been active members of the Nashville community for over 113 years.

4. German-born Jacob May came to America in 1879 not speaking English and with only $7 in his pocket. Jacob began selling dry goods from a back pack and later by horse and wagon.

5. Jacob moved to Nashville in 1895 and, in 1908, started May Hosiery Mills on Chestnut Street near Fort Negley that employed hundreds.

6. The Mays have been involved in many other projects over the years including Transcor, for which they were principal owners and which company was ultimately sold to Correction Corporation of America.

7. The Mays began purchasing downtown real estate on Second Avenue, Lower Broad and in the area now known as SoBro 25 years ago and remain one the largest land owners in these areas today.

8. While I have been credited with igniting interest in downtown living, Jack and his brother, Frank, who is an architect, pioneered the concept in developing Market Street Apartments 25 years ago.

9. The Mays own other high-profile real estate such as the Belle Meade Plaza shopping center and the Belle Meade Office Park representing 17 prime acres bordering Belle Meade on Harding Pike.

10. As a five generation Nashville family, the Mays put community first, with quality and thoughtfulness being a hallmark of all they do.

11. I met Jack May on my first day in Nashville and rented my first Nashville residence from him–a loft on Second Avenue–and have had the pleasure of knowing him and his family for over 2 decades.

12. In May 2007, the May family began acquiring land in Bell’s Bend in the name of Bell’s Landing Partners, and currently own nearly 1,500 acres, which represents half of the southerly portion of Bell’s Bend.

13. In October 2007, the Mays retained me to develop a master plan for the property that they have acquired. The stated goals included being environmentally sensitive while addressing the serious economic development needs of Nashville, Davidson County.

14. To develop the master plan we selected the renowned planning firm RTKL, widely known for its work on sustainable community design throughout the United States and around the world.

15. Nashville project for which RTKL has provided planning and architectural work includes “Hill’s Center Green Hills” which many of you have no doubt already had the pleasure of enjoying.

16. Paul Shaw, Erich Dohrer and Arturo Del Castillo are our primary designers from the Dallas office of RTKL. Some of you may have met Paul and Erich during the January 17 community meeting.

17. Members of my team and I have attended all of Metro Planning’s community meetings including educational meetings on October 30, November 13 and 27, and visioning session on January 17.

18. We listened to you describe your vision for your land including what you wanted preserved. It was important to us that our master plan for the May site be sensitive to the issues you expressed for the area.

19. Tonight, I will provide you an overview of the RTKL master plan that we are developing for the land owned by the May family.

20. A transcript of my remarks along with a full copy of our master plan will be provided to Metro Planning tomorrow with a request that it be posted on the Metro Planning website for your review.

21. I would also like to invite a small delegation of Bell’s Bend property owners such Jane, Minda, Barry and one or two others to meet with my team tomorrow afternoon for a detailed discussion of our plan.

22. It is important to emphasis that in the absence of a well-conceived plan the May land could be developed as a large subdivision – a pattern that would decimate the character of the area, create significant traffic on existing roads, eradicate farmland, and transform the landscape into suburban sprawl.

23. We envision an alternative. Our concept, called “Conservation through Concentration,” leaves two-thirds of the May property undeveloped, preserving as much of the area as possible in a natural state, as you indicated you favored during the January 17 session.

24. You indicated that you wanted to preserve view sheds, air quality, wildlife habitat, wetlands, farmland, cultural heritage, and the natural features of the area, including streams, woods and ridges. We will work to preserve these elements so that the things you value may remain important features of the area for generations to come.

25. The undeveloped portion of the May property that will be conserved is larger than the existing, 808 acre Bell’s Bend Park and will more than double the dedicated open space within Bell’s Bend.

26. The undeveloped portion of the May property may be protected by a conservation easement with the Land Trust of Tennessee or used in some other manner that may be deemed desirable by the community.

27. Among the possible uses that have been suggested are equestrian and bike trails, sustainable organic farming and a farmers’ market. These and other options are all on the table and will be considered.

