By EMILY KUBIS
The corner of Maryland Way and Franklin Road has had a controversial history in recent years.
H.G. Hill Realty Company announced Tuesday that it has placed the Tennessee Baptist Convention property at 5001 Maryland Way under contract, creating a 17.27 acre parcel, pending the sale’s closure.
No plans have been released yet for what may come of the property, but the corner of Maryland Way and Franklin Road has had a controversial history in recent years.
The Tennessee Baptist Convention has owned the property since the building was built in the late 1960s, but the property was most recently associated with the neighboring Murray Ohio property and the “Streets of Brentwood” concept plan.
In February 2011, H.G. Hill Realty and GBT Realty Corporation formed a partnership and announced the $9.6 million purchase of the Murray property. Demolition of the 10,000-square-foot building began a year later.
In May 2012, a GBT subsidiaryÃ¢â‚¬â€Franklin Land AssociatesÃ¢â‚¬â€entered into an option to buy the adjoining Tennessee Baptist Convention property, and in October 2012 a concept plan for the aggregated property was released. It was called The Streets of Brentwood.
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The concept plan showed a high-density project that proposed residential, office and retail uses as well as a movie theater and hotel.
The Brentwood City Commission passed on first reading a rezoning of the C-1 property, which allows general office uses, to C-4, which was the first true mixed-use development plan to come under amended C-4 zoning requirements.
But the development proved controversial, with citizens expressing the list of concerns that follow high-density proposals Ã¢â‚¬â€ traffic, overcrowded schools and a decrease in the Brentwood brand and quality of life.
A revised plan was released, with a 200,000-square foot reduction from the original and the office buildings and cinema reduced in size. Retail development space was significantly increased.
In February 2013, developers withdrew the rezoning request before the second vote over the requested rezoning, citing financial risk.
H.G. Hill then purchased GBT’s interest in the Murray property, and GBT let its option to purchase the Tennessee Baptist Convention property expire.
But with the current contract, H.G. Hill CEO Jimmy Granbery said the contiguous nature of the properties provides the opportunity to examine the area in detail.
Randy Davis, director of the Tennessee Baptist Convention said his ministry believed it would close on the contract in the next several weeks.
“We’re very positive about it,” Davis said. “It’s a very clean contract. We believe it is extremely fair, and we are glad to proceed with the next chapter in our ministry.”
H.G. Hill also owns the nearby Brentwood Hill Center, which houses REI and The Fresh Market.
“Our existing center and the former Murray Ohio site are important to the company and, we believe, to the community,” Granbery said. “At this point, no decisions have been made.”