NASHVILLE, Tenn. – Tuesday night's approval of the Music City Center clears the way for the world's first medical trade mart to be built on the site of Nashville's current convention center.
Dallas-based Market Center Management Company will build the $250 million, 12-story structure on top of the mostly underground convention center located at Broadway and Fifth Avenue downtown.
"With the approval of the Music City Center, we are accelerating our reuse plan for the existing convention center as an open-daily trade center," Bill Winsor, president and CEO of Market Center Management Company said in a release issued Wednesday.
"The milestones we have publicly announced have been confirmed by the approval of the Music City Center," added MCMC senior advisor David Osborn.
The Nashville Medical Trade Center will create a central place where makers of health care-related products and technology can feature offerings to buyers from the medical industry.
The two million square foot facility will include permanent showrooms, temporary trade show space and other conference facilities that will be used year-round.
MCMC expects Nashville to see about 100,000 more visitors each year when the center opens in 2013 and the creation of approximately 2,700 new jobs.
The Metro Council Tuesday night approved the new $585 million convention center by a vote of 29-9.
The facility will sit just south of the Sommet Center and is also scheduled to open in 2013.