Nashville Market Insights
In May 2021, Nashville approved Oracle Corporation’s (NYSE:ORCL) $1.2 billion 65-acre office park along the Cumberland River in East Nashville. The second headquarters for software giant Oracle will bring 8,500 new jobs to Nashville by 2031 with an average annual wage of $110,000, nearly double Nashville’s average, along with 11,500 ancillary jobs and 10,000 temporary jobs during construction.
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In addition to Oracle, there are plans to perform $1.2 billion of renovations to Nissan Stadium, home of the Tennessee Titans, or build an entirely new stadium along the river right next to Oracle and redevelop 200 surrounding acres into an entertainment district like Wrigleyville in Chicago.
Expected to bring 8.5K new jobs to Nashville
$1.2B renovation will develop a
high-traffic entertainment district downtown
Proposed Renovations to Nissan Stadium in Downtown Nashville, TN (Source: ENR Southeast)
Elevate Realty acquired a substantial portfolio of affordable housing units only four miles away from Oracle’s new office park and Nissan Stadium given the expectation for substantial job formation and economic activity in this part of Nashville over the next decade.