MURFREESBORO, TN - A $150 million public-private, mixed-use partnership project will include $26 million in public infrastructure, according to officials. City Manager Darren Gore discussed the downtown redevelopment project, Keystone, on the latest edition of “The Insider,” a programed produced by the City of Murfreesboro. See highlights of the conversation below and watch / listen to the program above.
- The downtown mixed-use redevelopment project on City property along Broad Street with the Brentwood/Nashville-based developers will feature condominiums, apartments, retail space, and public parking. The Planned Unit Development (PUD) requires approval by the Planning Commission to ensure the project’s final design meets zoning requirements, building and codes stipulations, and architectural considerations
- The three major phases of the redevelopment project include multifamily and retail, condominiums, and a hotel, but hinges on the relocation of the 4,500 square foot WGNS radio station to the corner of Sevier and Church streets by October 2026
- Closing on City property for the mixed-use development and demolition would not begin until January 2027 after WGNS is finalized. Phase I, approximately 2/3rds of the project with 239 multifamily units, 26,000 square feet (or 70 percent) of the planned retail space, and structured parking is envisioned by the end of 2028. Phase II, 100 For Sale condominiums with structured parking, would follow. Phase III, a hotel, includes a parking agreement for the future hotel with closing in late 2029 and completion in 2031
- Gore worked with the development team to structure the amended agreement so that the hotel and condominiums could be set up under different financing packages in phases that could be independently financed
- The City will bid out $4 million in off-site road improvements necessary for traffic enhancements including realignment and signalization of Front and Vine streets and South Church and Broad streets
“I think it’s a game changer for economic development downtown,” said Darren Gore. The previous City Manager Craig Tindall and the Development Services team dedicated a couple of years to this project. After I became City Manager, we found that our current financing market did not allow multifamily, condominiums, and a hotel to be financed in one package. So, we separated the condominiums and hotel as separate financing packages.”
The Murfreesboro City Council voted Oct. 2, 2025, to approve the new vision for downtown, supporting a Development and a Tax Incentive Financing (TIF) Agreement by the Industrial Development Board (IDB) for on-site parking and public infrastructure. Council vote also included approval for a property Purchase and Sale Agreement for Section 1 of the “Project Keystone” redevelopment. The agreements with Hillsboro Residential will develop City-owned property into mixed-use housing, retail, office, and potential hotel space along with public parking garages. Council approved an economic impact plan Oct. 23.
Also on the above video of The Insider:
- City Manager Gore explains the rather lengthy approval process that includes a development agreement with developer Hillsdale Residential that details the phasing of the project and its various components. A Tax Increment Agreement (TIF) is integrated into the agreement. On Oct. 15, the Industrial Development Board (IDB) approved the tax agreement and economic impact plan. The economic impact plan was approved by Council Oct. 23, 2025
- The Rutherford County Commission and its various subcommittees must also approve the plan in November since the County generates the majority of revenue for the TIF, roughly a 65/35 split between the County and the City for a $26 million maximum TIF over 20 years. TIFs can only be used for public infrastructure such as qualified structured parking
- Converting the underground Town Creek into a daylighted linear, urban park is well underway. It is excavating and removing the old metal and concrete culvert to create a visible layered stream. Gore says downtown will take on a whole new character as Town Creek becomes a gathering point
- A pedestrian bridge over Broad Street to facilitate convenient access to the park from downtown is currently in the design phase to include an elevator for ADA compliance
“Any development or improvements on the property is placed on the property tax rolls and the property tax it generates is set aside to be integrated back into the development,” said Gore. “There’s no additional burden on the current taxpayer because the project will generate new property taxes that effectively funnel back into the project. If everything coalesces over the next 20 years, the project should recoup about 1/6th of its cost through the TIF.”
The Murfreesboro City Council voted in May 2024 to hire Assistant City Manager Darren Gore to become City Manager, voting in June to approve an employment agreement with Gore, effective July 2, 2024. Gore, a Smyrna, Tenn. native and licensed professional engineer, began working for the City in 2005 and served as the Director of Murfreesboro Water Resources from 2012 to 2024. Gore holds a bachelor's and master’s degree in engineering from the Georgia Institute of Technology in Atlanta.
This latest edition of “The Insider” is available via Podbean and more: https://cityofmurfreesborotn.podbean.com/. “The Insider,” hosted by Mike Browning, originates from City Hall and produced by award-winning producer Michael Nevills. Murfreesboro CityTV can be found on Comcast Channel 3 and 1094, Roku, Amazon Fire TV, Apple TV, YouTube, Facebook and the City website www.murfreesborotn.gov/citytv.
