Reported By Jamey Tucker, Video Journalist - bio | email
HCA will purchase land off 11th Avenue North and Charlotte Avenue for its new headquarters.
Financing concerns stalled the West End Summit project and it's still unclear what's next for the vacant lot.
NASHVILLE, Tenn. -
Health care giant HCA is now planning to build its new headquarters in an area of downtown Nashville known as North Gulch.
The company plans to purchase 11 acres of a 32-acre plot of land off 11th Avenue North and Charlotte Avenue and is already working on site design.
Nashville mayor Karl Dean says the move will transform the area.
"With the Gulch and those additions being placed on Charlotte and also with the ballpark, you're going to have a really strong transformation of that part of north Nashville," Dean said.
He continued, "We have spent a lot of time on the other side of Nashville, the south of Broadway and So-Bro, the convention center, the Omni; but now you're seeing real action in the northern part, on the Charlotte area which is good for the city."
HCA previously planned to house its Parallon Business Solutions and Sarah Cannon Research Institute at the West End Summit property off West End Avenue.
Financing concerns stalled the project and it's still unclear what's next for the vacant lot. A large hole sits where developer Alex Palmer had hoped to build two high rise towers with restaurants and office space.
In a statement Wednesday, Palmer said while he is disappointed in HCA's decision, the project will move forward.
"This creates a real opportunity for our company to realize the original vision for West End Summit, to create a Class A office building with a 4-star hotel on the site."
In the statement Palmer added, "While it took us longer than expected, we were successful in getting financing for the project in place with an excellent team of debt and equity partners."
HCA said it's still committed to bringing 2,000 jobs to Nashville, as previously planned, and hopes to open its new headquarters by 2016.
The Sarah Cannon Research Institute is one of the largest global strategic research organizations focused on advancing therapies and accelerating drug development in oncology and cardiology.