MOUNT JULIET, TN-Site work will begin in the next few weeks for Providence Marketplace, an open-air retail center approved for 830,000 sf of retail space. Carolina Holdings Inc. of Greenville, SC, and Charlotte-based Crosland Inc. have acquired 104 acres at the confluence of Interstate 40, State Route 171 (Mount Juliet Road) and Belinda Parkway and expect to begin moving dirt before the end of the year.The site, outside of Nashville, is situated at the entrance to a 1,000-acre master-planned community called Providence that is being developed by CPS Land. The project calls for 3,400 single- and multifamily homes. Construction has begun for the first phase, which consists of seven distinct single-family subdivisions and a 350-unit apartment development. Providence MarketPlace is expected to open in 2006, shortly after the first residents move in.Peter Pappas, president of Crosland’s retail division was not immediately available Thursday morning for comment. In a prepared statement, Carolina Holdings and Crosland estimate they will invest $70 million in the project and that the retailers will invest a similar amount. When complete, the developers believe the shopping center will generate approximately 1,700 jobs and $4 million in annual sales tax revenue. The land for Providence MarketPlace was purchased from Simon Property Group, which originally planned a regional mall. Providence MarketPlace will be the largest shopping center between Opry Mills in Nashville and Turkey Creek in Knoxville, according to the developers’ statement. The department store chain Belk and the grocery chain Kroger each have acquired nine acres at Providence Marketplace for 74,000-sf stores.The center’s development plan calls for four distinct shopping areas, separated by sidewalks, landscaped medians and parking. The project also entails widening Mount Juliet Road from three to five lanes and making improvements to the I-40 interchange. The general contractor for the project is Harper Corp. Hall Engineering is the civil engineer and Pazdan-Smith Group is the project architect. Wachovia is providing financing.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.