Tower Awarded More Than $30M In Eminent Domain Case

NewsChannel5.com July 22, 2011

 

NASHVILLE, Tenn. - A jury has ruled against the city in a high profile eminent domain case involving the Music City Center property. The jury's decision could bust the budget for the new Music City Center and the adjacent Omni Hotel.

A jury awarded Tower Investments more than $30 million on Friday. Tower owns the parking lot property on which at least part of the Omni hotel will be built.  Metro offered $14.8 million for the land, which it claimed was "fair market value."

But Tower sued, and will receive more than double Metro's offer.

Late Friday, MDHA spokeswoman Julie Oaks issued this statement: "We maintain that our original offer for the parking lot property owned by Tower Investments was a fair offer. Certainly, this is not the outcome we felt the jury would reach. We continue to believe that this property did not double in value in just three years. We will review the decision and explore our options in this matter."

One of those options, according to Oaks, would be to appeal the decision.

Past Stories:

·                     Feb. 4, 2010: Music City Center Lawsuit In Court

·                     Jan. 29, 2010: Firm Still Suing Nashville Over Convention Center Land

http://www.newschannel5.com/story/15133930/tower-awarded-more-than-30m-in-eminent-domain-case