investigation
A Prominent Investor’s Subsidiary Vacates Owned Land and Progression Zone Near NFL Stadium
SHARE THIS ARTICLE
FONT SIZE
You say iconic; I say Icahnique.
Either way, consider billionaire Carl Icahn as a key player in the redevelopment of much of his downtown Nashville.
The prominent and multifaceted investor owns forty-five acres that will be vacated through a steel recycling company that is leasing the land in the emerging West Bank neighborhood, the Nashville Business Journal reported. Icahn’s stake sits between the $2. 1 billion Nissan Stadium that is taking shape for the National Football League’s Titans franchise and a 30-acre mixed-use progression of The Fallon Company.
Icahn sold a scrap steel business, at 701 South First Street, but kept the land he occupied on East Bank as part of a 2021 deal with SA Recycling, which continued to operate there while also leasing 25 acres in West Nashville. SA Recycling recently exercised an option to acquire the land in West Nashville and plans to close its East Bank location.
The surface is on the banks of the Cumberland River, not far from the bridge over Korean Veterans Boulevard, a major link to downtown Nashville, and about a mile from the Country Music Hall of Fame. The 45-acre site has attracted a lot of interest in recent years due to its redevelopment prospects, and the closure of the steel recycling operation turns out to be giving some wind in the sails.
It is not clear that Icahn has any immediate plans to sell or expand the West Bank site.
Tyler Adams, chief operating officer of Orange, California-based SA Recycling, said his company’s exit from the East Bank is consistent with clients for the domain’s redevelopment beyond commercial uses.
“I would possibly not communicate about our long-term strategy or our overall plans in Nashville, yet I will say that we have long identified that a shredding operation on the West Bank is not desirable,” he said.