The Murfreesboro City Council on Thursday, May 7, approved a purchase and sale agreement with Hackberry 5 Properties, LLC for the sale of 8.62 acres of City‑owned land along Medical Center Parkway for development of a large event venue and restaurant.
The City-owned property, located south of Medical Center Parkway and east of Gateway Boulevard, is part of a larger 20.12‑acre tract of unimproved land. Developer Hackberry 5 Properties plans to build “an event venue and restaurant facility with a combined capacity exceeding 650 guests.”
“This project represents a smart, forward‑looking investment in Murfreesboro’s economic future,” said Mayor Shane McFarland. “By converting surplus land into more than $2.25 million in revenue with no subsidies, we’re strengthening our financial position while supporting a destination‑style venue that will serve residents and visitors alike.”
Under the proposed agreement, the land would be sold for $6 per square foot, totaling $2,252,923, payable at closing. The City estimates an additional $143,904 in impact fees and $203,138 in annual recurring revenue from property and sales taxes once the venue is operational.
Over 20 years, the project is projected to generate nearly $12 million in combined one‑time and recurring revenue, including property taxes, venue sales taxes, and job‑related sales tax impacts.
“Hackberry 5 Properties’ proposal brings a high‑capacity event venue and restaurant to a part of the City that is primed for growth,” said City Manager Darren Gore. “This development will generate long‑term tax revenue, create jobs and expand our hospitality infrastructure without placing any financial burden on taxpayers.”
The Hackberry 5 Properties proposal was first presented to Council at a Workshop meeting by The Alley on Main restaurant owner-operator Shawn Hackinson. Shawn and Christy Hackinson also operate One of Nineteen Cocktails at 103 N. Maple St.
City officials say the project aligns with council priorities, including economic development. The sale “converts surplus City-owned land into $2.25 million in sale proceeds with no City subsidies” and “supports private-sector investment and expansion of local event and hospitality infrastructure,” as stated in the staff communication to Council.
The agreement protects the City’s interest. It requires Hackberry 5 Properties to secure all zoning, site plan, design, and building approvals at its own expense. No incentives, tax abatements, or fee waivers are included. The City will retain the right to repurchase the property at the original sale price if the developer fails to begin site work within 180 days of closing or vertical construction within one year. As stated in the agreement, the City may repurchase the land if the developer “fails to commence site work…within one hundred eighty (180) days following the Closing Date” or does not begin vertical construction within one year.
Closing must occur no later than March 11, 2027. The proposed venue would become one of the largest event facilities in Rutherford County. The agreement notes that “there are currently only two facilities within Rutherford County capable of accommodating upwards of 500 guests.”
The Purchase and Sale Agreement became effective upon approval by the Murfreesboro City Council.
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