MURFREESBORO - The large-scale downtown Murfreesboro economic development project called Keystone along Broad and South Church Streets is facing higher interest rate challenges.
Murfreesboro City Manager Darren Gore on the WGNS Action Line said there are three different phases to the project:
Gore adds the Brentwood/Nashville-based developers have encountered hotel financing challenges:
Gore said to get the first two pieces of the project going, amendments by the City Council to untether the phases will be necessary. He said this will help to structure financing for the entire project better. Gore said the hope is to see construction beginning by October or November of this year.
