The Lebanon City Council approved the Hickory Ridge Shopping Center at a special called meeting Thursday, a major economic development project at TN 109 and Hickory Ridge Road.
National grocery chain Publix will anchor the location, with four out-parcels that can be used for restaurants and retailers. The estimated economic impact includes more than 230 jobs and roughly $1.6 million per year in tax collections and utilities, and the city expects to budget the project for the 2021-22 fiscal year.
“During the campaign I promised a sense of urgency and professionalism in the mayor’s office to provide services and amenities for our growing community,” Lebanon Mayor Rick Bell said in a press release. “I’m excited to announce this first economic development project that will include a major grocery store chain to the Highway 109 and Hickory Ridge Road area.”
The city is expected to invest roughly $650,000 in the development, with the developer contributing $291,300. Lebanon will also pay an additional $264,039 for sewer upgrades and $100,000 for infrastructure improvements.
Bell is confident the returns from the development will offset the costs to the city.
“The economic impact of this commercial property has been researched and analyzed by our Economic Development Director, Sarah Haston, and by our Commissioner of Finance, Stuart Lawson,” he said in the release. “These improvements will greatly enhance this area’s potential for both tourism and economic development by attracting the type of growth that visitors and residents will frequent.”
Lebanon originally announced plans for the Hickory Ridge Shopping Center in July 2020 under former mayor Bernie Ash. The city annexed and rezoned the area in the fall of 2018.
The Lebanon City Council’s next meeting is a work session scheduled for 6 p.m. on Jan. 14. Members of the public wishing to attend or provide comment are asked to contact Mike Collinsworth at 615-443-2839 ext. 2401.