28. Within the developed area of the May property, we envision a green sustainable community featuring a town center in which people can live, work, shop and play.

29. By concentrating this mix of uses, we are able to conserve over 2/3rds of the land in a walkable, sustainable, environmentally sensitive manner, while addressing the significant economic development needs of Nashville, Davidson County as a whole.

30. Why is this important? As evidenced by today’s headlines and the ongoing budget process which will require many Metro departments to cut their budgets by 5% to 10%, or more, while leaving other important departments under funded – Metro needs more revenue.

31. Current property taxes are inadequate to fund the needs of our great city. Residents of Nashville, Davidson County have two options: raise property taxes (which no one wants) or increase our tax base.

32. The reality is that Nashville, Davidson County has been unable to effectively participate in much of the economic development activity that has occurred in Middle Tennessee for some time.

33. More specifically, since Williamson County’s “Cool Springs” development was launched in the early 1990’s, many existing Nashville companies and most new companies have located there.

34. Nashville, Davidson County can no longer surrender the significant capital investment, job creation, property tax, sales tax and other economic benefits of corporate relocations to adjoining counties.

35. Our plan creates a compelling environment that allows Nashville, Davidson County to retain existing corporate jobs and to effectively compete nationally for regional and headquarters office relocations.

36. The retail portion of our master plan includes a lifestyle center with street-level retail which has office and residential uses above.

37. The residential portion of our plan offers a variety of residential styles including town homes, flats, and live/work units above retail – all reflecting the highest design standards and aesthetic appeal.

38. The working name for this exciting project is May Town Center – a walkable community within which employees can stroll to a rich collection of retail, dining and entertainment options.

39. To accommodate vehicular access to this development without creating traffic burden for our neighbors to the north, a new bridge will be constructed across the Cumberland River.

40. This bridge will provide access from I-40 via a new interchange or enhancements to an existing one. Several alternatives are being evaluated, including the one recommended by Metro Planning Organization.

41. Assuming it is acceptable to federal, state and local officials, we are prepared to limit ingress and egress to May Town Center to the new bridge and interchange, with no vehicular connectivity to the north.

42. Under this scenario, Old Hickory Boulevard would terminate at Bell’s Bend Park (versus the river), with no vehicular connection between May Town Center and the northerly portion of Bell’s Bend.

43. Our master plan addresses the economic development needs of Nashville, Davidson County by creating an exciting mixed-use environment to attract and retain corporate relocations to our city.

44. As stated above, the May family does not merely want to address the considerations of Nashville, Davidson County; the May family also insists that the plan be environmentally sensitive and sustainable.

45. It is our intention that the project will introduce new benchmarks for environmental consciousness, with new buildings being built to then prevailing green standards, such as LEED – established by the US Building Council to uphold sustainable development practices.

46. In response to community input, we will prevent light pollution by introducing lighting that is compliant with Dark Skies standards.

47. Additionally, we will not permit billboards, overhead wires, or anything else that would visually blight the landscape. Beauty will be a defining hallmark of every aspect of the design.

48. We have had to work quickly to keep pace with the Community Meeting schedule. This has prevented us from being able to solicit the input and review that we would have otherwise liked to have.

49. We will now submit details of our master plan to Mayor Karl Dean, Councilman Lonnell Matthews and Metro Planning for evaluation. We will also request a review by the Nashville Civic Design Center.

50. We also plan to participate in the remaining Community Meetings scheduled for February 19 and 26, March 25, and April 29 with the goal of having our master plan adopted by the community.

51. It is our intention to ask Metro Planning to approve our plan and to recommend it to the Metro Planning Commission prior to seeking final approval of entitlements from Metro Council.

52. We hope you will share our enthusiasm for our plan which creates “A town center, within a park, within the city of Nashville” – a plan that serves all of the citizens of Nashville, Davidson County by introducing an economic engine and environmental model to ensure a positive future for our great city and preserves the landscape and way of life that you, as our immediate neighbors, so strongly value.