RUTHERFORD COUNTY, TN - A large-scale mixed-use development is moving forward after receiving support from both the Industrial Development Board and the Finance Committee of Rutherford County. The project won’t be located in Murfreesboro or Smyrna, but rather in La Vergne, in the northern part of the county. The Industrial Development Board authorized the 76.5-acre Waldron Station project, indicating a desire to adopt the plan and make it “financially feasible.” According to an economic impact report known as the Younger Study, the development is expected to create approximately 1,500 new jobs. Project details have since been submitted to the Rutherford County Commission for further consideration.
The major mixed-use development called Waldron Station is moving forward in La Vergne under a new Economic Impact Plan approved by the Industrial Development Board of Rutherford County. The project covers 76.55 acres near Waldron Road and Blair Road and will include 208,000 square feet of commercial space, medical offices, retail, restaurants, 16 single-family homes, 38 townhomes, 578 multifamily units, a town center, parks, sidewalks, and green space—25% of the development is planned as open space.
The developer, Twinning Station Limited Partners, LLC, will build public infrastructure such as roads, utilities, parking areas, and stormwater improvements. These costs—up to $17.6 million—will be reimbursed through Tax Increment Financing (TIF), meaning new property tax revenue generated by the site will help cover infrastructure expenses over a 20-year period.
An economic study estimates the project will generate $5.38 billion in total economic impact over 20 years, create 1,513 new jobs, and produce more than $80 million in local sales tax revenue. Once complete, the development will also generate an estimated $15.8 million in new property tax revenue for Rutherford County and $2.59 million for the City of La Vergne, after TIF obligations are met. The plan also includes land for a future fire station to serve the growing area.
The Study - The new economic analysis conducted by Younger & Associates shows that the planned Waldron Station mixed-use development in La Vergne is expected to create 1,513 jobs and generate $5.38 billion in total economic impact over the next 20 years. The study projects more than $1.15 billion in wages, along with $153.7 million in local tax revenue for Rutherford County and the City of La Vergne. The project includes retail, residential, and office space, and is supported in part by Tax Increment Financing (TIF), with $31.6 million in future tax revenue designated to help fund infrastructure improvements. Retail alone is projected to produce over $62 million in local sales tax, while residential and office components add long-term recurring revenue. The study reports a 4.85 benefit-to-cost ratio, indicating a strong economic return for the community.
Resolution Filed - The Rutherford County Commission has approved a resolution supporting the Waldron Station mixed-use development in La Vergne, a 76.55-acre project backed by the Industrial Development Board. The plan allows Tax Increment Financing (TIF) to reimburse the developer, Twinning Station Limited Partners, LLC, for public infrastructure costs such as roads, utilities, and site improvements. The county found the project necessary for economic development, job creation, and increased tax revenue, stating it will help grow commerce, improve public welfare, and reduce unemployment. The resolution authorizes the mayor and county officials to execute all required agreements, while also clarifying that the TIF obligations are not a debt of the county, city, or state.
- Resolution Filed - Read more about the resolution HERE.
- The Younger Study - CLICK HERE to read details from the study.
- Learn More: Project gets Greenlight from the IDB HERE.
Highlights of Project:
- Development will be a prominent feature of the civic, economic, recreational and cultural life of the City and the County, providing a gathering place for people to work, live, shop, dine and be entertained in a walkable environment.
- The Younger Study estimates that the Development will have an economic impact of over $5.389 Billion over the 20-year period of the Plan.
- A significant part of the Project will be commercial office, residential, retail and restaurant uses that the Younger Study anticipates will result in the creation of approximately 1,513 new jobs.
- At current property tax rates, according to the Younger Study, the Development is anticipated to generate, after the deduction of the Annual Incentive Amounts to reimburse or finance Eligible Costs and reimbursement of Administrative Expenses (as such terms are defined below), new property tax revenues over the 20-year period of the Plan of approximately $15.88 Million to the County and $2.59 Million to the City [City of La Vergne].
- The developer of the Development will be Twinning Station Limited Partners, LLC, and/or its affiliates that includes Land Deleot as its Managing Member (“Developer”).
