{"id":1004317946,"date":"2019-04-18T10:47:47","date_gmt":"2019-04-18T18:47:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004317946"},"modified":"2019-04-19T06:19:13","modified_gmt":"2019-04-19T14:19:13","slug":"why-public-private-partnerships-are-crucial-to-a-citys-growth","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/","title":{"rendered":"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth"},"content":{"rendered":"
\"\"<\/a>

Eddie George (left) leads a panel on economic development at the ULI Spring Meeting in Nashville April 17. Photo by Holly Dutton<\/em><\/p><\/div>\n

When Heisman Trophy winner, former NFL star and entrepreneur Eddie George first landed in Nashville in 1997, he wasn\u2019t sure what to think. \u201cI thought, there\u2019s nothing going on here,\u201d<\/em> he said, during an opening session panel at the ULI Spring Meeting in Nashville April 17.<\/p>\n

But over the years, George came to love the city\u2019s charm and friendliness. And as the city expanded and drew more and more tourists (15 million last year, according to ULI), despite some thoughts about leaving, he felt a strong pull to stay.<\/p>\n

\u201cI thought about moving back to Columbus, Ohio for a long time, where my Ohio State roots are,\u201d<\/em> he admitted. \u201cBut there was something in the air\u201450,000 cranes in the air telling me not to move.\u201d<\/em><\/p>\n

FULL STEAM AHEAD<\/strong><\/h2>\n

Nashville has boomed over the last ten years and now draws 100 new residents a day, according to the U.S. Census Bureau. The multifamily market<\/a> has 18,000 units in the pipeline, construction permits in the city are expected to exceed a record $3.7 billion<\/a> by the end of the year and the tech and creative class scene is thriving. But none of it could have happened without a strong partnership between the public and private sector, according to city leaders and developers.<\/p>\n

\u201cI contend it\u2019s because we\u2019ve had really good elected officials\u2014mayors and governors\u2014not interested in silly things but important things and the business community working together,\u201d<\/em> said John Ingram, chairman of the board of Ingram Industries. \u201cProfessional soccer would not have happened without that.\u201d<\/em><\/p>\n

Ingram pointed to Amazon\u2019s scrapped plan for New York City as a cautionary tale of what can happen when elected officials and the private sector don\u2019t align.<\/p>\n

\u201cIf you don\u2019t follow through you could end up like New York, sorry to say,\u201d<\/em> he said.<\/p>\n

Last fall, a $275 million stadium plan to bring Major League Soccer to Nashville cleared the city council. The team, Nashville SC, is expected to begin playing in 2020.<\/p>\n

Jay Turner, the managing director of MarketStreet Enterprises, has lived in Nashville his whole life. He has watched the downtown area morph into a thriving central business district, a stark contrast to 20 years ago, when the urban core was nearly a ghost town, with a code in place that barred residential development.<\/p>\n

\u201cWe got behind,\u201d<\/em> said Turner. But because of the vision that several previous mayors had for the city, they were able to catch up\u2014and then some.<\/p>\n

\u201cAll these changes in our urban core are really because of the mayor\u2019s office. They saw the opportunity in what we were known for\u2014entertainment\u2014to get people to come visit,\u201d<\/em> said Turner.<\/p>\n

BALANCED GROWTH<\/strong><\/h2>\n

With all the new development and growth, it\u2019s important to find a balance, especially with the growing pains that often accompany strong periods of growth. Nashville has experienced more traffic and congestion and rising housing costs as a result of large amount of development.<\/p>\n

\u201cA city is either growing or atrophying,\u201d<\/em> said Turner, acknowledging that some of the growth can be inconvenient. \u201cIt\u2019s important for a city to grow, but grow in the right way. It can be very difficult.\u201d<\/em><\/p>\n

The balance of keeping the traits that made people and businesses want to come the city in the first place while still growing is particularly difficult, the panelists acknowledged. For Nashville, besides its legendary history in country music, a small-town, friendly vibe is what the city prides itself on. It\u2019s also a city with a healthcare industry that generates more than $92 billion annually in revenue, is the home of more than 20 colleges and universities and is in a state without individual income taxes.<\/p>\n

But the city is facing challenges with public education and transit, issues that have some leaders feeling cautious going forward.<\/p>\n

\u201cI think the locals are starting to get worried,\u201d said<\/em> Robert Frist, Jr., CEO of HealthStream & co-founder of Nashville\u2019s Entrepreneur Center. \u201cWe\u2019ve done things right and people have come here. As the city grows from a nice small city into an emerging medium-sized city, its risky because we\u2019ll attract so many people I\u2019m afraid we won\u2019t put in infrastructure fast enough. The next five years worry me a lot.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Without close cooperation between business and local government, creating the kind of projects that help cities thrive is a tall order, said panelists at ULI\u2019s Spring Meeting.<\/p>\n","protected":false},"author":745,"featured_media":1004318015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,36077,23891,21742],"tags":[45257,45260,34860,33395],"class_list":["post-1004317946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-nashville-knoxville","category-national","category-latest","tag-jay-turner","tag-john-ingram","tag-robert-frist","tag-urban-land-institute"],"acf":[],"yoast_head":"\nWhy Public-Private Partnerships Are Crucial to a City\u2019s Growth - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth\" \/>\n<meta property=\"og:description\" content=\"Without close cooperation between business and local government, creating the kind of projects that help cities thrive is a tall order, said panelists at ULI\u2019s Spring Meeting.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-18T18:47:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-19T14:19:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"933\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/\",\"name\":\"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg\",\"datePublished\":\"2019-04-18T18:47:47+00:00\",\"dateModified\":\"2019-04-19T14:19:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg\",\"width\":1400,\"height\":933},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\",\"name\":\"Holly Dutton\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"caption\":\"Holly Dutton\"},\"description\":\"Holly Dutton is a Senior Editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2018 and has reported on the real estate sector since 2012. She was previously with Real Estate Weekly and the Houston Chronicle. Connect with her on twitter: @HollyDutton\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/hollydutton\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/","og_locale":"en_US","og_type":"article","og_title":"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth","og_description":"Without close cooperation between business and local government, creating the kind of projects that help cities thrive is a tall order, said panelists at ULI\u2019s Spring Meeting.","og_url":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-04-18T18:47:47+00:00","article_modified_time":"2019-04-19T14:19:13+00:00","og_image":[{"width":1400,"height":933,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg","type":"image\/jpeg"}],"author":"Holly Dutton","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/","url":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/","name":"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg","datePublished":"2019-04-18T18:47:47+00:00","dateModified":"2019-04-19T14:19:13+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg","width":1400,"height":933},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/why-public-private-partnerships-are-crucial-to-a-citys-growth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Why Public-Private Partnerships Are Crucial to a City\u2019s Growth"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d","name":"Holly Dutton","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75","caption":"Holly Dutton"},"description":"Holly Dutton is a Senior Editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2018 and has reported on the real estate sector since 2012. She was previously with Real Estate Weekly and the Houston Chronicle. Connect with her on twitter: @HollyDutton","url":"https:\/\/www.commercialsearch.com\/news\/author\/hollydutton\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/04\/IMG_7261-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004317946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/745"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004317946"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004317946\/revisions"}],"predecessor-version":[{"id":1004318447,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004317946\/revisions\/1004318447"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004318015"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004317946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004317946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004317946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}