CLARKSVILLE (WHAS11) – The Town of Clarksville Redevelopment Commission has acquired existing portions of the River Falls Mall complex.
The 65-acre area includes a building leased by Bass Pro Shops, the former Dillard’s building and a former Sonic restaurant.
Negotiations have been going on for more than a year. The acquisition negotiations were done with the Lewis and Clark Parkway and Broadway District redevelopment in mind. The Clarksville Redevelopment Commission recently issued a national request for proposals for the parkway and district redevelopment plan. That area equates to 660 acres.
Dylan Fisher, Director of Redevelopment, said “The Commission believes that the planned acquisition of portions of the River Falls Mall Complex will enable us to fully implement future public visions for our community.”
Fisher said the town is looking for long-lasting economic viability.
“Currently, 50% of Clarksville employment opportunities are in the retail sector, but this is not viable long-term. The new Master Plan will promote economic longevity and viability for Clarksville, and we’re excited to create and implement the future public vision over the decades to come!”
A.D. Stonecipher, the director of the Clarksville Redevelopment Commission, said the purchase was also driven by a desire to fix long-standing infrastructure issues that occurred on the land.
"That particular area centuries ago was a part of a river flood basin, so we still have long-term concerns for the storm water infrastructure," Stonecipher said. "By making this purchase we're not only able to acquire the land and road that we need to do the infrastructure projects, but we'll be able to do it cheaper because now we won't have to negotiate with private land owners."
Although there are no concrete plans for what will replace the current structure, Stonecipher said the sale is a steal. For the six acres they needed, the redevelopment commission is getting 65 acres for under $5 million--land that's been assessed at $11.7 million.
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